What Are the Dogs of 9/11 and How Do They Work
The Dogs of 9/11 strategy selects the 10 lowest-priced stocks in the Dow Jones Industrial Average each December, based on the previous year's price return. The portfolio is equally weighted and rebalanced annually, targeting high dividend yields and potential mean reversion in large-cap value stocks. The approach is a specific value-tilt overlay on the Dow, distinct from the broader Dogs of the S&P 500, and is documented by financial research firms and exchange providers. Learn the core mechanics at Forbes Advisor.
Historically, the Dogs of 9/11 have outperformed the full Dow in many rolling periods, though results vary by market cycle. The strategy's simplicity and rule-based nature make it a popular passive approach for retail and institutional investors seeking exposure to undervalued blue chips. Performance is typically measured against the Dow Jones Industrial Average and compared with other value strategies such as the S&P 500 value factor. The underlying index composition and rebalancing rules are published by index providers and financial data vendors.
Latest Holdings, Returns, and Key Figures
Recent annual selections include companies such as 3M, Chevron, Cisco, Dow Inc., Honeywell, Intel, McDonald's, Merck, Pfizer, and Walgreens Boots Alliance, with weights adjusted each December. Total return figures for the most recent full-year period show a mix of positive and negative outcomes depending on sector rotation, interest rate environment, and individual stock earnings revisions. Sector weightings skew toward industrials, healthcare, and energy, with consumer staples and information technology represented by a few names. Current holdings and historical return tables are available from financial data platforms and broker research pages like Forbes Advisor.
Dividend yields for the Dogs of 9/11 cohort typically range from roughly 3% to over 5%, with the aggregate yield often above the Dow average. Key metrics include price-to-earnings ratios, price-to-book ratios, and earnings growth estimates, which are updated quarterly by financial data providers. Rankings by market capitalization and free-float adjusted share count show the Dogs as a subset of the largest publicly traded U.S. companies. The most recent annual rebalancing results and constituent list are published by index providers and financial research platforms such as Forbes Advisor.
How to Use Dogs of 9/11 Data for Investment Decisions
Investors can implement the Dogs of 9/11 strategy through direct stock purchases, exchange-traded funds that track Dow-based strategies, or managed accounts with a value tilt. Brokerage platforms, robo-advisors, and financial planning tools increasingly offer screening tools that identify Dogs of the Dow candidates based on the latest annual selections. Risk management considerations include concentration risk from a 10-stock portfolio, sector exposure, and sensitivity to interest rate and inflation data. Detailed implementation guidance and backtested performance are available from research pages at Forbes Advisor.
Comparisons with other value strategies, such as the S&P 500 Low Volatility Index or Russell 1000 Value, help contextualize the Dogs of 9/11 risk-return profile. Regulatory filings, including SEC Form 10-K and 10-Q reports for constituent companies, provide audited financial data and risk