Water-dispersible adducted rosin esters, a process for making them, and their use in aqueous tackifier dispersions for pressure-sensitive adhesives are disclosed. Reaction of a rosin with a polyol gives a rosin ester intermediate, which is then reacted with a dienophile to produce an adducted rosin ester. The adducted rosin ester is further esterified with a polyethylene glycol having an Mw<700 to produce the water-dispersible adducted rosin ester. Esterification with the low-molecular-weight PEG imparts good water dispersibility to the adducted rosin ester while maintaining compatibility with other tackifier components. Combination of the aqueous tackifier dispersions with polymer emulsions, particularly acrylics, gives pressure-sensitive adhesives that deliver good loop tack and peel properties compared with commercial alternatives, even when the coat weight is reduced by 20%.