VanEck’s Dividend ETF Breaks Out a Non-US Twin After a 24% Run
24.06.2026 - 05:55:36 | boerse-global.de
With €8.1 billion in assets and a 12-month gain of 23.62%, the VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF (TDIV) has become a heavyweight in European investors’ dividend portfolios. Its performance has been strong enough to spawn a sibling: the VanEck Morningstar Developed Markets ex-US Dividend Leaders UCITS ETF (TDVX), which listed on the London Stock Exchange on 23 April 2026. That launch was partly driven by regulatory logistics—the original fund’s Dutch domicile blocks an accumulating share class, while the new Irish vehicle automatically reinvests dividends for investors who don’t need regular payouts.
The underlying index, the Morningstar Developed Markets Large Cap Dividend Leaders Screened Select Index, applies a three-part filter before it ranks stocks. A company must have paid a dividend in the past twelve months, its per-share payout cannot be lower than it was five years ago, and its expected payout ratio must stay under 75%. From the survivors, the index picks the 100 names with the highest dividend yields, caps any single position at 5% and any sector at 40%, and rebalances every June and December. The ETF currently holds 116 positions because of market?capitalisation rounding.
The portfolio’s sector mix is dominated by financials, health care and energy, while technology plays only a marginal role. That tilt reflects the index’s structural underweight in US stocks—high?yielding dividend payers are more abundant in Europe, the UK and Japan. The low US allocation proved a powerful advantage in 2022, when TDIV rose 15.8% even as the MSCI World and the S&P 500 each lost roughly 12–13% in euro terms. The pattern repeated in 2025: the ETF climbed 23.8%, propelled mainly by European holdings. The largest single positions today are Exxon Mobil at 5.64%, Verizon Communications at 4.64%, TotalEnergies at 3.64%, Nestlé at 3.56% and Pfizer at 3.55%; the top ten collectively represent 35.15% of assets. The portfolio’s price?to?earnings ratio stands at 13.41, well below the multiples of broad global indexes.
TDIV pays a quarterly dividend. Its most recent distribution was €0.81 per share, with an ex?dividend date of 3 June 2026 and payment on 10 June. The trailing twelve?month total came to €1.65, and VanEck expects similar levels over the coming year. The current dividend yield is 3.17%. Over the past decade the fund has never missed a payment, and the total annual distribution has risen by more than a third.
On a five?year annualised basis, TDIV has returned 17.9%, comfortably ahead of the 15.4% recorded by its Morningstar category index. The fund also holds a quantitative Silver rating from Morningstar, which expects it to outperform that index over a full market cycle. Its total expense ratio of 0.38% per year places it in the cheapest quintile of the “EAA Fund Global Equity Income” category, where the median cost is 1.06%.
The ETF’s shares closed at €52.11, roughly 5.7% above their 200?day moving average of €49.30 and 4.35% below the 52?week high of €54.48. However, the price has slipped about 3% in the past 30 days and now sits just under its 50?day average.
The broader environment has also provided tailwinds. In the first quarter of 2026, global flows into dividend?equity funds reached roughly $24 billion—the strongest first quarter in four years, after three consecutive years of net outflows. That surge in demand supports TDIV directly, while its new ex?US twin offers an accumulating option for investors who want exposure to the same disciplined yield?oriented strategy without receiving taxable distributions.
Ad
VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF Stock: New Analysis - 24 June
Fresh VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF information released. What's the impact for investors? Our latest independent report examines recent figures and market trends.
Read our updated VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF analysis...
