- DVYE's portfolio structure has changed drastically since my September coverage.
- South Africa left the top-three group and was replaced by Taiwan. The fund's exposure to the risks inherent to the South African rand was reduced.
- However, the rebalancing had a minimal impact on the sector mix. DVYE is still overweight in financials.
- I have a positive outlook for EMs, with a few caveats.
- DVYE now has a generous standardized yield of 5.97% and cheap valuation indicated by a 7.7x P/E which make the fund a nice option to consider for the long term.
For further details see:
DVYE: Time To Revisit The Thesis