iShares Dow Jones Select Dividend Index Fund ETF (DVY)

The Dow Jones Select Dividend Index Fund ETF (DVY) tracks the Dow Jones US Select Dividend Index, minus expenses and fees. The ETF's approach to tracking the index is full replication. That is, it attempts to own all the stocks in the index.

As of June 2008, the Dow Jones US Select Dividend Index has the following sector weightings, composed entirely of US stocks:

Consumer Goods 10.4%
Consumer Services 1.57%
Energy 2.6%
Financials 42.5%
Health Care 3.82%
Industrials 6.49%
Materials 7.93%
Technology 0.85%
Telecommunication Services 1.93%
Utilities 21.42%

Stocks make it into the index based on dividend payout ratio, dividend growth rate, dividend yield, and average daily dollar trading volume.

The ETF is passively managed, with an expense ratio of 0.4%. The fund's turnover rate, as of May 2008 is 6%. The fund rebalances annually.

Although this is subject to change, DVY pays dividends on a quarterly basis, in March, June, September, and December. The dividend is irregular, and past distributions have ranged from $0.28780 a share to $0.67784 a share.

As of June 2008, the iShares Dow Jones Select Dividend Index Fund ETF held 101 stocks.

The ETF's holdings are listed below.