VYMI - VYMI: Higher-Yielding Stocks Are Unattractive

• Stocks with higher dividend yields are perhaps intuitively attractive, but higher payout ratios indicate weaker business growth potential.
• The total return of VYMI over time is comparatively weak, as compared to the broader U.S. equity market.
• With VYMI's international diversification strategy, one might think the fund is lower risk, but this creates alternative risks.
• Meanwhile on a simple price basis, VYMI is actually historically more volatile.
• I am neutral on VYMI, and find the fund's strategy unappealing from both capital appreciation potential and risk perspectives.

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