A number of years ago, when I first started really looking at dividend funds, they were under the income portion of the listings. This made sense because the object to buying the funds was for the dividend or the yield, as just about all funds are priced daily, you can sell anytime, but the reason for buying is a relatively long term holding with the emphasis on the yield or receiving the dividend. As an added bonus, the share price tends to outperform equity funds as there tends to be less downturn companies in the portfolio for they have a dividend attached to them. The fund industry in its wisdom, because dividend sector was doing very well (one year the funds were up 20%, but that was unusual) decided to change the sector to equity funds. This resulted in financial consultants examining their allocation models and shifted many people from dividend funds to equity funds. The returns were less, the fees more, but the holders were within the guidelines of their allocation charts. This sounds cycnical, it is, but it happened to many for no good reason.

If you look at your charts and see the overallocation towards one sector or another, ask first why did you buy? what results are you expecting and what fees are you paying?
If the dividend fund which you bought for yield, is classified as equity, it is okay. A strict income portfolio does not give you growth, you need both for the long term. The thing you wish to do is try to use the existing system to achieve the best returns at a low risk and for now the existing system favours dividend stocks.

There are always more questions than answers, till the next time – to raising questions