Contrary to popular belief that dividend stocks underperform during periods of rising yields, RBC Capital Markets on Monday debunked those assumptions, advising investors to stick with dividend payers.

"While many would expect high dividend strategies to lag in such an environment, the opposite has been the case. In fact, history shows that low-volatility names — not high yielders — are actually the big underperformer as rates rise," RBC's chief equity strategist, Jonathan Golub, wrote in a research note.

Analysis by Golub shows that since the U.S. presidential election, dividend payers are up 2 percent compared with a negative return of 10 percent for low-volatility names.