A water-dispersed film-forming vehicle suitable for lacquers is disclosed. The vehicle consists of an aqueous dispersion of an air-drying, low acid-number alkyd resin dispersed by the use of a nonionic surfactant consisting of an adduct of ethylene oxide units onto a phenolic compound substituted by a hydrophobic aliphatic radical containing olefinic double bonds, preferably, containing 12 to 18 carbon atoms and 1 to 5 double bonds. The adduct includes 5 to 40 ethylene oxide units per mol. The water-based dispersion diluent in which the alkyd resin is dispersed may include pigments, siccatives for the alkyd drying resin and optionally processing aid solvents.