New actively managed dividend ETF hits the market
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The Touchstone Dividend Select ETF (NYSEARCA:DVND) is the latest actively managed dividend exchange traded fund to hit the market. The ETF, which debuted late last week, rose 1.2% in Monday's early trading.
DVND has 52 holdings and an expense ratio of 0.95%. Additionally, the ETF aims to provide investors with access to stocks that historically paid consistent, growing dividends.
DVND also looks to invest in stocks that have sustainable competitive advantages, which have the potential to support reliable, growing dividends along with reasonable valuations. Some advantages include high customer loyalty, cost advantages and economies of scale.
Breaking down the fund, the ETF sports Microsoft (MSFT), UnitedHealth Group (UNH), Apple (AAPL), and Exxon Mobil (XOM) as its top four positions. MSFT has a 3.99% weighting in the fund, followed by UNH at 2.55%, AAPL at 2.52% and XOM weighted at 2.51%.
DVND has entered the competitive sphere of dividend ETFs, facing off against established players like Vanguard Dividend Appreciation ETF (NYSEARCA:VIG), Vanguard High Dividend Yield Index ETF (VYM), Schwab US Dividend Equity ETF (NYSEARCA:SCHD) and iShares Select Dividend ETF (DVY).
In related dividend news, smart beta ETFs accumulated nearly $8B in the month of June. They were led by these dividend ETFs.