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One aspect of the Dow Dogs is their singular focus on dividend yield. Other dividend or income focused equity strategies are also performing better so far in 2021.
The one ETF not keeping pace with the S&P 500 Index is the Vanguard Dividend Appreciation ETF (VIG).
Certainly the equity markets have performed strongly off of the March 23, 2020 low with the iShares Core S&P Midcap Index ETF (IJH) up 127%, iShares Russell 2000 Index (small cap) ETF (IWM) up 125% and the S&P 500 Index (SPY) up 90%.