Abstract: Aqueous dispersions containing hydrophobic materials that are useful as reduced volatile organic content may be utilized as a coating, a stain, a resin, a polymer, or an additive. Specifically, the aqueous dispersion may contain one or more of a carboxyalkyl cellulose ester, such as carboxymethyl cellulose acetate butyrate, a fluorosurfactant, such as a polyoxetane fluorosurfactant or a fluoroaliphatic polymeric ester based surfactant, a water dispersible resin, and optionally, a C-11 ketone and/or surfactant.