The S&P Dividend ETF touched a new record, bucking Tuesday's big sell-off.
While the market's Tuesday sell-off left much to be desired, one typically overlooked corner reached new heights. Despite ending the session modestly down, the SPDR S & P Dividend ETF touched a new all-time high on Tuesday. It was able to sidestep a lot of the selling pressure faced by the S & P 500 , which slid more than 2%. The broad market index also wobbled during Wednesday's session.
SPX YTD mountain SDY vs S & P 500 in 2024 However, because the fund focuses on stocks that consistently provide dividends, that performance doesn't tell the whole story of what investors get. This can explain why the fund is in the top 15% of mid-cap value offerings for 2024 despite seeing muted returns, per Morningstar. To be sure, the fund has seen mixed performance in recent years by Morningstar's rankings.
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