5 Dividend ETFs to Hold Forever - Easy Millions

Summary

This video script offers an in-depth review of the top 5 dividend ETFs for long-term investment, focusing on historical performance, positive price growth, non-overlapping holdings, and distinct dividend strategies. It highlights the Amplify CWP Enhanced Dividend Income ETF for its unique options strategy, VanEck Energy Income ETF for targeting MLPs, Schwab US Dividend Equity ETF for its focus on established dividend payers, JP Morgan's Equity Premium Income ETF for its active management, and Wisdom Tree US Quality Dividend Growth Fund for its hybrid approach of growth and dividends. The script also discusses the importance of understanding fund performance and the potential for each ETF to contribute to a diversified and wealth-building portfolio.

Takeaways

• 💰 The video discusses the potential of dividend investments to grow wealth rapidly.
• 🌐 There are over 9000 ETFs globally, but the focus is on the top dividend ETFs suitable for long-term investment.
• 🔍 The presenter plans to review the top 5 dividend ETFs that can be held indefinitely, aligning with a 'forever' investment strategy.
• 🏆 The main criteria for selecting these ETFs include historical performance, positive price growth, less than 50% overlap in holdings, and distinct dividend strategies.
• 📈 The first ETF reviewed is Amplify CWP Enhanced Dividend Income ETF (DEVO), which uses a unique strategy of generating income from dividends and option premiums.
• 📊 DEVO has the highest expense ratio of the group at 0.56% and offers a dividend yield of 4.6%, with a focus on top-performing companies from the S&P 500.
• 📉 The second ETF is VanEck Energy Income ETF (EINC), targeting MLPs which are pass-through entities typically associated with resource-related companies.
• 🛢️ EINC has a high expense ratio of 0.46% and a dividend yield of 3.61%, with a strategy that benefits from low-interest rates.
• 💼 The third ETF is Schwab US Dividend Equity ETF (SCHD), known for including companies with a strong history of dividend payments and growth.
• 💼 SCHD has the lowest expense ratio at 0.06% and a dividend yield of 3.53%, making it a popular choice among investors.
• 📊 The fourth ETF is JP Morgan's Equity Premium Income ETF (JEPI), which actively manages its portfolio by selling options for additional income.
• 📈 JEPI offers the highest dividend yield of the group at 7.68%, with an expense ratio of 0.35%, but has a limited track record.
• 🌱 The fifth ETF is Wisdom Tree US Quality Dividend Growth Fund (DGRW), a hybrid focusing on both dividends and growth, with a lower expense ratio and the lowest dividend yield of the group.
• 📊 DGRW has shown strong performance over the past 12 months with a total return of 20% and the best five-year total return among the reviewed ETFs.
• 🔄 The script concludes with an analysis of the overlap in holdings among the reviewed ETFs, with DEVO and DGRW having the highest overlap at 28%.

Q & A

What is the main focus of the video script?

The main focus of the video script is to review the top 5 dividend ETFs that a person can potentially buy and hold forever, based on certain criteria such as historical performance, positive price growth, non-overlapping holdings, and distinct dividend strategies.

What does the term 'ETF' stand for?

ETF stands for Exchange Traded Fund, which is a type of investment fund and traded on stock exchanges, much like individual stocks.

Why is it important to consider the historical performance of dividend ETFs?

Historical performance is important as it gives an indication of how the ETF has performed in the past, which can be a useful predictor of future performance, especially for long-term investment strategies.

What is the significance of positive price growth in the context of dividend ETFs?

Positive price growth ensures that the ETF is not just offering dividend growth but also increasing in overall value over time, avoiding the risk of dividend traps where the company pays high dividends but is losing overall value.

Why is it suggested to avoid funds that overlap with one another more than 50%?

Avoiding high overlap ensures diversification in the investment portfolio, reducing risk and preventing the redundancy of having several funds with identical or very similar holdings.

What is the Amplify CWP Enhanced Dividend Income ETF's strategy for generating income?

The Amplify CWP Enhanced Dividend Income ETF's strategy is to generate 4% to 7% of its income from dividends and option premiums by writing call options on the top 25 outperforming companies within the S&P 500 holdings.

What is the VanEck Energy Income ETF's focus and what type of companies does it typically invest in?

The VanEck Energy Income ETF focuses on investing in Master Limited Partnerships (MLPs), which are pass-through entities typically associated with resource-related companies such as those in the gas, oil, coal, and timber industries.

What is the significance of the dividend yield in evaluating an ETF's performance?

The dividend yield indicates the annual dividend income an investor can expect to receive from the ETF, expressed as a percentage of the ETF's share price. It is a key factor for income-focused investors.

How does the Schwab US Dividend Equity ETF select its holdings?

The Schwab US Dividend Equity ETF selects its holdings based on companies with a long track record of dividends and dividend growth, ensuring the fund consists of high-quality dividend-paying equities.

What is the difference between the strategies of the JP Morgan Equity Premium Income ETF and the Amplify CWP Enhanced Dividend Income ETF?

While both ETFs use an active management strategy involving selling options to generate additional income, the JP Morgan Equity Premium Income ETF has a larger number of holdings and offers nearly double the dividend yield of the Amplify CWP ETF, but at a lower expense ratio and with a shorter track record.

What is the Wisdom Tree US Quality Dividend Growth Fund's approach to selecting its holdings?

The Wisdom Tree US Quality Dividend Growth Fund focuses on forward-looking earnings estimates along with historical return on assets and return on equity growth for its selection, making it a hybrid ETF that combines both growth and dividend potential.

Why is it important to consider the overlap of holdings among different ETFs?

Considering the overlap of holdings is important for ensuring diversification and avoiding concentration risk. It helps investors to understand the unique value each ETF brings to their portfolio.

What is the significance of the compound annual growth rate (CAGR) in evaluating an ETF's performance over time?

The CAGR provides a measure of an ETF's growth rate over a specified period of time, compounding the return each year, which helps investors understand the average annual growth rate of the investment.

How does the video script address the potential for personal bias in the ETF recommendations?

The script acknowledges that the investments discussed may be ones the speaker is researching or already owns, but emphasizes that these may not necessarily be the best for the viewer. It encourages viewers to understand the speaker's mindset and make their own decisions.

What is the role of the sponsor, Nevada Canyon Gold, in the context of the video script?

Nevada Canyon Gold is the sponsor of the video, mentioned as an example of a company that has performed well in the past year and operates in the gold industry, which is noted for its stability during recessions.

Outlines

00:00

💰 Exploring Top Dividend ETFs for Long-Term Wealth Building

The script introduces the concept of dividend investments and the importance of selecting the right exchange-traded funds (ETFs) for wealth accumulation. It emphasizes the vast number of ETFs available and the goal of reviewing the top 5 dividend ETFs that one could potentially hold indefinitely. The criteria for selection include historical performance, positive price growth, minimal overlap in holdings, and distinct dividend strategies. The speaker, who retired at 46, shares personal experience and invites viewers to consider their own investment strategies, offering a spreadsheet of discussed ETFs for further analysis.

05:04

🏵 Diving into Amplify CWP's Dividend and Option Strategy

This paragraph focuses on the Amplify CWP Enhanced Dividend Income ETF (DEVO), which differentiates itself by combining dividend income with option premiums. The fund's strategy involves writing call options on top-performing S&P 500 companies, offering downside protection while limiting some upside potential. The fund's holdings include well-established companies like Microsoft and Visa, and it has the highest expense ratio among the reviewed ETFs due to its active management. The performance metrics, including a 4.6% dividend yield and a 12% total return over the trailing 12 months, are highlighted, along with the importance of considering both price and total return when evaluating a fund.

10:08

📈 Analyzing the VanEck Energy Income ETF's Performance and Strategy

The script discusses the VanEck Energy Income ETF (EINC), which targets master limited partnerships (MLPs) known for their pass-through entity structure and exemption from corporate taxes. The fund is associated with resource-related companies and has performed well during periods of low interest rates. The holdings include long-standing companies in the energy sector, and the fund has a high expense ratio of 0.46% with a 3.61% dividend yield. The performance is impressive, with a significant total return over the trailing 12 months and a 3-year total return of over 18%, despite a negative price growth rate over three years due to fluctuating interest rates.

🌐 Sponsor Spotlight: Nevada Canyon Gold's Growth and Strategy

The script briefly introduces a sponsor, Nevada Canyon Gold, which has seen substantial stock growth over the past year. The company operates in Nevada, focusing on royalty interests, precious metal streams, and exploration accelerators. It supports capital investments for emerging miners and prospectors without incurring heavy debt for equipment, making it a lucrative model. The company's expertise in guiding others to mine more resources efficiently is highlighted.

🍹 Comparing Popular Dividend ETFs: SCHD, JEPI, and DGRW

The script reviews three additional dividend ETFs: the Schwab US Dividend Equity ETF (SCHD), known for its focus on high-quality dividend-paying equities; JP Morgan's Equity Premium Income ETF (JEPI), which actively manages a portfolio of stocks and options; and the Wisdom Tree US Quality Dividend Growth Fund (DGRW), a hybrid focusing on both dividends and growth. Each fund is analyzed based on its holdings, expense ratio, dividend yield, and historical performance. The overlap in holdings among the funds is discussed, with the greatest overlap between DEVO and DGRW at 28%. The video concludes with a mention of another video for those interested in ETFs that offer monthly dividends.

Keywords

💡Dividend Investments

Dividend investments refer to financial assets, such as stocks or funds, that regularly distribute a portion of their earnings to investors in the form of dividends. In the context of the video, dividend investments are highlighted as a powerful wealth-building tool, with the potential to grow an individual's wealth significantly over time. The video aims to review the top dividend ETFs for long-term investment.

💡ETFs (Exchange Traded Funds)

ETFs are investment funds that are traded on stock exchanges, much like individual stocks. They hold a collection of assets, which can include stocks, bonds, or commodities, and aim to track the performance of a specific index. The script mentions over 9000 ETFs worldwide, emphasizing the importance of selecting the right ones, particularly those that focus on dividends, for investment.

💡Historical Performance

Historical performance refers to the past record of returns or growth that an investment has demonstrated. It is one of the main criteria used by the video creator to judge the quality of dividend ETFs. It helps investors understand how the ETF has performed in different market conditions and is an indicator of potential future performance.

💡Price Growth

Price growth indicates the increase in the value of an investment over time. The video emphasizes the importance of positive price growth in addition to dividend growth, ensuring that the investment is not just a 'dividend trap' that may be losing overall value despite paying dividends.

💡Fund Holdings

Fund holdings refer to the specific assets or securities that an investment fund, like an ETF, owns. The script discusses the importance of evaluating the holdings of dividend ETFs to ensure diversity and avoid overlap, which is crucial for a balanced investment strategy.

💡Dividend Yield

Dividend yield is a financial ratio that shows the annual dividend income an investor can expect to receive from an investment, expressed as a percentage of the investment's price. The video mentions the dividend yield of various ETFs, highlighting it as a key factor in evaluating their attractiveness to income-focused investors.

💡Expense Ratio

The expense ratio of a fund represents the annual fee charged by the fund manager, expressed as a percentage of the fund's total assets. It is an important consideration for investors as it directly impacts the net return on investment. The video provides specific expense ratios for the ETFs discussed, showing how they compare in terms of cost.

💡Total Return

Total return is the overall gain or loss from an investment, including both capital gains and dividends. The video uses total return as a performance metric for the ETFs, emphasizing its importance in understanding the overall profitability of an investment, especially when the price return is negative.

💡MLPs (Master Limited Partnerships)

MLPs are a type of business structure that allows companies, often in the energy sector, to be taxed as partnerships rather than corporations, potentially offering tax advantages. The script discusses an ETF that targets MLPs, highlighting their potential for performance, especially in a low-interest-rate environment.

💡Compounded Annual Growth Rate (CAGR)

CAGR is the rate of return that would be required for an investment to grow from its initial to its final value over a certain period, compounded annually. The video uses CAGR to evaluate the long-term growth potential of the ETFs, providing insight into their historical performance over multiple years.

💡Overlap in Holdings

Overlap in holdings refers to the situation where multiple investment funds have similar assets in their portfolios. The video discusses the overlap among the top dividend ETFs to demonstrate the diversity of investments and the rationale behind choosing a mix of funds to avoid excessive similarity and achieve a balanced portfolio.

Highlights

The power of dividend investments can accelerate wealth growth.

There are over 9000 ETFs worldwide, with a portion focusing on dividends.

The goal is to identify the top 5 dividend ETFs for long-term investment.

The speaker retired early and shares his wealth-building strategies through YouTube.

The main criteria for judging ETFs include historical performance and positive price growth.

ETFs should not overlap more than 50% in holdings to avoid redundancy.

Each ETF should have a distinct dividend strategy.

The speaker's investment recommendations are based on personal research and holdings.

Investors are encouraged to share their own preferred dividend ETFs in the comments.

A spreadsheet with all discussed ETFs and those not making the cut is provided in the video description.

Amplify CWP Enhanced Dividend Income ETF (DEVO) aims for 4-7% income from dividends and option premiums.

DEVO has the highest expense ratio due to active management of call options.

Performance metrics for DEVO include a 12% total return and 4.6% dividend yield.

VanEck Energy Income ETF (EINC) targets MLPs with a focus on resource-related companies.

EINC's performance has been strong, with an 18% three-year total return.

Schwab US Dividend Equity ETF (SCHD) is popular for its focus on high-quality dividend-paying equities.

SCHD has the lowest expense ratio and a 3.53% dividend yield.

JP Morgan Equity Premium Income ETF (JEPI) is actively managed, similar to DEVO, but with more holdings.

JEPI offers a high 7.68% dividend yield but has a shorter track record.

Wisdom Tree US Quality Dividend Growth Fund (DGRW) combines dividend focus with growth potential.

DGRW has the lowest dividend yield but the best five-year total return at nearly 13%.

Overlap analysis shows the greatest commonality between DEVO and DGRW, with 28% shared holdings.

Transcripts

Most everyone knows the power of dividend  investments, where the right ones can  

snowball and grow your wealth quicker than a  dog spotting a squirrel in the park. However,  

there are over 9000 exchange traded funds or ETFs  worldwide, and only a portion of those lean in on  

dividends. And a person certainly doesn't need to  invest in every single one, we just need to bring  

the top options to the surface to make the best  investment decisions. And that's why I plan to  

review the top 5 dividend ETF a person can buy  and hold FOREVER. FOREVER. And buy forever? I  

really mean until you've reached platinum status  in life where you can prioritize your free time  

over everything else and do whatever you want like  traveling overseas, playing 18 rounds of golf on a  

Tuesday, day drinking with fruity cocktails in the  Caribbean, or play video games all day long. Hey,  

there is no judgment here. I retired at 46 just  so I can make YouTube videos on how I made my  

wealth. I am the last person on earth that should  criticize anyone on how to spend their retirement.  

In this video, my goal is to review 5 dividend  ETFs where you can have all of them in your  

portfolio to help make you wealthy. And my main  criteria for judging them comes down to 4 points.  

And the first is historical performance. Clearly,  we want to make the most money that we can. And  

the second is that the fund must have positive  price growth, not just dividend growth. This  

ensures that we aren't just looking at dividend  traps that are losing overall value over time.  

And the third item is that none of these funds  overlap with one another more than 50% based on  

their holdings. There's really no point in having  several funds that are identical to one another.  

And make certain to stay to the very end of the  video to see the overlap between these funds.  

And the last point is that each one of them has a  distinct strategy for their dividends. And this is  

the part that you're going to want to pay close  attention to. Because this ensures that all five  

funds are potentially worth having. Now I do want  to take a moment to acknowledge the fact that most  

all the investments that I speak to in my videos  are ones that I am either researching for my own  

portfolio, or they're ones that I already have.  But that doesn't mean that they're necessarily  

the best for you. Nor do I want you to feel like  I'm pushing any of my opinions onto you. I try  

to provide the facts on what's available, along  with the strategies that I'm using so that you can  

better understand what my mindset is. Your list  of go to dividend ETFs may be completely different  

than mine. And that is perfectly fine. And if  that's the case, please share any other dividend  

ETF that others may want to know about in the  comments below. And just like most of my videos, I  

do have a spreadsheet linked in the description to  all the ETF that I discussed today, along with all  

of the funds that really didn't make the cut. With  that said, let's talk about the first dividend ETF  

from Amplify CWP enhanced dividend income ETF with  a symbol DEVO. And literally every time that I say  

that, I can't help but think of the 80s band with  the goofy hats. As far as the fund, the strategy  

behind it is to generate 4% to 7% of its income  from dividends and option premiums. The manager  

writes call options on the top 25 outperforming  companies within the holdings, which all come  

from the S&P 500. This is meant to provide  downside protection from the buy right strategy,  

but it also stunts some of the upside growth  within the stock. And because of the call options,  

this fund sets itself apart from most other  dividend ETF. And in looking at the holdings,  

I don't think anyone would flinch from looking  at the top companies for this fund, seeing as how  

they're all well managed with solid financials  over the years for the likes of Microsoft,  

Caterpillar, Walmart, and Visa. And in digging  deeper, we see this fund has the highest expense  

ratio of the group at 0.56% due to how actively  managed the fund is within its call options. And  

the dividend yield is at a respectable 4.6%, which  is one of the highest of the group. Now, when we  

look at the performance, the trailing 12 months  referred to as TTM, it has the price of over 7%.  

The dividend growth nearly 2.9% and the total  return is just over 12%. It is extremely important  

that you look at the price and the total return  of a fund. If the fund happens to have a negative  

price return, but the total return is positive,  that means that the dividend is what's keeping the  

funds head really above water. I try to personally  stay completely clear of those types of funds. Now  

I am listing the growth of the dividend and that  is less important to me because that indicates if  

the dividend payout is growing or declining.  And so long as it isn't an extreme decline,  

then it doesn't really worry me too much. And I  do have an example of that later on. As for this  

fund at the three year Kager or compounded annual  growth its price growth was low, which was true  

for most all stock in the past three years. But  thanks to the dividend, the total Kager was over  

7%. And when we look at the five year return, the  total Kager was over 11%. And that's really not  

bad given the past three years. And over the past  couple of years, the market has had some serious  

ups and downs where dividend investments tend to  do much better than growth and technology stock  

during those hard times. And as a quick side note,  gold is another investment that has consistently  

been steady during recessions. And in looking at  this chart, you can tell that gold can hold its  

own with the S&P 500. Which brings me to today's  sponsor, Nevada Canyon Gold, which saw its stock  

go up over 77% in the past year, where they  are not indexed to gold, but rather they build  

their equity from royalty interests, precious  metal streams, and exploration accelerators.  

They operate solely in Nevada and they facilitate  capital investments with up and coming miners  

and prospectors. Nevada Canyon Gold has the  expertise to guide others that own all that  

expensive capital expenditures to earn and mine  more resources. This model is extremely lucrative  

for Nevada Canyon Gold because they aren't heavy  in debt for all of that expensive equipment in  

this particular industry. They just support others  that do. If you're interested, please feel free to  

check them out in the link below. Let's move on to  the second fund of VanEck Energy Income ETF with  

the symbol E-I-N-C. I believe this fund will seem  completely foreign to many of you. And honestly,  

I think that's a good thing because the  strategy behind this fund is to target MLPs,  

where MLPs are master limited partnerships that  are a pass through entity. So it isn't subject to  

corporate taxes. These are typically associated  with resource related companies, including gas,  

oil, coal and timber. And as a frame of reference,  MLPs tend to perform better when interest rates  

are low. So this is a fund that you will look to  have more upside in the next couple of years. But  

first, let's look at the holdings where you can  quickly see those key resource focused companies  

like OneOK, which is a company that engages in  gathering, processing, transporting and storing  

natural gas in the Midwest part of the country.  And they've been in business for over 100 years.  

This sort of story is similar among many of the  holdings for VanEck's Energy ETF, where I don't  

recognize any of these names yet they've been  around for decades. So let's look at the expense  

ratio where it is fairly high at 0.46%. And the  dividend yield is a solid 3.61%. But I do want to  

point out that when you look at the dividend yield  prior to 2021, it was substantially higher when  

the interest rates were lower. And that's just  something to be mindful of for the future for  

this fund. Now let's look at the performance where  the trailing 12 months for both the price and the  

total return have been on a freaking tear, given  that this is a fund made up of mature companies.  

And I love that the three year total return is  over 18%. This is part of the beauty of this  

fund because it's overperformed at a time when  growth stocks took a major nosedive. And when  

we take a step back and look at the five year,  it is a little interesting that the price of the  

fund had a compounding annual growth rate of only  3.7%. But the total return was over 9% for the  

Kager. Now you may be freaked out by seeing the  dividend Kager being negative, but keep in mind  

that this is the growth of the dividend yield. So  when we look back at the chart with the dividend  

yield over time, you see that it took a severe  drop once interest rates began to skyrocket,  

which explains the negative growth in the dividend  yield. Once again, it's definitely just something  

you want to understand why it occurred and how the  fund may change in the future. Now we'll look at  

the Schwab US Dividend Equity ETF with a symbol  SCHD, and it is probably one of the most popular  

dividend ETFs available. And with good reason,  it is the hallmark of the best in class dividend  

paying equities, where the managers ensure  that only companies with a long track record  

of dividends and dividend growth can be in the  fund. And that is painfully obvious when you look  

at the top holdings of companies like Lockheed  Martin, Chevron, Pepsi, and Coca-Cola. Okay, okay,  

not to stir the pot too much, but in the comments,  let's hear it. Which is best, Coke or Pepsi? Hey,  

I'll even kick it off and I'll share my favorite  as being "Cola or pop" is so refreshing on a  

summer day. It's also refreshing when you can  press that like button to allow my channel to  

be shared out more broadly. And I'd love it if  you'd consider subscribing to be up to date with  

all of my latest content. Now getting back to  SCHD, it has the lowest expense ratio of the  

group at 0.06%, and the dividend yield is a solid  3.53%. Now looking at the performance of the fund,  

the trailing 12 months, 3 year and 5 year are  all quite respectable at both the price kegger  

and the total return. And this is why it is one  of the favorites of the group, and analysts are  

also forecasting it with an average upside of over  13%. Honestly, I have nothing more to add to this  

fund. It is popular for all the right reasons.  Now on to the next popular fund of JP Morgan's  

equity premium income ETF with a symbol JEPI,  where its strategy is similar to DEVO's fund,  

where it is actively managed selling options to  generate additional income. The difference between  

the two is that JEPI has a lot more holdings and  they generate nearly double the dividend yield  

as the DEVO fund at a much lower expense.  But JEPI hasn't been around for very long,  

so they have a very limited track record. And  please keep in mind that I'll be showing the  

overlap in holdings among the funds at the very  end of the video. As for JEPI, its top holdings  

range from top companies like Progressive,  Amazon and Trane, where the JEPI expense  

is really middle of the pack at 0.35%, and the dividend yield happens to be the highest  

of the group at 7.68%. Now let's jump right into  the performance where the trailing 12 month total  

return is good at just over 11%, and the three  year total Kager is just over 7%. And a weakness  

for this ETF is that the fund price Kager is  negative 1.37% over the three year, and that does  

go against one of my top criteria listed at the  beginning of this video. But given its popularity,  

I felt it was important to share this fund so  you can see how it compares among all of these  

other funds. Technically, it shouldn't have even  made my list, but now you can see how it has some  

similarities to the Divo fund, and you can make  the best decision for yourself. Now on to the next  

fund of Wisdom Tree US Quality Dividend Growth  Fund with the symbol DGRW. And I believe that  

many of you may be familiar with this fund where  its strategy is to focus on the forward-looking  

earnings estimates with the historical return  on assets and the return on equity growth for  

its selection. So it's more of a mix of dividends  along with growth, which makes it more of a hybrid  

dividend ETF, which I think is quite evident  when you look at the top holdings of companies  

like Microsoft, Apple, P&G, and Coca-Cola. Like I  said, it's more of a hybrid ETF of both growth and  

dividends, and it happens to have expenses that  are lower than the average at 0.28%. But in turn,  

the dividend yield is the lowest of the group  at 1.68%. And when we look at the performance,  

it is rocking the past 12 months with a total  return of 20%. And the three-year Kager for price  

and total are pretty good given the challenges of  the past few years. And the five-year Kager is the  

best of the group for the total return at nearly  13% compounded annual growth. And this fund has  

analysts the most excited from amongst this group  with an average forecast of nearly 14%, which  

happens to also be the highest positive sentiment  among the funds today. Now I want to look at the  

overlap of all the funds with regards to their  holdings, where you can see the greatest overlap  

is between Devo and DGRW at 28% overlap in weight  of holdings. Then it's JEPI and DGRW at 25%. Then  

it's SCHD and DGRW at 22%. From here, there is  very little overlap between the other funds. In  

fact, the EINC fund or VanEck Energy Income ETF  has zero to no overlap with most of the other  

funds. Now if you're the kind of person that's  more interested in ETFs that pay you a monthly  

dividend, then you'll want to check out this  video right here. Thanks so much for watching!