Dividend comparison
NOBL vs FDVV: Which Is Better for Income?
Fees, yield, total returns, drawdowns, holdings overlap and dividend history for ProShares - S&P 500 Dividend Aristocrats ETF and Fidelity High Dividend ETF, side by side. Updated October 21, 2026.
NOBL vs FDVV: key differences
The short answer, from the latest data on this page.
- Fees. FDVV is cheaper at 0.15% a year versus 0.35% for NOBL. On $10,000 that is $20 a year less in fees.
- Income. FDVV pays more income, yielding 2.77% over the last twelve months versus 2.04% for NOBL. That is about $73 more a year on $10,000. NOBL pays quarterly, FDVV pays monthly.
- Performance. Over the last 5 years, FDVV returned 80.6% versus 36.7% for NOBL, with dividends reinvested. $10,000 would have grown to $18,061 in FDVV and $13,672 in NOBL.
- Risk. FDVV has been the bumpier ride. Its worst peak-to-trough decline over the last 5 years was -20.2%, against -17.9% for NOBL.
- Diversification. FDVV holds 119 positions and NOBL holds 71. The ten largest positions make up 16.8% of NOBL and 36.5% of FDVV.
- Overlap. 12% of the two portfolios overlap by weight, across 13 shared holdings. They mostly own different companies, so they can complement each other.
- Dividend growth. FDVV grew its yearly payout 10.7% a year over the last 4 years, versus 4.6% for NOBL.
Bottom line: FDVV has the edge on these figures, with lower fees, more income today, stronger 5-year returns, faster dividend growth and broader diversification. NOBL does not lead on any of the measures compared here.
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 | FDVV Fidelity High Dividend ETF |
|---|---|---|
| Dividend yield (TTM) | 2.04% | 2.77% |
| Dividend / share (TTM) | $1.17 | $1.71 |
| Payout frequency | Quarterly | Monthly |
| Last dividend | $0.2825 on Sep 29, 2026 | $0.3620 on Sep 22, 2026 |
| Ex-dividend date | Sep 23, 2026 | Sep 18, 2026 |
| Dividend growth (CAGR) | 4.6% over 4 yrs | 10.7% over 4 yrs |
| Price | $57.49 | $61.84 |
| Dividend growth streak | 3 years | 1 year |
| Beta | 0.62 | 0.78 |
| Max drawdown (5Y) | -17.9% | -20.2% |
| Market cap | $11.51B | $10.17B |
| Exchange | CBOE | AMEX |
| Expense ratio | 0.35% | 0.15% |
| Assets under management | $11.44B | $10.17B |
| Number of holdings | 71 | 119 |
| Top 10 concentration | 16.8% | 36.5% |
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
FDVV
$23.10/mo
$277 /yr at 2.77% yield
Dividend history
Total dividends paid per share in each calendar year. NOBL pays quarterly; FDVV pays monthly.
| Year | NOBL | FDVV |
|---|---|---|
| 2025 | $1.1127 | $1.6360 |
| 2024 | $1.0226 | $1.4700 |
| 2023 | $0.9969 | $1.5920 |
| 2022 | $0.8720 | $1.2830 |
| 2021 | $0.9301 | $1.0880 |
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 $18,061 in FDVV.
| Period | NOBL | FDVV |
|---|---|---|
| 1 month | 3.81% | -0.32% |
| 3 months | 2.19% | -0.51% |
| Year to date | 12.20% | 9.08% |
| 1 year | 14.09% | 10.45% |
| 3 years | 42.58% | 73.46% |
| 5 years | 36.72% | 80.61% |
- NOBL
- FDVV
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
- FDVV
NOBL vs FDVV holdings overlap
12% overlap by weight, with 13 holdings in common. Overlap adds up the smaller of the two weights for every stock both funds own, so 100% would mean identical portfolios.
| Largest shared holdings | NOBL weight | FDVV weight |
|---|---|---|
| KOCOCA-COLA CO/THE | 1.63% | 2.16% |
| PGPROCTER & GAMBLE CO/THE | 1.52% | 1.91% |
| PEPPEPSICO INC | 1.41% | 1.32% |
| MCDMCDONALD'S CORP | 1.32% | 1.26% |
| LOWLOWE'S COS INC | 1.38% | 1.12% |
| NEENEXTERA ENERGY INC | 1.25% | 1.11% |
| ESEVERSOURCE ENERGY | 1.24% | 0.98% |
| IBMINTL BUSINESS MACHINES CORP | 1.65% | 0.89% |
| OREALTY INCOME CORP | 1.22% | 0.77% |
| JNJJOHNSON & JOHNSON | 1.42% | 0.54% |
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
FDVV has the edge on these figures, with lower fees, more income today, stronger 5-year returns, faster dividend growth and broader diversification. NOBL does not lead on any of the measures compared here. 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 FDVV fits with the rest of your holdings. Free to start — no credit card required for the trial.
Frequently asked questions
Is NOBL or FDVV better for dividend income?
It depends on your goals. NOBL currently yields 2.04% Trailing Twelve Months (TTM) while FDVV yields 2.77%. 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 FDVV?
ProShares - S&P 500 Dividend Aristocrats ETF (NOBL) is an ETF listed on CBOE. Fidelity High Dividend ETF (FDVV) 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 FDVV?
FDVV has the lower expense ratio. NOBL charges 0.35% a year and FDVV charges 0.15%, a difference of $20 a year on a $10,000 investment.
Which has performed better, NOBL or FDVV?
Over the last 5 years, FDVV has the higher total return with dividends reinvested: NOBL returned 36.7% and FDVV returned 80.6%. Past performance does not predict future returns.
Which is riskier, NOBL or FDVV?
Measured by the worst peak-to-trough decline over the last five years, FDVV has been riskier: NOBL fell as much as 17.9% and FDVV as much as 20.2%. Their betas are 0.62 and 0.78.
How much do NOBL and FDVV overlap?
About 12% of the two portfolios overlap by weight, across 13 shared holdings. The largest shared positions are KO, PG, PEP. Holding both still adds meaningful diversification.
How often do NOBL and FDVV pay dividends?
NOBL pays quarterly and FDVV pays monthly.
How much income does $10,000 in NOBL vs FDVV generate?
At current TTM yields, $10,000 in NOBL would generate roughly $17.00 per month ($204 annually). The same amount in FDVV would produce about $23.10 per month ($277 annually). Actual payouts vary with distribution changes and reinvestment.
Can I hold both NOBL and FDVV?
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 FDVV with my full portfolio?
Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how NOBL and FDVV 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.