Business
VanEck’s DVDY shuns banks in search for steady income – The Australian Financial Review
A new income-hunting ETF will zero-in on Wesfarmers, Woolworths and Transurban plus a handful of ASX mid-cap stocks including listed fund managers. Banks don’t make the cut.
DVDY’s largest weighting is Wesfarmers at more than 12 per cent; that’s followed by Woolworths and Transurban at more than 8 per cent apiece, and Sonic Healthcare, APA Group and ASX which represent more than 5 per cent.
Its allocation to Magellan Financial Group is 4.94 per cent.
Wesfarmers will pay a 95¢ a share final dividend on October 1, it revealed in its full-year results last week, including the proceeds of its Coles sell-down.
VanEck will still have just 25 ETFs listed on the ASX when…
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