These two stock exchanges make up nearly all the U.S. Stock market. Stocks with higher yields have not participated in this year's S&P 500 rally. I took the current holdings in the S&P 500, and divided them according to what I call "Dividend Tiers." This is precisely what is being lost on some investors right now in the current Nasdaq-infused S&P 500 mania. YCharts 2017Note that there are many reasons a stock's yield lands it in one of these categories.

Source: Forbes August 15, 2017 16:07 UTC