Dividend comparison
NOBL vs SDY: Which Is Better for Income?
Fees, yield, total returns, drawdowns, holdings overlap and dividend history for ProShares - S&P 500 Dividend Aristocrats ETF and State Street SPDR S&P Dividend ETF, side by side. Updated October 21, 2026.
NOBL vs SDY: key differences
The short answer, from the latest data on this page.
- Fees. Both charge about 0.35% a year, so cost is not what separates them.
- Income. SDY pays more income, yielding 2.42% over the last twelve months versus 2.04% for NOBL. That is about $38 more a year on $10,000. Both pay quarterly.
- Performance. Over the last 5 years, SDY returned 40.4% versus 36.7% for NOBL, with dividends reinvested. $10,000 would have grown to $14,037 in SDY and $13,672 in NOBL.
- Risk. NOBL has been the bumpier ride. Its worst peak-to-trough decline over the last 5 years was -17.9%, against -15.2% for SDY.
- Diversification. SDY holds 155 positions and NOBL holds 71. The ten largest positions make up 16.8% of NOBL and 20.7% of SDY.
- Overlap. At least 53% of the two portfolios overlap by weight, across 60 shared holdings.
- Dividend growth. NOBL grew its yearly payout 4.6% a year over the last 4 years, versus 1.7% for SDY.
Bottom line: NOBL fits better if you care most about faster dividend growth. SDY fits better if you care most about more income today, 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 | SDY State Street SPDR S&P Dividend ETF |
|---|---|---|
| Dividend yield (TTM) | 2.04% | 2.42% |
| Dividend / share (TTM) | $1.17 | $3.78 |
| Payout frequency | Quarterly | Quarterly |
| Last dividend | $0.2825 on Sep 29, 2026 | $0.9168 on Sep 23, 2026 |
| Ex-dividend date | Sep 23, 2026 | Sep 21, 2026 |
| Dividend growth (CAGR) | 4.6% over 4 yrs | 1.7% over 4 yrs |
| Price | $57.49 | $156.10 |
| Dividend growth streak | 3 years | 3 years |
| Beta | 0.62 | 0.58 |
| Max drawdown (5Y) | -17.9% | -15.2% |
| Market cap | $11.51B | $21.52B |
| Exchange | CBOE | AMEX |
| Expense ratio | 0.35% | 0.35% |
| Assets under management | $11.44B | $21.52B |
| Number of holdings | 71 | 155 |
| Top 10 concentration | 16.8% | 20.7% |
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
SDY
$20.16/mo
$242 /yr at 2.42% yield
Dividend history
Total dividends paid per share in each calendar year. NOBL pays quarterly; SDY pays quarterly.
| Year | NOBL | SDY |
|---|---|---|
| 2025 | $1.1127 | $3.6342 |
| 2024 | $1.0226 | $3.3824 |
| 2023 | $0.9969 | $3.2981 |
| 2022 | $0.8720 | $3.1952 |
| 2021 | $0.9301 | $3.3913 |
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 $14,037 in SDY.
| Period | NOBL | SDY |
|---|---|---|
| 1 month | 3.81% | 4.16% |
| 3 months | 2.19% | 0.83% |
| Year to date | 12.20% | 12.17% |
| 1 year | 14.09% | 11.40% |
| 3 years | 42.58% | 47.14% |
| 5 years | 36.72% | 40.37% |
- NOBL
- SDY
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
- SDY
NOBL vs SDY holdings overlap
At least 53% overlap by weight, with 60 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 | SDY weight |
|---|---|---|
| CVXCHEVRON CORP | 1.67% | 2.16% |
| MDTMEDTRONIC PLC | 1.62% | 1.84% |
| TGTTARGET CORP | 1.59% | 1.69% |
| ADPAUTOMATIC DATA PROCESSING | 1.69% | 1.56% |
| XOMEXXONMOBIL HOLDINGS CORP | 1.66% | 1.51% |
| BDXBECTON DICKINSON AND CO | 1.79% | 1.50% |
| KVUEKENVUE INC | 1.41% | 1.53% |
| PEPPEPSICO INC | 1.41% | 1.83% |
| KMBKIMBERLY-CLARK CORP | 1.39% | 1.49% |
| EDCONSOLIDATED EDISON INC | 1.40% | 1.39% |
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 faster dividend growth. SDY fits better if you care most about more income today, 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 SDY fits with the rest of your holdings. Free to start — no credit card required for the trial.
Frequently asked questions
Is NOBL or SDY better for dividend income?
It depends on your goals. NOBL currently yields 2.04% Trailing Twelve Months (TTM) while SDY yields 2.42%. 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 SDY?
ProShares - S&P 500 Dividend Aristocrats ETF (NOBL) is an ETF listed on CBOE. State Street SPDR S&P Dividend ETF (SDY) 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 SDY?
They cost about the same: NOBL charges 0.35% a year and SDY charges 0.35%.
Which has performed better, NOBL or SDY?
Over the last 5 years, SDY has the higher total return with dividends reinvested: NOBL returned 36.7% and SDY returned 40.4%. Past performance does not predict future returns.
Which is riskier, NOBL or SDY?
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 SDY as much as 15.2%. Their betas are 0.62 and 0.58.
How much do NOBL and SDY overlap?
At least 53% of the two portfolios overlap by weight, across 60 shared holdings. The largest shared positions are CVX, MDT, TGT. Holding both still adds meaningful diversification.
How often do NOBL and SDY pay dividends?
Both pay quarterly. The most recent payments were $0.2825 for NOBL and $0.9168 for SDY.
How much income does $10,000 in NOBL vs SDY generate?
At current TTM yields, $10,000 in NOBL would generate roughly $17.00 per month ($204 annually). The same amount in SDY would produce about $20.16 per month ($242 annually). Actual payouts vary with distribution changes and reinvestment.
Can I hold both NOBL and SDY?
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 SDY with my full portfolio?
Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how NOBL and SDY 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.