- DNL invests in non-U.S. dividend stocks exhibiting growth characteristics. It does not compromise on quality, separating the wheat from the chaff using ROE and ROA.
- The UK, France, and Taiwan are its three main allocations together accounting for close to 30%.
- Though I like its investment philosophy and adequate fees, international dividend strategies are facing numerous headwinds this year, principally stemming from the stronger dollar.
- To investors' chagrin, DNL has patchy distributions growth, only ~1.5% LTM yield, and rather soft historical performance.
- DNL is a Hold.
For further details see:
DNL: The Strategy Has Vulnerabilities