Dividend comparison
SPYD vs NOBL: Which Is Better for Income?
Fees, yield, total returns, drawdowns, holdings overlap and dividend history for State Street SPDR Portfolio S&P 500 High Dividend ETF and ProShares - S&P 500 Dividend Aristocrats ETF, side by side. Updated October 21, 2026.
SPYD vs NOBL: key differences
The short answer, from the latest data on this page.
- Fees. SPYD is cheaper at 0.07% a year versus 0.35% for NOBL. On $10,000 that is $28 a year less in fees.
- Income. SPYD pays more income, yielding 4.33% over the last twelve months versus 2.04% for NOBL. That is about $229 more a year on $10,000. Both pay quarterly.
- Performance. Over the last 5 years, SPYD returned 38.0% versus 36.7% for NOBL, with dividends reinvested. $10,000 would have grown to $13,797 in SPYD and $13,672 in NOBL.
- Risk. SPYD has been the bumpier ride. Its worst peak-to-trough decline over the last 5 years was -22.2%, against -17.9% for NOBL.
- Diversification. SPYD holds 78 positions and NOBL holds 71. The ten largest positions make up 16.4% of SPYD and 16.8% of NOBL.
- Overlap. 25% of the two portfolios overlap by weight, across 19 shared holdings.
- Dividend growth. SPYD grew its yearly payout 6.0% a year over the last 4 years, versus 4.6% for NOBL.
Bottom line: SPYD fits better if you care most about lower fees, more income today and faster dividend growth. NOBL fits better if you care most about smaller drawdowns.
Side-by-side snapshot
Trailing twelve-month figures where available. Higher yield is highlighted — not a buy recommendation.
| Metric | SPYD State Street SPDR Portfolio S&P 500 High Dividend ETF | NOBL ProShares - S&P 500 Dividend Aristocrats ETF |
|---|---|---|
| Dividend yield (TTM) | 4.33% | 2.04% |
| Dividend / share (TTM) | $2.06 | $1.17 |
| Payout frequency | Quarterly | Quarterly |
| Last dividend | $0.5178 on Sep 23, 2026 | $0.2825 on Sep 29, 2026 |
| Ex-dividend date | Sep 21, 2026 | Sep 23, 2026 |
| Dividend growth (CAGR) | 6.0% over 4 yrs | 4.6% over 4 yrs |
| Price | $47.60 | $57.49 |
| Dividend growth streak | 2 years | 3 years |
| Beta | 0.64 | 0.62 |
| Max drawdown (5Y) | -22.2% | -17.9% |
| Market cap | $7.34B | $11.51B |
| Exchange | AMEX | CBOE |
| Expense ratio | 0.07% | 0.35% |
| Assets under management | $7.26B | $11.44B |
| Number of holdings | 78 | 71 |
| Top 10 concentration | 16.4% | 16.8% |
Income on a $10,000 investment
Illustrative only — assumes current TTM yield stays constant. Actual distributions change.
SPYD
$36.06/mo
$433 /yr at 4.33% yield
NOBL
$17.00/mo
$204 /yr at 2.04% yield
Dividend history
Total dividends paid per share in each calendar year. SPYD pays quarterly; NOBL pays quarterly.
| Year | SPYD | NOBL |
|---|---|---|
| 2025 | $1.9570 | $1.1127 |
| 2024 | $1.8637 | $1.0226 |
| 2023 | $1.8276 | $0.9969 |
| 2022 | $1.9833 | $0.8720 |
| 2021 | $1.5492 | $0.9301 |
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 $13,797 in SPYD and $13,672 in NOBL.
| Period | SPYD | NOBL |
|---|---|---|
| 1 month | 1.13% | 3.81% |
| 3 months | -3.62% | 2.19% |
| Year to date | 10.06% | 12.20% |
| 1 year | 9.07% | 14.09% |
| 3 years | 54.50% | 42.58% |
| 5 years | 37.97% | 36.72% |
- SPYD
- NOBL
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.
- SPYD
- NOBL
SPYD vs NOBL holdings overlap
25% overlap by weight, with 19 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 | SPYD weight | NOBL weight |
|---|---|---|
| CVXCHEVRON CORP | 1.56% | 1.67% |
| MDTMEDTRONIC PLC | 1.52% | 1.62% |
| TGTTARGET CORP | 1.49% | 1.59% |
| SJMJM SMUCKER CO/THE | 1.45% | 1.54% |
| SWKSTANLEY BLACK + DECKER INC | 1.37% | 1.47% |
| AMCRAMCOR PLC | 1.37% | 1.46% |
| KVUEKENVUE INC | 1.33% | 1.41% |
| PEPPEPSICO INC | 1.32% | 1.41% |
| ADMARCHER DANIELS MIDLAND CO | 1.37% | 1.32% |
| KMBKIMBERLY CLARK CORP | 1.30% | 1.39% |
Top 10 holdings
Largest positions by portfolio weight.
SPYD78 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
SPYD fits better if you care most about lower fees, more income today and faster dividend growth. NOBL fits better if you care most about smaller drawdowns. Model the holding inside your real portfolio before deciding.
Still deciding? Compare them in your portfolio
Forecast dividend income, track payouts, and see how SPYD vs NOBL fits with the rest of your holdings. Free to start — no credit card required for the trial.
Frequently asked questions
Is SPYD or NOBL better for dividend income?
It depends on your goals. SPYD currently yields 4.33% Trailing Twelve Months (TTM) while NOBL yields 2.04%. 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 SPYD and NOBL?
State Street SPDR Portfolio S&P 500 High Dividend ETF (SPYD) is an ETF listed on AMEX. ProShares - S&P 500 Dividend Aristocrats ETF (NOBL) is an ETF listed on CBOE. Side-by-side metrics on this page cover yield, fees, returns, drawdowns, holdings overlap and dividend history when available.
Which is cheaper, SPYD or NOBL?
SPYD has the lower expense ratio. SPYD charges 0.07% a year and NOBL charges 0.35%, a difference of $28 a year on a $10,000 investment.
Which has performed better, SPYD or NOBL?
Over the last 5 years, SPYD has the higher total return with dividends reinvested: SPYD returned 38.0% and NOBL returned 36.7%. Past performance does not predict future returns.
Which is riskier, SPYD or NOBL?
Measured by the worst peak-to-trough decline over the last five years, SPYD has been riskier: SPYD fell as much as 22.2% and NOBL as much as 17.9%. Their betas are 0.64 and 0.62.
How much do SPYD and NOBL overlap?
About 25% of the two portfolios overlap by weight, across 19 shared holdings. The largest shared positions are CVX, MDT, TGT. Holding both still adds meaningful diversification.
How often do SPYD and NOBL pay dividends?
Both pay quarterly. The most recent payments were $0.5178 for SPYD and $0.2825 for NOBL.
How much income does $10,000 in SPYD vs NOBL generate?
At current TTM yields, $10,000 in SPYD would generate roughly $36.06 per month ($433 annually). The same amount in NOBL would produce about $17.00 per month ($204 annually). Actual payouts vary with distribution changes and reinvestment.
Can I hold both SPYD and NOBL?
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 SPYD vs NOBL with my full portfolio?
Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how SPYD and NOBL 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.