NOBL ETF — Holdings & Analysis

For informational purposes only. Not financial advice.

Quick Answer

The ProShares S&P 500 Dividend Aristocrats ETF (NOBL) offers exposure to companies within the S&P 500 that have consistently increased their dividend payouts for at least 25 consecutive years.

With an AUM of $11.21 billion and an expense ratio of 0.35%, NOBL provides a focused approach to dividend growth investing. The fund's strategy aims to deliver stable returns through investments in established, financially sound companies, making it a potentially attractive option for investors seeking dividend income and long-term capital appreciation. Past performance does not guarantee future results.

ProShares - S&P 500 Dividend Aristocrats ETF (NOBL) ETF — Price, Holdings & Analysis

The ProShares S&P 500 Dividend Aristocrats ETF (NOBL) offers exposure to companies within the S&P 500 that have consistently increased their dividend payouts for at least 25 consecutive years. With an AUM of $11.21 billion and an expense ratio of 0.35%, NOBL provides a focused approach to dividend growth investing. The fund's strategy aims to deliver stable returns through investments in established, financially sound companies, making it a potentially attractive option for investors seeking dividend income and long-term capital appreciation. Past performance does not guarantee future results.

ETF Overview

The fund will invest at least 80% of its total assets in component securities of the index. The index contains a minimum of 40 stocks, which are equally weighted, and no single sector is allowed to comprise more than 30% of the index weight. It seeks to remain fully invested at all times in securities and/or financial instruments that, in combination, provide exposure to the returns of the index without regard to market conditions, trends or direction.

NOBL aims to replicate the performance of the S&P 500 Dividend Aristocrats Index by investing at least 80% of its assets in the index's component securities. This index comprises a minimum of 40 stocks from the S&P 500 that have increased their dividend payments annually for at least 25 years. The fund equally weights its holdings, and no single sector can exceed 30% of the index weight, promoting diversification. As of 2026-03-15, NOBL's top holdings include Sysco Corp (1.65%), Colgate-Palmolive Co (1.62%), and PepsiCo Inc (1.61%). Sector allocation is heavily weighted towards Consumer Defensive (24.7%), Industrials (20.2%), and Financial Services (12.0%). NOBL is designed for investors seeking exposure to stable, dividend-growing companies with a history of consistent performance. Past performance does not guarantee future results.

Risk Metrics

NOBL's risk profile is influenced by its concentrated investment in dividend aristocrats. While the fund's diversification rules limit sector concentration, the top 10 holdings account for approximately 16% of the portfolio, creating some concentration risk. The fund's beta of 0.76 indicates lower volatility compared to the broader market. The expense ratio of 0.35% can create a slight drag on performance over time, although it is relatively competitive within the dividend ETF category. Investors should also consider the potential for underperformance during periods when high-growth stocks outperform established dividend payers. Past performance does not guarantee future results.

Expense Ratio

0.35%

What does NOBL hold?

Holding	Weight
Sysco Corp (SYY)	1.65%
Colgate-Palmolive Co (CL)	1.62%
PepsiCo Inc (PEP)	1.61%
Linde PLC (LIN)	1.61%
Caterpillar Inc (CAT)	1.60%
Clorox Co (CLX)	1.60%
Procter & Gamble Co (PG)	1.59%
Church & Dwight Co Inc (CHD)	1.59%
Amcor PLC Ordinary Shares (AMCR)	1.59%
Exxon Mobil Corp (XOM)	1.58%

How Is the Fund Allocated?

Sector	Weight
Consumer Defensive	24.7%
Industrials	20.2%
Financial Services	12.0%
Basic Materials	10.3%
Healthcare	10.2%
Utilities	6.1%
Consumer Cyclical	5.7%
Real Estate	4.4%
Technology	3.5%
Energy	3.1%

Country	Weight
United States	92.6%
Switzerland	3.0%
United Kingdom	2.8%
Ireland	1.3%
Other	0.2%

Dividend Yield

1.94%

iShares Russell 2000 ETF (IWM) — 0.19% expense ratio
ARK Innovation ETF (ARKK) — 0.75% expense ratio
State Street Technology Select Sector SPDR ETF (XLK) — 0.08% expense ratio
Invesco QQQ Trust, Series 1 (QQQ) — 0.18% expense ratio
iShares MSCI Emerging Markets ETF (EEM) — 0.72% expense ratio
iShares MSCI EAFE ETF (EFA) — 0.32% expense ratio
State Street Energy Select Sector SPDR ETF (XLE) — 0.08% expense ratio
State Street SPDR S&P 500 ETF (SPY) — 0.09% expense ratio

ProShares - Russell U.S. Dividend Growers ETF (TMDV) (Equity) — 0.35% expense ratio
ProShares - Ultra Health Care (RXL) (Equity) — 1.07% expense ratio
ProShares - Online Retail ETF (ONLN) (Equity) — 0.58% expense ratio
ProShares - UltraShort Yen (YCS) (Alternatives) — 0.95% expense ratio
ProShares - DJ Brookfield Global Infrastructure ETF (TOLZ) (Equity) — 0.46% expense ratio
ProShares - Ultra Nasdaq Cloud Computing (SKYU) (Equity) — 5.04% expense ratio

Risk Metrics

Beta: 0.76

Questions & Answers

What is NOBL and what does it track?

NOBL, the ProShares S&P 500 Dividend Aristocrats ETF, seeks to replicate the performance of the S&P 500 Dividend Aristocrats Index. This index includes companies within the S&P 500 that have increased their dividend payouts for at least 25 consecutive years.

What is the expense ratio for NOBL?

The expense ratio for NOBL is 0.35%. This means that for every $10,000 invested in the fund, investors will pay $35 in annual fees to cover the fund's operating expenses.

While this is not the lowest expense ratio available in the equity ETF category, it is relatively competitive compared to other dividend-focused ETFs. The category average expense ratio is approximately 0.44%.

What are the top holdings in NOBL?

As of 2026-03-15, the top holdings in NOBL are Sysco Corp (SYY) at 1.65%, Colgate-Palmolive Co (CL) at 1.62%, and PepsiCo Inc (PEP) at 1.61%. Linde PLC (LIN) and Caterpillar Inc (CAT) follow closely behind at 1.61% and 1.60% respectively.

These companies represent a significant portion of the fund's portfolio and reflect its focus on established, dividend-paying businesses. The fund's equal-weighting strategy ensures that no single holding dominates the portfolio.

Is NOBL a good long-term investment?

NOBL's suitability as a long-term investment depends on an investor's individual goals and risk tolerance. The fund's focus on dividend aristocrats can provide a stable income stream and potential for long-term capital appreciation.

However, the fund's beta of 0.76 indicates that it may not fully participate in market rallies.

How does NOBL compare to similar ETFs?

NOBL competes with other dividend-focused ETFs like SDY and VIG. NOBL's expense ratio of 0.35% is comparable to SDY (0.35%) but higher than VIG (0.06%).

NOBL focuses on companies with at least 25 years of consecutive dividend increases, while SDY requires 20 years and VIG focuses on dividend growth rather than consecutive increases.

Does NOBL pay dividends?

Yes, NOBL pays dividends. As of 2026-03-15, the fund has a dividend yield of 1.94%. This means that investors can expect to receive approximately 1.94% of their investment in annual dividend payments.

The dividend yield can fluctuate based on market conditions and the dividend policies of the underlying companies in the fund's portfolio. Investors seeking income may find NOBL's dividend yield attractive.

Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.

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