The Legg Mason Low-Volatility High-Dividend ETF (NASDAQ: LVHD) and the Legg Mason International Low Volatility High Dividend ETF (CBOE:LVHI) — two of the more venerable names among high-dividend low-volatility exchange traded funds — are changing names.
LVHD will become the Franklin U.S. Low Volatility High Dividend Index ETF while LVHI is slated to become the Franklin International Low Volatility High Dividend Index ETF.
The name changes stem from Franklin Templeton’s acquisition of Legg Mason, which was completed in July 2020.
LVHI, a multi-cap international value fund, turns six years old next month and has $101.32 million in assets under management, according to issuer data. The fund follows the QS International Low Volatility High Dividend Hedged Index.
The fund holds 101 stocks with a median market value of $32.4 billion. LVHI features exposure to stocks from about two dozen developed markets, with Japan, the U.K., and Canada combining for about 46% of its geographic exposure.
Financial services, utilities, and consumer staples stocks combine for about 52% of the ETF’s roster. LVHI, which sports a 30-day SEC yield of 3.53%, is flat on a year-to-date basis, meaning it is trouncing the MSCI EAFE Index, which is saddled with a 2022 loss of almost 18%.
Regarding LVHD, that ETF turns seven years old in December. It has almost $602 million in assets under management and follows the QS Low Volatility High Dividend Index.
The fund holds 99 stocks with a median market capitalization of $44.83 billion, according to issuer data. Like many ETFs in the high-dividend/low-volatility category, LVHD is highly defensive, as highlighted by its combined weight of over 54% to the utilities, consumer staples, and real estate sectors.
None of LVHD’s components exceed a weight of 2.78%. LVHD, which yields 2.77%, is beating the S&P 500 by more than 1,200 basis points this year.
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