Hi , just came across this ETF DGRP . The US version DGRW pays dividends monthly and have a lower ER 0.28% , DGRP pays quarterly and the ER 0.33%. Thanks
Hello! Thank you for your suggestion. I will forward it to our investment team, who will look into adding it to our DIY portfolio option.
Hi all , my question is why the US version DGRW pays dividends monthly and have a lower TER 0.28% , DGRP pays quarterly ( less work monitoring the ETF and more expensive) and the TER 0.33%? That doesn’t make any sense , Uk traders are not been taken care here in my view by IE.Should be reviewed .Thank you for your time.
The US domiciled DGRW can’t be made available to UK retail clients. (It doesn’t comply with PRIIPS rules.)
According to Wisdom Tree, DGRW/DGRP are the USD and GBx versions of the fund, both charging 0.33, both quarterly dividends.
link to DGRW/DGRP factsheet
See charge and distribution frequency on Page 1, and exchange listings information on Page 2.
UK residents are generally better off with GBX versions as they don’t incur charges for converting currencies to buy/sell.
Yes Ned, there is DGRW on the London Stock Exchange domiciled in Ireland, but that’s a different one. I think Zaratrau was referring to the US domiciled one judging by the details he gave.
thank you @stehuk, I see it now.
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There are DGRW and DGRP versions of the fund listed on the LSE as you indicate stehuk (see factsheet too) so could be purchased in the UK (but it would be necessary to buy dollars first for DGRW).
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You are both correct too though: there is a Nasdaq listing for a DGRW version too - with monthly payout and cheaper charge.
In that case @zaratrau, stehuk is right: you won’t be able to buy the US Nasdaq-listed ETF in a UK ISA (unless it is registered with the FCA - unlikely as WisdomTree have UK-registered versions that they charge more for).
Your issue is actually with WisdomTree not IE, as to why they charge UK people more than US people for their fund. Also with the FCA, on why you can’t buy US-domiciled ETFs in your ISA.
So QYLD ( QYLP ) has all the requirements and pays monthly in the UK , TER 0.45% UK , TER 0.65% US but DGRW can’t pay monthly . Understand that its not IE how decides all this issues , but if its good for costumers , will be good for IE and good for WisdowmTree and the end of the day . Thank you all for the replies . Keep up the good work IE . Have a great trading week everyone .
Unusual, but you are correct: Global-X Nasdaq Covered-Call ETF has cheaper TER for UK version than the US.
There is a key difference in the versions though: the US version owns the stocks it sells options for, while Irish version traded on the LSE is a synthetic. Synthetics are usually cheaper, but carry greater counterparty risk.