An aqueous dispersion of multi-stage polymeric particles comprising a polymer and an oligomer, wherein the polymer comprises, (a1) structural units of a functional monomer mixture, comprising, (i) 0.5% by weight or more of structural units of an α, β-ethylenically unsaturated carboxylic acid, (ii) structural units of methyl acrylamide and/or sodium styrene sulfonate, and optionally (iii) structural units of acrylamide; wherein the total amount of (i), (ii), and (iii) is 2% by weight or more; (a2) structural units of an alkyl ester of (meth)acrylic acid; and optionally, (a3) structural units of a vinyl aromatic monomer; wherein the oligomer has a weight average molecular weight of from 1,000 to 60,000 g/mol and comprises: (b1) 0.1% by weight or more of structural units of an alkoxylated (meth)acrylate having the structure of formula (I), wherein R 1 is H or CH 3 , R 2 is H or a C 1 -C 6 alkyl group, R 3 and R 4 are each independently H or CH 3 , m is an integer of from 8 to 50, and n is an integer of from 0 to 6; and optionally (b2) structural units of a vinyl aromatic monomer; wherein the structural units of the vinyl aromatic monomer in the multi-stage polymeric particles are present in a combined amount of 5% by weight or more; and wherein the multi-stage polymeric particles comprise from 1% to 30% by weight of the oligomer; with percent by weight values relative to the weight of the multi-stage polymeric particles. wherein the polymer comprises, (a1) structural units of a functional monomer mixture, comprising, (i) 0.5% by weight or more of structural units of an α, β-ethylenically unsaturated carboxylic acid, (ii) structural units of methyl acrylamide and/or sodium styrene sulfonate, and optionally (iii) structural units of acrylamide; (i) 0.5% by weight or more of structural units of an α, β-ethylenically unsaturated carboxylic acid, (ii) structural units of methyl acrylamide and/or sodium styrene sulfonate, and optionally (iii) structural units of acrylamide; wherein the total amount of (i), (ii), and (iii) is 2% by weight or more; (a2) structural units of an alkyl ester of (meth)acrylic acid; and optionally, (a3) structural units of a vinyl aromatic monomer; (a2) structural units of an alkyl ester of (meth)acrylic acid; and optionally, (a3) structural units of a vinyl aromatic monomer; wherein the oligomer has a weight average molecular weight of from 1,000 to 60,000 g/mol and comprises: (b1) 0.1% by weight or more of structural units of an alkoxylated (meth)acrylate having the structure of formula (I), wherein R 1 is H or CH 3 , R 2 is H or a C 1 -C 6 alkyl group, R 3 and R 4 are each independently H or CH 3 , m is an integer of from 8 to 50, and n is an integer of from 0 to 6; and optionally (b2) structural units of a vinyl aromatic monomer; (b1) 0.1% by weight or more of structural units of an alkoxylated (meth)acrylate having the structure of formula (I), wherein R 1 is H or CH 3 , R 2 is H or a C 1 -C 6 alkyl group, R 3 and R 4 are each independently H or CH 3 , m is an integer of from 8 to 50, and n is an integer of from 0 to 6; and optionally (b2) structural units of a vinyl aromatic monomer; wherein the structural units of the vinyl aromatic monomer in the multi-stage polymeric particles are present in a combined amount of 5% by weight or more; and wherein the multi-stage polymeric particles comprise from 1% to 30% by weight of the oligomer; with percent by weight values relative to the weight of the multi-stage polymeric particles. <EOS>