By Jeff DeMaso in Trade Alert Oct 16, 2025

IVA TRADE ALERT | Time to Change Defensive Horses

Same playbook, new player: Dividend Appreciation Index steps in where Dividend Growth leaves off—delivering predictable defense at a lower cost.

It’s time to move on from Dividend Growth (VDIGX). After a fresh look at the actively managed fund—and a good conversation with its manager, Peter Fisher—I’ve concluded it's time to make a change. You can read my complete analysis here and my exclusive interview with Fisher here.

Here’s the trade I’m making across the IVA Portfolios—and in my own account:

This post is for paying subscribers only

Already have an account? Sign in.