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ETF Comparison

NOBL vs VOO: Which Is the Better Pick in 2026?

A head-to-head comparison of ProShares S&P 500 Dividend Aristocrats ETF and Vanguard S&P 500 ETF covering yield, cost, risk, and income potential.

Data updated August 13, 2026

Best for

  • NOBLInvestors who want higher current income (2.08% vs 1.11% for VOO).
  • VOOInvestors who want simple, diversified core exposure in one low-cost fund.

Jump to the side-by-side numbers

Side-by-side snapshot

Side-by-side snapshot. Each row is one metric; each column is one fund.
MetricNOBLVOO
Full nameProShares S&P 500 Dividend Aristocrats ETFVanguard S&P 500 ETF
IssuerProSharesVanguard
Last Close$58.31 as of August 13, 2026$710.17 as of August 13, 2026
Distribution yield2.08%1.11%
Distribution Safety Score™ 96100
Expense ratio0.35%0.03%
AUM$11.9B$1032B
Distribution frequencyQuarterlyQuarterly
Underlying indexS&P 500 Dividend Aristocrats IndexS&P 500 Index
ObjectiveSeeks 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.Track the performance of the S&P 500 Index, representing 500 of the largest U.S. companies.
Asset classEquityEquity
Inception date10/09/201309/07/2010
Beta0.591.0
Last dividend$0.3037$1.9622
Ex-dividend date06/24/202606/26/2026

Bottom lineChoose NOBL if you want higher current income (2.08% vs 1.11% for VOO). Choose VOO if you want simple, diversified core exposure in one low-cost fund.

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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$128B

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.

See all ProShares ETFs
Vanguard
ETFs116
Total AUM$4657B

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

Vanguard is one of the largest and most established ETF issuers, known for low-cost, broadly diversified fund offerings built on passive indexing principles. Their lineup spans multiple asset classes and strategies, including core equity and bond index funds, dividend-focused portfolios, ESG-screened options, factor-based strategies, sector exposure, target-date retirement funds, and international investments across developed and emerging markets. The platform is characterized by its emphasis on accessibility and cost efficiency across a comprehensive range of fund families, serving both individual investors seeking broad market exposure and those pursuing specific income, sustainability, or thematic objectives.

See our curated list of related YouTube videos on VOO.

See all Vanguard ETFs

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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 VOO over the trailing twelve months, posting a 15.58% total return against 22.93%. The lead holds up over 10 years too: VOO has compounded at 15.36% a year, against 9.96% for NOBL. 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.
SymbolYTD1Y3Y5Y10YSince Oct 2013Volatility Sharpe Sortino Max drawdown
NOBL12.81%15.58%9.35%6.54%9.96%10.78%12.9%0.350.50-15.4%
VOO13.72%22.93%21.55%13.31%15.36%14.54%15.0%1.011.46-18.7%

Total return with all distributions reinvested on the ex-dividend date, split-adjusted, as of August 12, 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.

Quick verdict

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

NOBL offers the higher yield at 2.08% vs 1.11% for VOO. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.

VOO is cheaper with an expense ratio of 0.03% compared to 0.35%.

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

VOO is the larger fund by assets ($1032B), which generally means tighter spreads and better liquidity.

Who should choose each?

Choose NOBL

ProShares S&P 500 Dividend Aristocrats ETF

  • Want higher current income — NOBL yields 2.08% vs 1.11% for VOO.
  • Want a quality-dividend tilt — screened payers rather than the broad index.
  • Prefer lower volatility — a beta of 0.6 vs 1.0 for VOO.

Choose VOO

Vanguard S&P 500 ETF

  • Want simple, diversified core exposure as a portfolio building block.
  • Want to keep costs low — a 0.03% expense ratio vs 0.35% for NOBL.

Not sure? Use the income calculator and snapshot above to weigh these trade-offs against your own goals.

Deep dive

Yield & income

On a $10,000 investment, NOBL would generate roughly $17.33/month, while VOO would produce $9.25/month, at current distribution rates. Both pay quarterly distributions.

NOBL yield2.08%
VOO yield1.11%
Monthly diff on $10K$8.08

Cost & efficiency

Over 10 years on $10,000, NOBL would cost approximately $350 in fees vs $30 for VOO (simplified, not compounded). The $320.00 difference may be offset by yield or performance.

NOBL ER0.35%
VOO ER0.03%

Strategy & risk

NOBL tracks S&P 500 Dividend Aristocrats Index, while VOO tracks S&P 500 Index with a large cap approach. Beta is 0.59 for NOBL and 1.0 for VOO, indicating NOBL is less volatile relative to the market.

NOBL beta0.59
VOO beta1.0

Fund details

NOBL is managed by ProShares (launched 10/09/2013) with $11.9B in assets. VOO is managed by Vanguard (launched 09/07/2010) with $1032B in assets.

NOBL AUM$11.9B
VOO AUM$1032B
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Frequently asked questions

What is the current distribution yield for NOBL and VOO?

NOBL currently distributes 2.08% and VOO 1.11%, 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 VOO better for dividend income?

It depends on your goals. NOBL 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.

What is the difference between NOBL and VOO?

NOBL (ProShares S&P 500 Dividend Aristocrats ETF) tracks S&P 500 Dividend Aristocrats Index, while VOO (Vanguard S&P 500 ETF) tracks S&P 500 Index with a large cap approach. They are issued by ProShares and Vanguard respectively.

Can I hold both NOBL and VOO?

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 VOO safer?

By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — VOO scores 100, NOBL scores 96, so VOO's payout currently looks the more resilient of the two. NOBL has also shown lower price volatility (beta 0.59 vs 1.00 for VOO). No score makes an investment risk-free — treat this as a screening signal, not a guarantee.

Which has lower fees, NOBL or VOO?

NOBL has an expense ratio of 0.35% while VOO charges 0.03%. Lower fees mean more of your investment returns stay in your pocket over time.

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

At current rates, $10,000 in NOBL would generate roughly $17.33 per month ($208.00 annually). The same in VOO would produce about $9.25 per month ($111.00 annually).

Which has performed better historically, NOBL or VOO?

NOBL has lagged VOO over the trailing twelve months, posting a 15.58% total return against 22.93%. The lead holds up over 10 years too: VOO has compounded at 15.36% a year, against 9.96% for NOBL. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.

More comparisons to explore

NOBL vs VOO — at a glance

Generated August 8, 2026.

Overview

NOBL and VOO both track the S&P 500, but NOBL screens for dividend payers with at least 25 years of consecutive annual dividend increases, while VOO holds all 500 companies with no dividend filter. The key distinction is that NOBL tilts toward stable, mature dividend-growth stocks, making it narrower in scope and higher in yield; VOO offers pure broad-market exposure with lower costs.

How they differ

The biggest difference is screening: NOBL requires 25 consecutive years of dividend growth, excluding most of the index, while VOO holds the full 500. That screens down to roughly 65 aristocrat names in NOBL versus 500 in VOO. NOBL's yield is 2.08% versus VOO's 1.10%, a 98-basis-point spread reflecting the dividend-aristocrat tilt. The cost gap is stark—NOBL charges 0.35% annually while VOO costs 0.03%, a gap that compounds over decades. NOBL's beta is 0.6 versus VOO's 1.0, meaning NOBL has historically moved less than the broad market in both directions. VOO's AUM is $1032B, dwarfing NOBL's $11.9B.

Who each is best for

NOBL: Fits investors seeking dividend income from proven, long-term payers and comfortable accepting lower market volatility and tighter diversification in exchange for higher yield and a smaller fund.

VOO: Designed for investors who want pure S&P 500 market exposure with maximum diversification, lowest costs, and full market-level returns—trading higher yield for simplicity and scale.

Key risks to know

  • Dividend-cut exposure in NOBL. Requiring 25 consecutive years of increases doesn't prevent dividend cuts; a downturn could force aristocrats to freeze or reduce payouts, eroding the yield advantage.
  • Concentration in mature sectors. NOBL's screening skews toward consumer staples, utilities, and industrials while excluding high-growth tech and communications names that dominate the broader S&P 500. The holdings may overlap substantially with VOO's highest-weight positions, concentrating your S&P 500 exposure rather than diversifying it.
  • Widening yield gap sustainability. NOBL's 98-basis-point yield premium depends on continued buybacks and organic growth in a slower-growth cohort; if dividend growth stalls across the aristocrat universe, the appeal narrows while the 0.35% fee remains.
  • Beta-dampening risk. NOBL's 0.6 beta means it underperforms in strong bull markets. In periods of equity-market outperformance, VOO's full market exposure will likely deliver stronger absolute returns.

Bottom line

If income from proven dividend growers and lower volatility matter most, NOBL's narrower universe and higher yield appeal—though the 0.32% annual cost gap adds up significantly over time. If you want broad S&P 500 exposure with minimal drag, VOO's $1032B in assets and 0.03% expense ratio make the lower yield irrelevant alongside its structural advantages. Neither is objectively better; the choice hinges on whether you prioritize dividend reliability and income over breadth and cost efficiency. Past performance does not guarantee future results.

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

Learn the method

The metrics behind this comparison, explained in the Academy.

How to read a fund's stats How expense ratios eat returns Correlation between two funds

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