This is an actively managed ETF that invests in dividend-paying companies in global markets outside the US. The portfolio team selects non-US companies by weighing dividend levels, growth potential and valuations together, and uses the MSCI All Country World ex USA High Dividend Yield index as its benchmark.

It suits investors who want dividend income and diversification from non-US markets and who prefer active management.

The ETF is managed by Polen Capital using an active management approach.

The portfolio team directly selects companies in global markets outside the US that pay dividends, have room for dividend growth and trade at reasonable valuations, and holds them in a relatively concentrated portfolio. The management goal is to pursue lower volatility and a higher dividend yield than the benchmark index.

• Active selection focused on global dividend stocks outside the US
• A concentrated portfolio that weighs dividend levels and valuations together

Assets under management (AUM) are $202.6M, and the total expense ratio is 0.75% per year.

The fund gives managers more discretion in stock selection than passive high-dividend index ETFs, but because it is actively managed, its fee burden is somewhat higher.

The performance of global dividend stocks outside the US is affected by exchange rates, interest rates in each country and economic conditions, so trends fluctuate. Because this is an active selection strategy, performance can differ from the benchmark index depending on the portfolio team's stock decisions.

Demand to diversify away from US concentration and a preference for overseas dividend income influence fund flows. In periods of dollar strength, the return of overseas assets converted into KRW or USD can be pressured, while in periods of dollar weakness, currency gains can add to returns.

Its strengths are non-US dividend diversification and active selection, while its weaknesses are the fee burden and exposure to currency and overseas market swings.

VYMI and VIGI, shown in the table, are lower-cost passive alternatives in the same non-US dividend category, focusing on high dividends and dividend growth respectively. DFAI, DFIC and DFAX offer broad core overseas exposure. In addition, IDV, which follows the same overseas dividend theme, and IXUS, which diversifies across the entire non-US market, can also be considered as comparison options.

Here are the points to review before investing in IDVZ. Since this is an overseas dividend ETF, thoroughly checking the expense ratio, currency exposure and reliance on active management in advance helps support stable investing.

Exchange rate moves and overseas market volatility are the main drivers of short-term performance. Also note that, because this is an active strategy, performance relative to the benchmark can diverge significantly depending on the portfolio team's stock decisions.

This is an active ETF suited to investors who want global dividend income and diversification outside the US. If low-cost passive exposure is the priority, consider VYMI or VIGI. If you prefer active selection, consider IDVZ.