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Is ProShares S&P 500 Dividend Aristocrats ETF (NOBL) a Strong ETF Right Now?
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A smart beta exchange traded fund, the ProShares S&P 500 Dividend Aristocrats ETF (NOBL - Free Report) debuted on 10/09/2013, and offers broad exposure to the Style Box - Large Cap Value category of the market.
What Are Smart Beta ETFs?
Market cap weighted indexes were created to reflect the market, or a specific segment of the market, and the ETF industry has traditionally been dominated by products based on this strategy.
Market cap weighted indexes offer a low-cost, convenient, and transparent way of replicating market returns, and are a good option for investors who believe in market efficiency.
However, some investors believe in the possibility of beating the market through exceptional stock selection, and choose a different type of fund that tracks non-cap weighted strategies: smart beta.
Based on specific fundamental characteristics, or a combination of such, these indexes attempt to pick stocks that have a better chance of risk-return performance.
The smart beta space gives investors many different choices, from equal-weighting, one of the simplest strategies, to more complicated ones like fundamental and volatility/momentum based weighting. However, not all of these methodologies have been able to deliver remarkable returns.
Fund Sponsor & Index
The fund is sponsored by Proshares. It has amassed assets over $11.08 billion, making it one of the larger ETFs in the Style Box - Large Cap Value. Before fees and expenses, this particular fund seeks to match the performance of the S&P 500 DividendAristocrats Index.
The S&P 500 Dividend Aristocrats Index targets companies that are currently members of the S&P 500, have increased dividend payments each year for at least 25 years & meet certain market capitalization & liquidity requirements.
Cost & Other Expenses
Since cheaper funds tend to produce better results than more expensive funds, assuming all other factors remain equal, it is important for investors to pay attention to an ETF's expense ratio.
Operating expenses on an annual basis are 0.35% for this ETF, which makes it on par with most peer products in the space.
The fund has a 12-month trailing dividend yield of 2.14%.
Sector Exposure and Top Holdings
ETFs offer diversified exposure and thus minimize single stock risk, but it is still important to delve into a fund's holdings before investing. Most ETFs are very transparent products and many disclose their holdings on a daily basis.
Representing 22.8% of the portfolio, the fund has heaviest allocation to the Consumer Staples sector; Industrials and Financials round out the top three.
Taking into account individual holdings, Factset Research Systems Inc (FDS) accounts for about 1.76% of the fund's total assets, followed by Roper Technologies Inc (ROP) and Becton Dickinson And Co (BDX).
The top 10 holdings account for about 15.11% of total assets under management.
Performance and Risk
So far this year, NOBL has added about 6.74%, and it's up approximately 9.78% in the last one year (as of 09/25/2026). During this past 52-week period, the fund has traded between $50.40 and $59.07.
NOBL has a beta of 0.75 and standard deviation of 12.63% for the trailing three-year period, which makes the fund a medium risk choice in the space. With about 70 holdings, it effectively diversifies company-specific risk .
Alternatives
ProShares S&P 500 Dividend Aristocrats ETF is a reasonable option for investors seeking to outperform the Style Box - Large Cap Value segment of the market. However, there are other ETFs in the space which investors could consider.
iShares Core Dividend Growth ETF (DGRO) tracks Morningstar US Dividend Growth Index and the Vanguard Dividend Appreciation Index Fund ETF Shares (VIG) tracks NASDAQ US Dividend Achievers Select Index. iShares Core Dividend Growth ETF has $42.24 billion in assets, Vanguard Dividend Appreciation Index Fund ETF Shares has $110.02 billion. DGRO has an expense ratio of 0.08% and VIG changes 0.04%.
Investors looking for cheaper and lower-risk options should consider traditional market cap weighted ETFs that aim to match the returns of the Style Box - Large Cap Value
Bottom Line
To learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center.
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Is ProShares S&P 500 Dividend Aristocrats ETF (NOBL) a Strong ETF Right Now?
A smart beta exchange traded fund, the ProShares S&P 500 Dividend Aristocrats ETF (NOBL - Free Report) debuted on 10/09/2013, and offers broad exposure to the Style Box - Large Cap Value category of the market.
What Are Smart Beta ETFs?
Market cap weighted indexes were created to reflect the market, or a specific segment of the market, and the ETF industry has traditionally been dominated by products based on this strategy.
Market cap weighted indexes offer a low-cost, convenient, and transparent way of replicating market returns, and are a good option for investors who believe in market efficiency.
However, some investors believe in the possibility of beating the market through exceptional stock selection, and choose a different type of fund that tracks non-cap weighted strategies: smart beta.
Based on specific fundamental characteristics, or a combination of such, these indexes attempt to pick stocks that have a better chance of risk-return performance.
The smart beta space gives investors many different choices, from equal-weighting, one of the simplest strategies, to more complicated ones like fundamental and volatility/momentum based weighting. However, not all of these methodologies have been able to deliver remarkable returns.
Fund Sponsor & Index
The fund is sponsored by Proshares. It has amassed assets over $11.08 billion, making it one of the larger ETFs in the Style Box - Large Cap Value. Before fees and expenses, this particular fund seeks to match the performance of the S&P 500 DividendAristocrats Index.
The S&P 500 Dividend Aristocrats Index targets companies that are currently members of the S&P 500, have increased dividend payments each year for at least 25 years & meet certain market capitalization & liquidity requirements.
Cost & Other Expenses
Since cheaper funds tend to produce better results than more expensive funds, assuming all other factors remain equal, it is important for investors to pay attention to an ETF's expense ratio.
Operating expenses on an annual basis are 0.35% for this ETF, which makes it on par with most peer products in the space.
The fund has a 12-month trailing dividend yield of 2.14%.
Sector Exposure and Top Holdings
ETFs offer diversified exposure and thus minimize single stock risk, but it is still important to delve into a fund's holdings before investing. Most ETFs are very transparent products and many disclose their holdings on a daily basis.
Representing 22.8% of the portfolio, the fund has heaviest allocation to the Consumer Staples sector; Industrials and Financials round out the top three.
Taking into account individual holdings, Factset Research Systems Inc (FDS) accounts for about 1.76% of the fund's total assets, followed by Roper Technologies Inc (ROP) and Becton Dickinson And Co (BDX).
The top 10 holdings account for about 15.11% of total assets under management.
Performance and Risk
So far this year, NOBL has added about 6.74%, and it's up approximately 9.78% in the last one year (as of 09/25/2026). During this past 52-week period, the fund has traded between $50.40 and $59.07.
NOBL has a beta of 0.75 and standard deviation of 12.63% for the trailing three-year period, which makes the fund a medium risk choice in the space. With about 70 holdings, it effectively diversifies company-specific risk .
Alternatives
ProShares S&P 500 Dividend Aristocrats ETF is a reasonable option for investors seeking to outperform the Style Box - Large Cap Value segment of the market. However, there are other ETFs in the space which investors could consider.
iShares Core Dividend Growth ETF (DGRO) tracks Morningstar US Dividend Growth Index and the Vanguard Dividend Appreciation Index Fund ETF Shares (VIG) tracks NASDAQ US Dividend Achievers Select Index. iShares Core Dividend Growth ETF has $42.24 billion in assets, Vanguard Dividend Appreciation Index Fund ETF Shares has $110.02 billion. DGRO has an expense ratio of 0.08% and VIG changes 0.04%.
Investors looking for cheaper and lower-risk options should consider traditional market cap weighted ETFs that aim to match the returns of the Style Box - Large Cap Value
Bottom Line
To learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center.