In 2007 the Dogs of the Dow strategy fell far short of expectations. For the year, the Dogs returned a negative -1.4% versus the Dow Jones Index return of 6.4%. For 2008, the only change to the Dow Dogs is Merck (MRK) being replaced by Home Depot (HD). Home Depot's yield is 3.34% versus Merck's yield of 2.62%. The calendar year returns for the Dog strategy can be found at the Dogs of the Dow website.
The 2008 dogs are detailed below:
(click on table for larger image)
Source: Dogs of the Dow