That’s despite some puzzling economics. At 1.96 percent, VIG is yielding less than the 10-year Treasury note and around the same as the S&P 500 Index, according to data compiled by Bloomberg. "I don’t really understand the value" of the dividend ETF, said Balchunas. "Especially because you can get the S&P for almost nothing."

This article was provided by Bloomberg News.

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