The 10-year Treasury yield hitting 5% is having mixed effects on dividend stocks depending on their business models. Mortgage REITs like **AGNC** and **NLY** are taking a hit, with both down over 25% recently. Higher rates squeeze their borrowing costs and make safer Treasuries look better. On the flip side, **Coca-Cola** (KO) is up 30%. They have mostly fixed-rate debt and can raise prices to deal with inflation. MLPs like **Energy Transfer** (ET) and **Enterprise Products Partners** (EPD) are down about 7%. They face higher borrowing costs but are somewhat offset by higher oil and gas prices. Regular REITs are feeling it too. **Realty Income** (O) is down 15% but using private capital partnerships to fund growth. **Vici Properties** (VICI) is down nearly 25%, hurt by weaker credit ratings and tenant issues with Caesars. Chasing high yields right now without looking at rate sensitivity carries a lot of risk.