The 10-year Treasury yields 4.12%. You can get 5% from a money market fund without touching stocks. So why would anyone pay for a dividend stock newsletter?
Because yield isn’t the point. Yield growth is the point. A Treasury bond pays the same coupon for 10 years while inflation erodes its value. A quality dividend stock—one with a genuine competitive moat—raises its payout year after year, often outpacing inflation. That’s the difference between income and growing income.
Morningstar DividendInvestor makes a specific promise: apply Morningstar’s moat-analysis methodology to dividend stocks, filtering for companies with sustainable competitive advantages and reasonable valuations. It’s a compelling pitch. But does the execution match the promise?
Quick Verdict
Morningstar DividendInvestor is worth it for income investors who trust Morningstar’s methodology and want a curated, low-maintenance approach to dividend investing.
At approximately $170/year (pricing requires contacting Morningstar directly), you’re paying roughly $3.27/week for access to a concentrated, best-ideas dividend portfolio backed by Morningstar’s research infrastructure. The newsletter applies the same economic moat framework that made Morningstar famous—but specifically to income-producing stocks.
The catch: unlike some competitors, Morningstar doesn’t publish transparent performance data for the Dividend Select portfolio. You’re buying into the methodology and the Morningstar brand, not a verified track record you can scrutinize.
Best for: Income investors who want moat-focused dividend picks without doing the research themselves. Particularly valuable if you’re building a retirement income stream and want to avoid dividend traps.
Not for: Active traders, investors who need daily picks, or those who require transparent performance data before subscribing.
The Methodology Behind the Picks
Here’s where Morningstar DividendInvestor differentiates itself from generic dividend screeners.
Most dividend investors make a critical mistake: they sort by yield and buy whatever pays the most. This is how you end up owning companies right before they cut their dividends. High yield often signals distress, not opportunity.
Morningstar’s approach inverts this. Instead of starting with yield, they start with competitive advantage—what they call “economic moats.”
The Moat-First Framework
The newsletter focuses on companies with:
- Wide or narrow economic moats — sustainable competitive advantages that protect profits
- Reasonable valuations — not overpaying for quality
- Sustainable dividend payments — cash flow that supports and grows the payout
- Stronger competitive positions than peers — companies winning in their industries
This isn’t a high-yield strategy. It’s a dividend quality strategy. The goal is income that grows over time, not maximum current yield that might disappear.
The Dividend Select Portfolio
The newsletter features a real-money, six-figure portfolio called Dividend Select. This isn’t a paper portfolio—Morningstar actually invests according to this strategy.
Recent holdings have included names like:
- Eversource Energy
- JPMorgan Chase
- Medtronic
- Roche
- Wells Fargo
These aren’t yield traps. They’re established companies with competitive advantages and histories of dividend growth.
Explore Morningstar DividendInvestor
What You Actually Get
The Core Newsletter
Morningstar DividendInvestor delivers monthly issues featuring:
| Component | What It Includes |
|---|---|
| Dividend Select Portfolio | Real-money portfolio updates and activity |
| Stock Analysis | Morningstar analyst research on holdings |
| The Week in Dividends | Weekly updates on declarations, payments, and news |
| Dividend Calendar | Upcoming payment schedules for portfolio holdings |
| Portfolio Manager Commentary | Insights from George Metrou, CFA |
The Team
The newsletter is edited by David Harrell, who joined Morningstar in 1994 and has held senior research and product development roles. The portfolio is managed by George Metrou, an equity portfolio manager with Morningstar Investment Management who holds the CFA designation.
This isn’t a one-person operation running stock picks from a basement. It’s backed by Morningstar’s institutional research infrastructure—the same analysts who rate mutual funds and assign moat ratings to thousands of stocks.
What’s NOT Included
To set expectations clearly:
- No research platform access — This is a newsletter, not Morningstar Investor
- No stock screeners — You get curated picks, not DIY tools
- No real-time alerts — Monthly publication with weekly updates
- No other Morningstar newsletters — Each newsletter is separate
If you want the full research platform with screeners and tools, you need Morningstar Investor ($249/year).
Try Morningstar DividendInvestor
The Track Record Question
Here’s where I have to be direct with you: Morningstar doesn’t publish transparent performance data for the Dividend Select portfolio on their public website.
The portfolio exists. It’s real money. But you can’t verify returns before subscribing.
This is a meaningful limitation. Motley Fool publishes Stock Advisor’s returns vs. the S&P 500.
With Morningstar DividendInvestor, you’re buying into:
- The Morningstar brand and reputation
- The moat-focused methodology
- The expertise of the team
That might be enough for you. Morningstar has been in business since 1984 and built its reputation on rigorous research. But if you need to see specific numbers before committing, this isn’t the service for you.
The Bottom Line: The methodology is sound. The team is credentialed. The track record is opaque. You’re betting on process, not proven results.
For a broader look at dividend investing services, explore our best stock advisors guide.
Pricing and Value
The Cost
| Option | Price | Notes |
|---|---|---|
| Annual Subscription | ~$170/year | Contact Morningstar directly for current pricing |
| Print + Digital | Slightly higher | Call 1-866-608-9570 |
Pricing isn’t publicly listed on the website—you need to contact Morningstar directly. Based on comparable Morningstar newsletters (FundInvestor is $170/year digital), expect similar pricing.
The Math
At $170/year, you’re paying about $14.17/month or $3.27/week.
Let’s think about breakeven. If you invest $10,000 in dividend stocks and the newsletter helps you avoid one dividend cut that would have dropped a holding 20%, you’ve saved $2,000—more than 10 years of subscription costs.
The value proposition isn’t “this will make you rich.” It’s “this will help you avoid expensive mistakes and build reliable income.”
Compared to Alternatives
| Service | Price | Focus |
|---|---|---|
| Morningstar DividendInvestor | ~$170/year | Moat-focused dividend stocks |
| Simply Safe Dividends | $199/year | Dividend safety scores and cut predictions |
| Morningstar Investor | $249/year | Full research platform (not a newsletter) |
| Sure Dividend Newsletter | $199/year | Dividend growth investing with model portfolios |
Start with Morningstar DividendInvestor
The Trade-Offs
What Works
- Moat-focused methodology — Goes beyond yield to analyze competitive advantage
- Morningstar’s research infrastructure — Access to institutional-quality analysis
- Real-money portfolio — The team invests according to their recommendations
- Concentrated approach — Best ideas, not a sprawling watchlist
- Experienced team — Editor with 30+ years at Morningstar, CFA-credentialed portfolio manager
What Doesn’t
- No transparent performance data — Can’t verify track record before subscribing
- Newsletter format only — No interactive tools or screeners
- Pricing opacity — Must contact Morningstar for current pricing
- Monthly frequency — Not for investors who want daily or weekly picks
- No refund policy clarity — Terms not explicitly stated on website
Who Should Subscribe
Morningstar DividendInvestor fits you if:
- You’re building a retirement income portfolio and want professional guidance
- You trust Morningstar’s methodology and don’t need to see performance data
- You prefer a curated, low-maintenance approach over DIY research
- You understand that dividend growth matters more than current yield
- You have a 5+ year time horizon for your income investments
Skip this if:
- You need transparent performance data before subscribing — consider Simply Safe Dividends instead, which publishes dividend safety score accuracy
- You want a full research platform — Morningstar Investor gives you screeners, tools, and data
- You’re an active trader — this is a monthly newsletter, not a trading service
- You want growth stocks, not income — see our Stock Advisor review instead
Best Alternatives
If You Want Dividend Safety Scores
Simply Safe Dividends ($199/year) focuses specifically on predicting dividend cuts. Their Dividend Safety Scores quantify risk, and they publish historical accuracy data. If your primary concern is avoiding dividend traps, this is more specialized.
If You Want a Full Research Platform
Morningstar Investor ($249/year) gives you the research tools, screeners, and data that DividendInvestor doesn’t include. See our Morningstar Investor review for the full breakdown. You can build your own dividend screens using Morningstar’s moat ratings. Better for DIY investors who want tools, not picks.
If You Want Dividend Growth Model Portfolios
Sure Dividend Newsletter ($199/year) offers model portfolios focused on dividend growth investing, including their Dividend Kings and Dividend Aristocrats analysis. Good for investors who want a systematic approach to dividend growth.
Final Verdict
Morningstar DividendInvestor is a credible, methodology-driven newsletter for income investors who trust the Morningstar brand.
The moat-focused approach is sound—starting with competitive advantage rather than yield is exactly how sophisticated dividend investors think. The team is experienced and credentialed. The real-money portfolio demonstrates skin in the game.
The limitation is transparency. Without published performance data, you’re betting on methodology and reputation rather than verified results. For some investors, Morningstar’s 40-year track record is enough. For others, the lack of specific numbers is a dealbreaker.
My recommendation: If you’re building a dividend income portfolio and you value Morningstar’s research approach, this newsletter provides a curated, low-maintenance way to identify quality dividend stocks. At ~$170/year, the cost is reasonable for the institutional-quality research.
If you need to see performance data before subscribing, or if you want interactive tools rather than a newsletter, look elsewhere.
Five years from now, the investors who succeed with dividend investing won’t be the ones who chased the highest yields. They’ll be the ones who focused on quality—companies with moats that protected and grew their dividends through whatever the market threw at them.
That’s what Morningstar DividendInvestor is selling. Whether the execution matches the promise is something only subscribers can verify.
Try Morningstar DividendInvestor
Frequently Asked Questions
Is Morningstar DividendInvestor worth the money?
For income investors who trust Morningstar’s methodology, yes. At approximately $170/year, you get access to a moat-focused dividend strategy backed by Morningstar’s research infrastructure and a real-money portfolio. The value comes from avoiding dividend traps and identifying quality income stocks—if the newsletter helps you avoid even one dividend cut, it pays for itself many times over. The caveat: Morningstar doesn’t publish transparent performance data, so you’re buying into methodology and brand reputation rather than verified returns.
What are the best alternatives to Morningstar DividendInvestor?
The best alternatives depend on what you prioritize. Simply Safe Dividends ($199/year) offers dividend safety scores with published accuracy data—better if you want quantified risk metrics. Morningstar Investor ($249/year) provides the full research platform with screeners and tools—better for DIY investors. Sure Dividend Newsletter ($199/year) offers model portfolios focused on dividend growth strategies.
Morningstar DividendInvestor vs. Simply Safe Dividends?
The key difference is approach. Morningstar DividendInvestor uses economic moat analysis to identify quality dividend stocks, providing a curated best-ideas portfolio. Simply Safe Dividends focuses specifically on dividend safety scores and predicting cuts, publishing historical accuracy data. Choose DividendInvestor if you value Morningstar’s broader research methodology; choose Simply Safe Dividends if your primary concern is avoiding dividend cuts and you want transparent accuracy metrics.
How do I cancel Morningstar DividendInvestor?
For print subscriptions, call Morningstar customer service at 1-866-608-9570, Monday through Friday, 8AM–5PM CST. The website doesn’t explicitly state refund policies, so confirm cancellation and refund terms when you subscribe. Digital subscription cancellation procedures should be available through your Morningstar account or by contacting customer service.
Does Morningstar DividendInvestor publish performance data?
No, Morningstar does not publish transparent performance data for the Dividend Select portfolio on their public website. The portfolio is real money and actively managed, but specific returns are not disclosed. This is a meaningful limitation compared to services like Motley Fool Stock Advisor or Simply Safe Dividends, which publish historical performance metrics.
What’s the difference between Morningstar DividendInvestor and Morningstar Investor?
Morningstar DividendInvestor (~$170/year) is a monthly newsletter focused specifically on dividend stocks with economic moats. You get curated picks and analysis. Morningstar Investor ($249/year) is a comprehensive research platform with stock screeners, portfolio tools, and access to Morningstar’s full research database. Choose DividendInvestor if you want picks; choose Morningstar Investor if you want tools for your own research.