The Schwab International Dividend Equity ETF (SCHY) is highlighted as a compelling option for dividend investors due to its attractive yield and lower valuation compared to U.S. markets. Concerns about a bubble in U.S. stocks, indicated by Warren Buffett's recent stock sales and a high Shiller P/E ratio, suggest a cautious approach to U.S. investments. International equities, like those in SCHY, offer lower valuations and growth potential, making them a viable alternative.