PowerShares High Yield Equity Dividend Achievers Portfolio ETF (PEY)

The PowerShares High Yield Equity Dividend Achievers Portfolio ETF (PEY) started trading in December 2004. It tracks the Mergent Dividend Achievers 50 Index, minus expenses and fees. The ETF's approach to tracking the index is full replication. It attempts to own all the stocks in the index.

The Mergent Dividend Achievers 50 Index tracks the performance of the 50 highest yielding companies that have raised their dividends in each of the last 10 years. The index is rebalanced quarterly, while components are selected and dropped annually.


The ETF is passively managed, with an expense ratio of 0.6%. The fund's most recent annual turnover rate was 42%. PEY rebalances quarterly.

As of July 2008, the PowerShares High Yield Equity Dividend Achievers Portfolio ETF holdings were in the following sectors:

Consumer Cyclical 12.58%
Financials 61.76%
Health Care 2.75%
Industrials 3.07%
Utilities 19.83%



Although this is subject to change, the ETF pays dividends on a quarterly basis, in March, June, September, and December. The dividend is irregular, and past distributions have ranged from $0.02742 a share to $0.123 a share.

As of July 2008, the PowerShares High Yield Equity Dividend Achievers Portfolio ETF held 50 stocks.

The ETF's holdings are listed below.