I own this fund and am a big fan of it. I was turned onto this fund by Dan Wiener who writes the "Independent Adviser for Vanguard Funds" newsletter. I like it because: A) its run by only one manager and B) The fund only has about 50 or so positions in which the management has strong conviction in. It has been a strong performer since Don Kilbride (from Wellington MGMT) took over and has limited losses during downturns. Despite its name though, the fund isn't one that focuses on yield, but rather companies that are poised to grow dividends in the long run. I read an interview with the manager, and he said that they look for companies with "battleship" balance sheets with strong growth prospects. If you are looking for high yield, you might look towards High Dividend Yield Index or Value Index. The management also does a great job of limiting CGs through a long term investing perspective, although that is of no consequence if in an IRA. I am not an active only guy and do own index funds, but I feel this is one fund with superior management (along with any Primecap fund). I continue to add to this position and consider it a core holding.