The relative strengh index (RSI) of a stock price gives a good indication of overbought and overbought conditions. We computed the RSI of all dividend ETFs and then ordered the by short and long timeframes. Short timeframes are measured in days, long timeframes are measured in months.
Here they are ordered from most oversold to overbought.
There are no oversold ETFs in the short timefranme. The "cheapest" in this sense is DOO, the Wisdomtree International Fund, which tracks and index that measures the performance of high dividend-yielding international stocks outside the financial sector.
The worst are VIG and DON, Vanguard Appreciation dividend ETF, and WisdomTree midcap dividend ETF.
Again in the longer timeframe, there are no oversold ETFs, with the best value represented by DXJ, Wisdomtree's Japan's dividend ETF. The worst (most overbought) are DON, DTN and the Canadian CDZ, Claymore TSX dividend ETF. It's buyer beware with these.
This is the average of all three timeframe indicators, daily, weekly, and monthly.