Ep. 34: REIT Dividend Dynamos, SPHD's Breakout Q1 & the Salary Replacement Math

In this episode, we dig into a massive stack of April 2026 market research covering the paradigm shift in passive investing. Topics covered: - REIT Dividend Quality: The ALPS Active REIT ETF Elite Eight (CUBE, GLPI, VICI, SPG, Realty Income) and why only 28 of 72 REITs maintained dividends over 15+ years - SPHD's Breakout Quarter: 6.5% surge in Q1, outpacing the S&P 500 by its largest margin since March 2021 - Valuation Reset Opportunities: S&P 500 worst quarter since Q3 2022, forward P/E compressed 17% - Salary Replacement Math: How much you actually need at 3%, 4%, and 7-8% yields to replace a $60K paycheck - International ETFs Crushing VOO: EWJ, VGK, VXUS outperforming while US tech concentration becomes a vulnerability - Income ETF Stress Test: NAV erosion analysis of 40 ETFs — who passed, who failed - TROW at a Discount: 40-year dividend streak, 5.77% forward yield vs historical 3.2-3.5% - Verizon Recession Play: 5.63% yield, DCF intrinsic value $62.86 vs $50 price Tickers discussed: SPHD, REIT, CUBE, GLPI, VICI, SPG, O, SCHD, VYM, JEPI, QQQI, EWJ, VGK, VXUS, VOO, EIPI, TYLG, RYLG, TROW, VZ