Morgan Stanley strategist Chelsea Tabe said in a note to clients last week that Europe has become the "land of equity yield." "Europe has tended to offer a higher dividend yield than global peers, but a low or negative net buyback yield meant the region's total yield often lagged," Tabe said. "In 2022 Europe offered investors the highest total yield of any major region, and our analysts' projections suggest this is likely to be repeated in 2023. The biggest of the group is the WisdomTree Europe Hedged Equity Fund (HEDJ) , according to VettaFi, with more than $1 billion in assets. That includes the Europe Quality Dividend Growth Fund (EUDG) and the Europe Small Cap Dividend Fund (DFE) , though both have underperformed HEDJ in 2023.

---

Persons: Morgan Stanley, Chelsea Tabe, Tabe, HEDJ, FDD, — CNBC's Michael Bloom Organizations: U.S, Europe Hedged Equity, Trust Locations: Europe, U.S