If you only own stocks that pay dividends, 2015 was not the year for you. At the start of the year, 74 stocks in the S&P 500 had no dividend payout. These 74 stocks are up an average of nearly 4% in 2015. The remaining stocks in the S&P 500 that did have a dividend payout at the start of the year are down an average of 5.15% YTD. Below we have broken the S&P into deciles (10% of stocks) based on dividend yield at the start of the year. The last group of stocks all the way to the right of the chart contains all names that had no dividend yield. This is the only group of stocks that averaged a gain in 2015. As shown on the left side of the chart, the top 10% of stocks with the highest dividend yields at the start of the year are down a whopping 14.6% year-to-date!