Dividend comparison
SCHD vs NOBL: Which Is Better for Income?
Fees, yield, total returns, drawdowns, holdings overlap and dividend history for Schwab U.S. Dividend Equity ETF and ProShares - S&P 500 Dividend Aristocrats ETF, side by side. Updated October 21, 2026.
- Fees. SCHD is cheaper at 0.06% a year versus 0.35% for NOBL. On $10,000 that is $29 a year less in fees.
- Income. SCHD pays more income, yielding 3.04% over the last twelve months versus 2.04% for NOBL. That is about $100 more a year on $10,000. Both pay quarterly.
- Performance. Over the last 5 years, SCHD returned 57.9% versus 36.7% for NOBL, with dividends reinvested. $10,000 would have grown to $15,790 in SCHD and $13,672 in NOBL.
- Risk. Their worst declines over the last 5 years were similar: -16.8% for SCHD and -17.9% for NOBL from peak to trough.
- Diversification. SCHD holds 102 positions and NOBL holds 71. The ten largest positions make up 41.7% of SCHD and 16.8% of NOBL.
- Overlap. 16% of the two portfolios overlap by weight, across 13 shared holdings. They mostly own different companies, so they can complement each other.
- Dividend growth. SCHD grew its yearly payout 8.7% a year over the last 4 years, versus 4.6% for NOBL.
- Size. SCHD is the larger fund with $114.7 billion in assets, against $11.4 billion for NOBL.
Bottom line: SCHD has the edge on these figures, with lower fees, more income today, stronger 5-year returns and faster dividend growth. NOBL does not lead on any of the measures compared here.
| Metric | SCHD Schwab U.S. Dividend Equity ETF | NOBL ProShares - S&P 500 Dividend Aristocrats ETF |
|---|---|---|
| Dividend yield (TTM) | 3.04% | 2.04% |
| Dividend / share (TTM) | $1.05 | $1.17 |
| Payout frequency | Quarterly | Quarterly |
| Last dividend | $0.2665 on Sep 28, 2026 | $0.2825 on Sep 29, 2026 |
| Ex-dividend date | Sep 23, 2026 | Sep 23, 2026 |
| Dividend growth (CAGR) | 8.7% over 4 yrs | 4.6% over 4 yrs |
| Price | $34.69 | $57.49 |
| Dividend growth streak | 13 years | 3 years |
| Beta | 0.58 | 0.62 |
| Max drawdown (5Y) | -16.8% | -17.9% |
| Market cap | $98.31B | $11.51B |
| Exchange | AMEX | CBOE |
| Expense ratio | 0.06% | 0.35% |
| Assets under management | $114.71B | $11.44B |
| Number of holdings | 102 | 71 |
| Top 10 concentration | 41.7% | 16.8% |
SCHD
$25.32/mo
$304 /yr at 3.04% yield
NOBL
$17.00/mo
$204 /yr at 2.04% yield
| Year | SCHD | NOBL |
|---|---|---|
| 2025 | $1.0476 | $1.1127 |
| 2024 | $0.9944 | $1.0226 |
| 2023 | $0.8862 | $0.9969 |
| 2022 | $0.8540 | $0.8720 |
| 2021 | $0.7499 | $0.9301 |
Expect stretches of underperformance versus the broad market whenever leadership comes from the high-growth, low-yield companies these screens exclude.
What SCHD vs NOBL actually do
It tracks the Dow Jones U.S. Dividend 100 Index, which first requires at least ten consecutive years of dividends, then ranks the survivors on a composite of cash flow to total debt, return on equity, dividend yield and five-year dividend growth. The top 100 are held at market-cap weights with a 4% cap per stock and 25% per sector, reconstituted annually and rebalanced quarterly. Those quality screens push the portfolio toward mature value sectors and largely out of high-growth technology, which is the single biggest reason its return diverges from the S&P 500 in either direction.
Suits an investor who wants a growing dividend stream plus share-price participation and can sit out technology-led rallies without changing course. Not a match for someone who needs the highest available current yield or wants full market exposure.
Core dividend holding
| Period | SCHD | NOBL |
|---|---|---|
| 1 month | 3.83% | 3.81% |
| 3 months | 6.77% | 2.19% |
| Year to date | 29.59% | 12.20% |
| 1 year | 33.01% | 14.09% |
| 3 years | 66.22% | 42.58% |
| 5 years | 57.90% | 36.72% |
- SCHD
- NOBL
Both series indexed to 100 on 2021-10-20 using the adjusted closing price series. Past performance does not guarantee future results.
- SCHD
- NOBL
| Largest shared holdings | SCHD weight | NOBL weight |
|---|---|---|
| ADPAUTOMATIC DATA PROCESSING INC | 2.81% | 1.69% |
| CVXCHEVRON | 4.31% | 1.67% |
| KOCOCA-COLA | 4.30% | 1.63% |
| TGTTARGET CORP | 1.71% | 1.59% |
| PGPROCTER & GAMBLE | 4.34% | 1.52% |
| ABTABBOTT LABORATORIES | 3.83% | 1.48% |
| FASTFASTENAL | 1.44% | 1.61% |
| PEPPEPSICO | 3.86% | 1.41% |
| ADMARCHER DANIELS MIDLAND | 0.96% | 1.32% |
| KMBKIMBERLY CLARK | 0.86% | 1.39% |
SCHD102 holdings total
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
SCHD has the edge on these figures, with lower fees, more income today, stronger 5-year returns and faster dividend growth. NOBL does not lead on any of the measures compared here. Model the holding inside your real portfolio before deciding.
Frequently asked questions
Is SCHD or NOBL better for dividend income?
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How much do SCHD and NOBL overlap?
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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.