SDOG: High Dividends through a Beautiful Payout Outlook The ALPS Sector Dividend Dogs ETF (SDOG) is a high dividend exchange traded fund and one that’s benefiting from the rotation to cyclical value assets. Yet there’s much more to the story, and that’s a positive for investors. SDOG tries to reflect the performance of the S-Network Sector Dividend Dogs Index, which applies the “Dogs of the Dow Theory” on a sector-by-sector basis using the S&P 500 with a focus on high dividend exposure. SDOG’s equal-weight methodology is important because it reduces sector-level risk and dependence of some groups that are considered to be imperiled value ideas.