EDIV vs EYLD

EDIVAState Street SPDR S&P Emerging Markets Dividend ETF

EYLDCCambria Emerging Shareholder Yield ETF

In short

EDIV Running since 2011, EDIV screens emerging-market dividend payers on risk-adjusted yield, dividend-growth stability and profitability, then applies diversification limits. Quality of the dividend over raw yield, for 0.49% a year.

EYLD Most emerging-market dividend funds count the dividend. EYLD counts the whole payout: dividends, net buybacks and debt paydown, then screens the survivors on value. Live since 2016, 0.63% a year, no waiver involved.

Stated mandate

EDIV The fund seeks to track the total return of the S&P Emerging Markets Dividend Opportunities Index, which selects emerging-market stocks using risk-adjusted yield, dividend-growth stability, profitability, and diversification requirements.

EYLD The fund focuses on emerging-market companies that return cash to shareholders through dividends, share buybacks, and net debt reduction.

Why people hold it

• EDIV The index does real work: names qualify on risk-adjusted yield, dividend-growth stability and profitability, with diversification requirements, so one wobbly high-yielder cannot run the portfolio.ssga.com
• At 0.49% a year, the fee sits below the median for emerging-market dividend screens, and the fund tracks its index closely enough to rank among the stronger implementations in that group.
• A veteran, not an experiment: trading since 2011, a multi-billion-dollar fund from SPDR that distributes quarterly.

• EYLD Shareholder yield, not just dividend yield. Cambria ranks emerging-market names on dividends plus net buybacks, then factors in debt paydown and value metrics like P/B, P/E and EV/EBITDA.sec.gov
• Top 100 names, weighted roughly equally per the prospectus, so no single mega-cap runs the portfolio the way it does in a cap-weighted EM index.sec.gov
• Running since July 2016 under Cambria's Meb Faber, the manager who built the firm's shareholder yield lineup. Cash goes out quarterly.cambriafunds.com

Worth knowing

• EDIV Plainer routes cost less. Franklin's DIEM runs a dividend-tilt index at 0.19%, so the extra fee here buys the selection screen, not broader coverage.
• About 110 stocks, not the whole emerging market. Single-country politics and currency moves land harder than in a broad, thousand-name EM index fund.
• Trading is moderate rather than heavy, so spreads can widen in fast markets. Emerging-market dividends are seasonal, so quarterly payments vary in size.

• EYLD 0.63% is near the category norm but the high end of this short list: DIEM charges 0.19%, EDIV and DVYE 0.49%, DGS 0.58%. Active screening is what the fee buys.
• Buybacks and debt paydown return cash without hitting your account, so the quarterly distribution reflects only the dividend slice of shareholder yield.
• Cambria builds this to look different from the MSCI Emerging Markets Index by sector and valuation. Divergence from the benchmark is the design, in both directions.cambriafunds.com

Full EDIV profile⁠

Full EYLD profile⁠