Overview
Mid-cap dividend payers weighted by dividends paid — income discipline applied to the market tier where it's scarcest and most telling.
Top Holdings
| Ticker | Holding | Weight |
|---|---|---|
| EVRG | Evergy Inc. | 1.4% |
| OGE | OGE Energy | 1.2% |
| PNW | Pinnacle West | 1.1% |
| RGA | Reinsurance Group | 1.1% |
| UNM | Unum Group | 1.0% |
| OHI | Omega Healthcare | 1.0% |
| JEF | Jefferies Financial | 0.9% |
| ALE | ALLETE Inc. | 0.9% |
| POR | Portland General | 0.8% |
| BKH | Black Hills Corp. | 0.8% |
Fund Details
Investment Thesis
A mid-cap that pays a real dividend is making a statement — cash generation past the growth-at-all-costs phase — and DON harvests exactly that cohort, dividend-weighted, since 2006. It behaves like mid-cap value with an income floor: less spectacular than the growth tier, sturdier in the storms, monthly payer throughout.
Who It's For
Income investors extending beyond large-cap payers, and mid-cap allocators who prefer the cash-paying half of the tier. Pairs naturally with DLN one size up.
10-Year History
| Year | Close | % Chg |
|---|---|---|
| 2016 | $28.60 | -- |
| 2017 | $31.46 | +10.0% |
| 2018 | $27.68 | -12.0% |
| 2019 | $33.77 | +22.0% |
| 2020 | $32.76 | -3.0% |
| 2021 | $41.61 | +27.0% |
| 2022 | $38.28 | -8.0% |
| 2023 | $41.72 | +9.0% |
| 2024 | $46.73 | +12.0% |
| 2025 | $50.00 | +7.0% |
| Year | Yield |
|---|---|
| 2016 | 2.80% |
| 2017 | 2.60% |
| 2018 | 3.00% |
| 2019 | 2.70% |
| 2020 | 2.90% |
| 2021 | 2.30% |
| 2022 | 2.70% |
| 2023 | 2.80% |
| 2024 | 2.50% |
| 2025 | 2.40% |
| Year | AUM | % Chg |
|---|---|---|
| 2016 | $1.6B | -- |
| 2017 | $1.9B | +18.7% |
| 2018 | $1.9B | +0.0% |
| 2019 | $2.2B | +15.8% |
| 2020 | $1.8B | -18.2% |
| 2021 | $2.8B | +55.6% |
| 2022 | $3B | +7.1% |
| 2023 | $3.2B | +6.7% |
| 2024 | $3.5B | +9.4% |
| 2025 | $3.7B | +5.7% |
Historical figures are ETFHub estimates modelled from asset-class return patterns and may differ from official fund records. Data as of August 2026.
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