ETF Comparison

NOBL vs SDY: S&P 500 Aristocrats or a Broader List?

A head-to-head of ProShares S&P 500 Dividend Aristocrats and the SPDR S&P Dividend ETF covering how many years of raises each screen requires.

Data updated August 19, 2026

Best for

NOBLInvestors who want a quality-dividend tilt rather than the whole market.
SDYInvestors who want a quality-dividend tilt rather than the whole market.

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Visual comparison

Key metrics

Projected income on $10K

Projections assume the current yield and share price remain constant. Actual results will vary.

Total returns

NOBL has lagged SDY over the trailing twelve months, posting a 15.62% total return against 16.67%. The picture flips over 10 years, though — NOBL has compounded at 10.07% a year, ahead of SDY at 9.55%. Figures are total returns: price change plus every distribution reinvested.

Total return and risk statistics by fund. Each row is one fund; each column is one period or statistic.
Symbol	YTD	1Y	3Y	5Y	10Y	Since Oct 2013	Volatility	Sharpe	Sortino	Max drawdown
NOBL	13.70%	15.62%	10.54%	6.97%	10.07%	10.83%	12.9%	0.43	0.62	-15.4%
SDY	14.96%	16.67%	12.60%	8.00%	9.55%	10.40%	12.2%	0.61	0.88	-14.4%

Total return with all distributions reinvested on the ex-dividend date, split-adjusted, as of August 19, 2026. YTD and 1Y are cumulative; longer windows are annualized. “Since Oct 2013” measures every fund from October 10, 2013 — the youngest fund's first trading day — so all funds share one comparison window. Volatility is the annualized standard deviation of daily total returns over the trailing 3 years. Sharpe and Sortino divide the annualized return in excess of the risk-free rate by, respectively, that volatility and the downside deviation (both over the trailing 3 years) — higher is better. Max drawdown is the largest peak-to-trough total-return decline over the same window — shallower is better.

Side-by-side snapshot

Side-by-side snapshot. Each row is one metric; each column is one fund.
Metric	NOBL	SDY
Full name	ProShares S&P 500 Dividend Aristocrats ETF	SPDR S&P Dividend ETF
Issuer	ProShares	State Street
Last Close	$58.14 as of August 19, 2026	$157.66 as of August 19, 2026
Distribution yield	2.09%	2.46%
Distribution Safety Score™	96	95
Expense ratio	0.35%	0.35%
AUM	$12.0B	$22.2B
Distribution frequency	Quarterly	Quarterly
Underlying index	S&P 500 Dividend Aristocrats Index	S&P High Yield Dividend Aristocrats Index
Objective	Seeks to track the S&P 500 Dividend Aristocrats Index, investing at least 80% of total assets in S&P 500 companies that have raised their dividend every year for at least 25 consecutive years.	Seeks to track the S&P High Yield Dividend Aristocrats Index, holding the highest-yielding S&P Composite 1500 constituents that have raised dividends every year for at least 20 consecutive years.
Asset class	Equity	Equity
Inception date	10/09/2013	11/08/2005
Beta	0.59	0.57
Last dividend	$0.3037	$0.9680
Ex-dividend date	06/24/2026	06/22/2026

Bottom lineNOBL and SDY are both for investors who want a quality-dividend tilt rather than the whole market — so strategy isn't the deciding factor here. Fees and payouts are close too, so it comes down to which your broker offers commission-free and any share-price or tax-lot preference.

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Income calculator

See how much monthly income a hypothetical investment would generate in each ETF at current yields.

ProShares

ETFs169

Total AUM$130B

ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.

ProShares is known for offering leveraged and inverse ETFs that provide amplified exposure to market movements, along with thematic and income-focused strategies. Their fund lineup spans digital assets (including Bitcoin and Ethereum exposure through BITO and EETH), dividend strategies like the Dividend Aristocrats fund (NOBL), covered call income strategies, and leveraged/inverse products that track major indices with 2x or 3x daily multipliers (such as SSO and TQQQ for tech-heavy portfolios). With 23 ETFs across specialized families including leveraged products, money market funds, and sector-specific offerings, ProShares serves investors seeking both traditional income and alternative exposure strategies.

See our curated list of related YouTube videos on NOBL.

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State Street

ETFs180

Total AUM$2169B

ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.

State Street Global Advisors (SSGA) is one of the largest ETF providers globally, known for its flagship SPDR suite of exchange-traded products that serve both institutional and retail investors across a broad range of asset classes. Their 88-fund lineup spans diverse strategies including sector exposure (Select Sector SPDR), income generation (Income and Select Sector SPDR Premium Income families), commodities (including the widely-held GLD gold ETF), bonds, ESG-focused investments, and thematic allocations, with popular tickers like DIA (Diamonds Trust), FEZ (Eurozone exposure), and JNK (high-yield bonds) among their most recognized funds. The issuer is characterized by its comprehensive coverage across multiple market segments and its emphasis on both traditional index-based products and specialized strategies like covered call income funds and factor-based investing.

See our curated list of related YouTube videos on SDY.

See all State Street ETFs

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Quick verdict

NOBL (ProShares S&P 500 Dividend Aristocrats ETF) and SDY (SPDR S&P Dividend ETF) are both quarterly-pay dividend ETFs, but they take different approaches.

SDY offers the higher yield at 2.46% vs 2.09% for NOBL. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.

They track different benchmarks: NOBL is linked to S&P 500 Dividend Aristocrats Index while SDY tracks S&P High Yield Dividend Aristocrats Index, which means their performance drivers differ.

SDY is the larger fund by assets ($22.2B), which generally means tighter spreads and better liquidity.

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Deep dive

Yield & income

On a $10,000 investment, NOBL would generate roughly $17.42/month, while SDY would produce $20.50/month, at current distribution rates. Both pay quarterly distributions.

NOBL yield2.09%

SDY yield2.46%

Monthly diff on $10K$3.08

Cost & efficiency

Over 10 years on $10,000, NOBL would cost approximately $350 in fees vs $350 for SDY (simplified, not compounded). Both charge the same expense ratio.

NOBL ER0.35%

SDY ER0.35%

Strategy & risk

NOBL tracks S&P 500 Dividend Aristocrats Index, while SDY tracks S&P High Yield Dividend Aristocrats Index with a dividend approach. Beta is 0.59 for NOBL and 0.57 for SDY — effectively similar market sensitivity.

NOBL beta0.59

SDY beta0.57

Fund details

NOBL is managed by ProShares (launched 10/09/2013) with $12.0B in assets. SDY is managed by State Street (launched 11/08/2005) with $22.2B in assets.

NOBL AUM$12.0B

SDY AUM$22.2B

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Frequently asked questions

What is the difference between NOBL and SDY?

Both buy companies with long dividend-increase streaks, but the rulebooks differ. NOBL (ProShares S&P 500 Dividend Aristocrats ETF) tracks S&P 500 Dividend Aristocrats Index — S&P 500 members with 25 years of raises. SDY (SPDR S&P Dividend ETF) tracks S&P High Yield Dividend Aristocrats Index, a broader aristocrat list that can include mid caps with a 20-year streak. Cost is 0.35% versus 0.35%; distributions are 2.09% and 2.46% as of August 2026. The decision is how strict and how broad you want the aristocrat screen, not a near-tie yield.

What is the current distribution yield for NOBL and SDY?

NOBL currently distributes 2.09% and SDY 2.46%, based on fund data updated August 2026. Distribution yield moves with both the payout and the share price, so check the as-of date before relying on either figure.

Is NOBL or SDY better for dividend income?

It depends on your goals. SDY currently offers the higher distribution yield, which means more income per dollar invested. However, a lower-yield fund may offer better total return or lower volatility. Consider your time horizon and risk tolerance.

Can I hold both NOBL and SDY?

Yes — nothing prevents holding both. Whether the combination actually diversifies depends on how much the underlying exposures overlap, which isn't fully measurable from the data on this page; review each security's holdings, sector, and strategy before treating them as complementary.

Is NOBL or SDY safer?

By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — they are effectively tied: NOBL scores 96, SDY scores 95. Neither has a clear safety edge on that measure. No score makes an investment risk-free — treat this as a screening signal, not a guarantee.

Which has lower fees, NOBL or SDY?

NOBL and SDY both charge the same expense ratio of 0.35%, so neither is cheaper on fees — pick based on yield, strategy, or underlying index instead.

How much income does $10,000 in NOBL vs SDY generate?

At current rates, $10,000 in NOBL would generate roughly $17.42 per month ($209.00 annually). The same in SDY would produce about $20.50 per month ($246.00 annually).

Which has performed better historically, NOBL or SDY?

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NOBL vs SDY — at a glance

Generated August 15, 2026.

Overview

NOBL and SDY are both dividend-focused ETFs tracking S&P indexes of companies with multi-decade histories of consecutive dividend increases. The key distinction: NOBL follows the S&P 500 Dividend Aristocrats Index (25+ years of increases), while SDY tracks the S&P High Yield Dividend Aristocrats Index (20+ years of increases, weighted toward highest-yielding constituents). This makes SDY a higher-yield, more concentrated play on dividend payers, while NOBL casts a wider net across the S&P 500.

How they differ

SDY yields 36 basis points higher than NOBL (2.44% vs. 2.08%), reflecting its focus on high-yield aristocrats within the broader S&P Composite 1500. NOBL requires a stricter 25-year dividend-increase track record versus SDY's 20-year minimum, making NOBL's universe more exclusive. Both charge identical 0.35% expense ratios and carry nearly equivalent betas (0.59 for NOBL, 0.57 for SDY), suggesting similar market sensitivity. SDY is substantially larger, with $22.0B in AUM versus NOBL's $11.9B, and has been trading longer (since November 2005 versus October 2013).

Who each is best for

NOBL: Fits investors prioritizing strict, long-term dividend-growth consistency and willing to accept lower current yield in exchange for exposure only to the most stringent aristocrat qualifiers. Works well in dividend-growth-focused allocations where reinvesting modest distributions matters over time.

SDY: Fits investors seeking higher current income from dividend aristocrats and comfortable with the broader 20-year increase criterion and yield-weighted construction. Aligns with allocations emphasizing current distribution level alongside growth history.

Key risks to know

Dividend-growth dependence. Both funds rely on companies' ability and willingness to continue raising dividends year-over-year; economic downturns or management changes could disrupt this pattern, potentially leading to index reconstitution and portfolio turnover.

Overlap and concentration risk. The two indexes likely hold many of the same companies. NOBL's stricter 25-year criterion may concentrate exposure among mature, larger-cap firms, reducing diversification relative to broader U.S. equity indexes.

Valuation risk. Dividend aristocrats often trade at premium valuations relative to the broader market, given their reputation and selective inclusion; multiple compression in risk-off environments could pressure both ETFs' share prices.

Yield sustainability in SDY. SDY's higher yield distribution may rely partly on return-of-capital treatment if underlying dividend growth slows; monitor distribution composition in earnings reports.

Bottom line

If you value the most rigorous dividend-growth track record and are comfortable with lower current yield, NOBL's 25-year requirement offers that selectivity. If you prioritize higher income today alongside a proven dividend-increase history, SDY's yield advantage and larger asset base may appeal more. Past performance of dividend growth does not guarantee future dividend increases.

AI-generated analysis for educational purposes only. Verify important details independently; past performance does not guarantee future results.

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