Dividend comparison
NOBL vs DLN: Which Is Better for Income?
Fees, yield, total returns, drawdowns, holdings overlap and dividend history for ProShares - S&P 500 Dividend Aristocrats ETF and WisdomTree U.S. LargeCap Dividend Fund, side by side. Updated October 21, 2026.
NOBL vs DLN: key differences
The short answer, from the latest data on this page.
- Fees. DLN is cheaper at 0.28% a year versus 0.35% for NOBL. On $10,000 that is $7 a year less in fees.
- Income. NOBL pays more income, yielding 2.04% over the last twelve months versus 1.73% for DLN. That is about $31 more a year on $10,000. NOBL pays quarterly, DLN pays monthly.
- Performance. Over the last 5 years, DLN returned 77.7% versus 36.7% for NOBL, with dividends reinvested. $10,000 would have grown to $17,769 in DLN and $13,672 in NOBL.
- Risk. Their worst declines over the last 5 years were similar: -17.9% for NOBL and -16.3% for DLN from peak to trough.
- Diversification. DLN holds 305 positions and NOBL holds 71.
- Dividend growth. DLN grew its yearly payout 5.6% a year over the last 4 years, versus 4.6% for NOBL.
Bottom line: NOBL fits better if you care most about more income today. DLN fits better if you care most about lower fees, stronger 5-year returns and broader diversification.
Side-by-side snapshot
Trailing twelve-month figures where available. Higher yield is highlighted — not a buy recommendation.
| Metric | NOBL ProShares - S&P 500 Dividend Aristocrats ETF | DLN WisdomTree U.S. LargeCap Dividend Fund |
|---|---|---|
| Dividend yield (TTM) | 2.04% | 1.73% |
| Dividend / share (TTM) | $1.17 | $1.74 |
| Payout frequency | Quarterly | Monthly |
| Last dividend | $0.2825 on Sep 29, 2026 | $0.1950 on Sep 29, 2026 |
| Ex-dividend date | Sep 23, 2026 | Sep 25, 2026 |
| Dividend growth (CAGR) | 4.6% over 4 yrs | 5.6% over 4 yrs |
| Price | $57.49 | $100.11 |
| Dividend growth streak | 3 years | — |
| Beta | 0.62 | 0.75 |
| Max drawdown (5Y) | -17.9% | -16.3% |
| Market cap | $11.51B | $6.31B |
| Exchange | CBOE | AMEX |
| Expense ratio | 0.35% | 0.28% |
| Assets under management | $11.44B | $6.29B |
| Number of holdings | 71 | 305 |
| Top 10 concentration | 16.8% | — |
Income on a $10,000 investment
Illustrative only — assumes current TTM yield stays constant. Actual distributions change.
NOBL
$17.00/mo
$204 /yr at 2.04% yield
DLN
$14.44/mo
$173 /yr at 1.73% yield
Dividend history
Total dividends paid per share in each calendar year. NOBL pays quarterly; DLN pays monthly.
| Year | NOBL | DLN |
|---|---|---|
| 2025 | $1.1127 | $1.6805 |
| 2024 | $1.0226 | $1.5534 |
| 2023 | $0.9969 | $1.6150 |
| 2022 | $0.8720 | $1.5650 |
| 2021 | $0.9301 | $1.3531 |
Strategy: Dividend equity
Rules-based equity funds that screen for companies paying sustainable or rising dividends, aiming at income plus long-term share-price participation. The screen is what defines the fund: yield-ranked indexes deliver more cash now, dividend-growth indexes deliberately exclude the highest payers in favor of durability. Both approaches produce a sector mix that looks nothing like the broad market, typically heavier in financials, healthcare, staples and industrials.
Expect stretches of underperformance versus the broad market whenever leadership comes from the high-growth, low-yield companies these screens exclude.
Performance
Total returns with dividends reinvested, from the adjusted closing price series. $10,000 invested on Oct 20, 2021 would now be worth $13,672 in NOBL and $17,769 in DLN.
| Period | NOBL | DLN |
|---|---|---|
| 1 month | 3.81% | 1.54% |
| 3 months | 2.19% | 3.27% |
| Year to date | 12.20% | 15.16% |
| 1 year | 14.09% | 16.87% |
| 3 years | 42.58% | 74.65% |
| 5 years | 36.72% | 77.69% |
- NOBL
- DLN
Both series indexed to 100 on 2021-10-20 using the adjusted closing price series. Past performance does not guarantee future results.
Sector allocation
Weight of each sector within the fund. Sectors are aligned on the same row so the two funds can be read against each other directly.
- NOBL
- DLN
Top 10 holdings
Largest positions by portfolio weight.
NOBL71 holdings total
| Name | Weight |
|---|---|
| BDXBECTON DICKINSON AND CO | 1.79% |
| FDSFACTSET RESEARCH SYSTEMS INC | 1.77% |
| ADPAUTOMATIC DATA PROCESSING | 1.69% |
| CVXCHEVRON CORP | 1.67% |
| XOMEXXONMOBIL HOLDINGS CORP | 1.66% |
| EMREMERSON ELECTRIC CO | 1.65% |
| ERIEERIE INDEMNITY COMPANY-CL A | 1.65% |
| IBMINTL BUSINESS MACHINES CORP | 1.65% |
| CAHCARDINAL HEALTH INC | 1.64% |
| ROPROPER TECHNOLOGIES INC | 1.63% |
Quick verdict
NOBL fits better if you care most about more income today. DLN fits better if you care most about lower fees, stronger 5-year returns and broader diversification. Model the holding inside your real portfolio before deciding.
Still deciding? Compare them in your portfolio
Forecast dividend income, track payouts, and see how NOBL vs DLN fits with the rest of your holdings. Free to start — no credit card required for the trial.
Frequently asked questions
Is NOBL or DLN better for dividend income?
It depends on your goals. NOBL currently yields 2.04% Trailing Twelve Months (TTM) while DLN yields 1.73%. Higher yield means more current income per dollar invested, but may come with different risk, growth, or NAV characteristics. Compare total return and payout sustainability — not just the headline yield.
What is the difference between NOBL and DLN?
ProShares - S&P 500 Dividend Aristocrats ETF (NOBL) is an ETF listed on CBOE. WisdomTree U.S. LargeCap Dividend Fund (DLN) is an ETF listed on AMEX. Side-by-side metrics on this page cover yield, fees, returns, drawdowns, holdings overlap and dividend history when available.
Which is cheaper, NOBL or DLN?
DLN has the lower expense ratio. NOBL charges 0.35% a year and DLN charges 0.28%, a difference of $7 a year on a $10,000 investment.
Which has performed better, NOBL or DLN?
Over the last 5 years, DLN has the higher total return with dividends reinvested: NOBL returned 36.7% and DLN returned 77.7%. Past performance does not predict future returns.
Which is riskier, NOBL or DLN?
Measured by the worst peak-to-trough decline over the last five years, NOBL has been riskier: NOBL fell as much as 17.9% and DLN as much as 16.3%. Their betas are 0.62 and 0.75.
How often do NOBL and DLN pay dividends?
NOBL pays quarterly and DLN pays monthly.
How much income does $10,000 in NOBL vs DLN generate?
At current TTM yields, $10,000 in NOBL would generate roughly $17.00 per month ($204 annually). The same amount in DLN would produce about $14.44 per month ($173 annually). Actual payouts vary with distribution changes and reinvestment.
Can I hold both NOBL and DLN?
Yes. Many income investors hold both to diversify strategy or index exposure. Whether the combination actually diversifies depends on overlapping holdings and factor exposure. Model both inside Dividend Wealth to see combined income, sector mix, and forecast impact.
Where can I compare NOBL vs DLN with my full portfolio?
Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how NOBL and DLN fit alongside the rest of your portfolio. A 14-day free trial of Standard is available with no credit card required; a limited Free plan is also available.
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For informational and educational purposes only. Not investment advice. Past performance and current yields do not guarantee future results. Verify figures independently before making investment decisions.