High yield and dividend capture strategies are appealing because real yields and interest rates on CDs and investment grade bonds are quite low - offering little gain after you factor in inflation.

The Dogs of the Dow strategy buys the 10 highest dividend yielding stocks of the 30 Dow Jones Industrials companies and invests and equal dollar amount across them at the start of each year.  It assumes a one-year holding period and it is rebalanced annually.

The Blown Out Stock Sector strategy buys stocks in industry groups of the S&P 500 that have under-performed the index. You choose the worst 3 or 4 sectors over the past 5 to 10 years and hold positions for one year.  Rinse and repeat at the end of each year.

Both the Dogs of the Dow and the Blown Out Stock Sector strategies have beaten the S&P 500 from 1998 to 2016 , but both do not beat the MidCap Value index  on a reward-to-risk basis.  The Blown Out Sector strategy does beat the broad market index (VTI) on a reward-to-risk basis, however.

High yield funds are dangerous because they use incredible amounts of leverage.  That is, they borrow money on top of borrowed money to purchase income generating investments like real estate.  Leveraged REITs are a typical medium.  High leverage leads to huge drawdowns during recessions, when real estate prices nose-dive and/or tenants can't afford to pay their rent or mortgages.  

Dividend capture or dividend surfing doesn't work because the amount of the dividend is offset by an equal drop in the price of the stock or ETFs when it goes ex-dividend.  The video shows examples of this.  There is no advantage gained by this strategy.

Dividend investors should always check the dividend payment history of the stock or ETF.  To do this, visit Morningstar.com or Dividend.com. First, determine the frequency of dividend payments. Next check to see what the dividend payments are comprised of: are they organically generated (from profits, capital gains etc.), or is it a return of investor capital?  The latter is not suitable for long-term passive investors.