When used as a verb, yield means "to give up." Even when yield is used as a noun, it can often involve giving something up. Many high-yield dividend stocks come with significant trade-offs that make them less attractive to investors.

That's not always the case, though. Here are four fantastic dividend stocks with yields of 4% or more.

1. Devon Energy

Devon Energy (DVN -0.20%) offers a unique dividend consisting of two parts: a fixed component and a variable component. Combined, these components give the oil and gas producer a dividend yield that tops 7.3%.

Even better, Devon stock has been a huge winner so far this year. Shares have skyrocketed more than 60% and could go even higher.

Granted, Devon's dividend is headed lower. The company generated less free cash flow in Q3 of 2022 than in Q2, meaning less money is available to fund the variable component of the dividend. However, Devon should continue to be a great pick for income investors and, potentially, growth investors alike.

2. Digital Realty Trust

Unlike Devon, Digital Realty Trust (DLR -0.39%) stock has floundered in 2022. Shares are down nearly 40% due to headwinds, including higher interest rates, economic uncertainty, and the strong U.S. dollar.

But the data center REIT should have better days ahead. The long-term demand for data centers should continue to grow, and Digital Realty Trust has an impressive portfolio of data centers and a solid development pipeline. It also offers an especially attractive dividend. The dividend yield stands at nearly 4.4%, and Digital Realty Trust has increased its dividend for 17 consecutive years.

3. Enterprise Products Partners

Enterprise Products Partners (EPD 0.36%) has benefited from the same strong demand for oil and gas as Devon has. The midstream energy company's revenue doesn't hinge on fuel prices, though.

One result is that Enterprise's share price hasn't jumped as much as oil and gas producers' shares have this year. Still, the stock is handily beating the overall market and could continue to do so into 2023.

Enterprise's total return will be boosted significantly by its dividend yield of over 7.6%. Investors should be able to count on higher dividends in the future, too. The company has increased its dividend for 24 consecutive years and seems likely to keep that streak going.

4. Innovative Industrial Properties

Innovative Industrial Properties (IIPR -0.37%) (IIP) ranks as the biggest loser in 2022 so far on our list. Shares of the cannabis REIT have plunged almost 60% year to date. This steep decline is due to the challenges many U.S. cannabis operators face with a supply-demand imbalance.

However, IIP's business remains strong. The company's Q3 results beat expectations. Its revenue soared 32% year over year, while earnings per share jumped 10%. Another important financial metric for REITs, adjusted funds from operations (FFO), increased by 25% year over year.

The headwinds for the U.S. cannabis industry should resolve over time. Meanwhile, IIP offers a great dividend yield of more than 6.3%. The company has also increased its dividend by a whopping 12x since 2017.