Does a "Dog's of the Dow" work in Australasia ?

My contention is that it probably doesn't. Reasons presenting including that the Dow comprises 30 of the biggest companies in the world so the worst performers there still have the market size and grunt to turn themselves around which isn't necessarily the case down under.
Here's how the dog's of the ASX in 2020 performed in 2021. https://www.livewiremarkets.com/wire...7+January+2022

Would you use a Dog's of the ASX or NZX50 as a strategy you'd put real money into ? I wouldn't. One of the reasons is I think some of the worst performers of 2021 face systemic issues that aren't going to be fixed anytime soon e.g. ATM.

They do say from amongst the Dogs select bigger market caps and divie paying stocks.

Mr O’Higgins original Dogs of the Dow was to pick the 5 highest yielding stocks (high yield because low stock prices and where companies are in business cycle and things like that)

I’d hazard a guess on that basis your portfolio is already full of Dogs of the NZX

Generally, only of the best pedigree :)
One or two mutts that haven't barked for a while better perform this year or they'll be evicted from the kennel.

In the ASX 2021 comp Wiz had a dogs of the ASX, which was up 37.5% .

I submitted a Dogs portfolio for the NZX 2022 competition but I can't remember what I picked and am not sure where to see the ongoing results (although I think they have not been made available yet). I would not do that in real life but I notice winner's caveats and rules which in theory would reduce the risk somewhat by avoiding companies that have, as Beagle so politely put it, "systemic issues".

From memory I may have picked HMY, MFB, possibly MEL, one of ATM or SML - I forget.....I'm curious to see how it goes.