Dogs of the Dow is simply to top ten stocks in the Dow sorted by dividend yield.
Flying Five further sorts those by lowest price.
Net Payout yield is the top ten Dow stocks sorted by net payout yield.
For the past 30 years or so the Dogs strategy has outperformed the DOW by ~ 3% per annum, and the Net Payout Yield strategy another 3% on top of that (ditto for Flying Five). But are the results simply data mining? The NPY strategy certainly sits the best with me of any of them.
All three performed below the DJIA Index in 2007:
Flying Five: 4.18%
The 2008 names for Dogs, Flying Five, and Payout Yield are below:
Dogs of the Dow:
Payout Yield (only 40% overlap with the Dogs):