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% |
Price history from exchange data. Dividend yields from reported distributions; some earlier years are derived from total-return vs price-return data or are ETFHub estimates. AUM history is an ETFHub estimate modelled from current assets and annual returns (fund flows not reflected) and may differ from official fund records. Data as of October 2026.
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