This is a passive dividend ETF that starts from a universe of developed-market foreign stocks, selects the highest-dividend-yielding names in each major sector, and holds them at equal weight. It holds high-dividend stocks in a balanced way across sectors.

It suits dividend-focused investors who want exposure to high-dividend stocks in developed markets outside the US without concentration in any single sector.

It is a passive (index-tracking) ETF managed by ALPS.

Applying the Dogs of the Dow strategy at the sector level, the fund selects the highest-dividend-yielding stocks in each major sector from a universe of developed-market foreign stocks and holds them at equal weight. By spreading allocations evenly across sectors, it reduces concentration in any one industry, and it reselects holdings every year based on rules to maintain high-dividend exposure.

• Equal-weighted selection of high-dividend stocks in each sector
• Overseas application of the Dogs of the Dow strategy

Assets under management (AUM) stand at $566.8M, and the total expense ratio is 0.50% per year.

Compared with similar international dividend ETFs such as VYMI and VIGI, the main points of comparison are the selection method and the sector and dividend exposure.

High-dividend value stocks see their performance diverge with interest rates and the economic cycle. They tend to be strong when rates are falling and value stocks are in favor, and relatively weak when growth stocks are favored. Because of the sector-balanced structure, volatility from concentration in a particular sector tends to be muted.

Fund flows into international high-dividend stocks vary with dividend demand, value-stock preference and currency movements, and demand for stable distributions can also draw money toward related products. It is also worth watching how performance shifts with economic and currency variables outside the US.

Its strength is sector-balanced international high-dividend exposure, while the value-stock tilt, currency risk and relative weakness versus growth stocks are considerations.

Direct substitutes offering similar international high-dividend exposure include IDV and DWX, and for those who want to emphasize the value factor over dividends, international value ETFs such as EFV are also worth comparing. Products that apply the same strategy to US stocks, such as SDOG, can be considered as well. The two products shown in the table, VYMI and VIGI, are market-cap-weighted international dividend ETFs and so differ in weighting method, while products such as DFAI are international core ETFs with a different dividend focus. This ETF's differentiator is its equal-weighted selection of high-dividend stocks by sector.

Here are the points to review before investing in IDOG. Sector-balanced high dividends are the appeal, but the value-stock tilt, currency exposure and dividend sustainability need to be checked in advance. It is also a good idea to compare it with similar international dividend and value products.

Relative weakness when growth stocks are favored and currency fluctuations are the main variables for short-term performance, and dividends may shrink if corporate earnings deteriorate. With a large foreign allocation, regional economic conditions and currency movements also affect returns.

It is a suitable candidate for dividend-focused investors who want sector-balanced exposure to high-dividend stocks in developed markets outside the US. If you want market-cap-weighted international dividends, consider a product such as VYMI, and if you want a sector-by-sector equal-weighted high-dividend strategy, compare it with this product before choosing.