@DividendenWaschbaer Are you sure about that? This ETF does not only hold US stocks. Other countries have even higher withholding taxes. The ETF tracks the companies with the highest dividends!
@Steel-Team you pay withholding tax, depending on where the ETF is listed. This one is listed in Luxembourg. I don't know whether there is withholding tax there. But due to the creditable withholding tax, you get away a little more favorably than if you simply pay the full 26.375% from Germany.