Dividend comparison
VYM vs NOBL: Which Is Better for Income?
Fees, yield, total returns, drawdowns, holdings overlap and dividend history for Vanguard High Dividend Yield ETF and ProShares - S&P 500 Dividend Aristocrats ETF, side by side. Updated October 21, 2026.
- Fees. VYM is cheaper at 0.04% a year versus 0.35% for NOBL. On $10,000 that is $31 a year less in fees.
- Income. VYM pays more income, yielding 2.28% over the last twelve months versus 2.04% for NOBL. That is about $24 more a year on $10,000. Both pay quarterly.
- Performance. Over the last 5 years, VYM returned 67.0% versus 36.7% for NOBL, with dividends reinvested. $10,000 would have grown to $16,701 in VYM 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 -15.8% for VYM.
- Diversification. VYM holds 589 positions and NOBL holds 71. The ten largest positions make up 26.2% of VYM and 16.8% of NOBL.
- Overlap. At least 19% of the two portfolios overlap by weight, across 24 shared holdings. They mostly own different companies, so they can complement each other.
- Dividend growth. NOBL grew its yearly payout 4.6% a year over the last 4 years, versus 3.1% for VYM.
- Size. VYM is the larger fund with $95.8 billion in assets, against $11.4 billion for NOBL.
Bottom line: VYM fits better if you care most about lower fees, stronger 5-year returns and broader diversification. NOBL fits better if you care most about faster dividend growth.
| Metric | VYM Vanguard High Dividend Yield ETF | NOBL ProShares - S&P 500 Dividend Aristocrats ETF |
|---|---|---|
| Dividend yield (TTM) | 2.28% | 2.04% |
| Dividend / share (TTM) | $3.68 | $1.17 |
| Payout frequency | Quarterly | Quarterly |
| Last dividend | $0.8869 on Sep 22, 2026 | $0.2825 on Sep 29, 2026 |
| Ex-dividend date | Sep 18, 2026 | Sep 23, 2026 |
| Dividend growth (CAGR) | 3.1% over 4 yrs | 4.6% over 4 yrs |
| Price | $161.15 | $57.49 |
| Dividend growth streak | 15 years | 3 years |
| Beta | 0.75 | 0.62 |
| Max drawdown (5Y) | -15.8% | -17.9% |
| Market cap | $95.79B | $11.51B |
| Exchange | AMEX | CBOE |
| Expense ratio | 0.04% | 0.35% |
| Assets under management | $95.80B | $11.44B |
| Number of holdings | 589 | 71 |
| Top 10 concentration | 26.2% | 16.8% |
VYM
$19.01/mo
$228 /yr at 2.28% yield
NOBL
$17.00/mo
$204 /yr at 2.04% yield
| Year | VYM | NOBL |
|---|---|---|
| 2025 | $3.5008 | $1.1127 |
| 2024 | $3.4945 | $1.0226 |
| 2023 | $3.4780 | $0.9969 |
| 2022 | $3.2518 | $0.8720 |
| 2021 | $3.0961 | $0.9301 |
Expect stretches of underperformance versus the broad market whenever leadership comes from the high-growth, low-yield companies these screens exclude.
What VYM vs NOBL actually do
It tracks the FTSE High Dividend Yield Index, which ranks US dividend payers by forecast yield, excludes REITs, and works down that ranking until roughly half the market value of the eligible universe is covered. Selection is on yield alone with no quality or growth screen, so the portfolio is wide and diversified but includes some payers a stricter screen would reject. Weighting is by market cap, meaning the biggest dividend-paying companies dominate.
Suits an investor who wants dependable above-market income with maximum breadth and minimum concentration risk. Less suitable if you specifically want dividend growth or a fundamental quality filter, since neither is part of the selection rule.
Core dividend holding
| Period | VYM | NOBL |
|---|---|---|
| 1 month | 1.19% | 3.81% |
| 3 months | 0.62% | 2.19% |
| Year to date | 12.28% | 12.20% |
| 1 year | 14.10% | 14.09% |
| 3 years | 68.66% | 42.58% |
| 5 years | 67.01% | 36.72% |
- VYM
- NOBL
Both series indexed to 100 on 2021-10-20 using the adjusted closing price series. Past performance does not guarantee future results.
- VYM
- NOBL
| Largest shared holdings | VYM weight | NOBL weight |
|---|---|---|
| XOMExxonMobil Holdings Corp | 2.84% | 1.66% |
| CVXChevron Corp | 1.61% | 1.67% |
| ABBVAbbVie Inc | 1.96% | 1.60% |
| PGProcter & Gamble Co/The | 1.44% | 1.52% |
| JNJJohnson & Johnson | 2.71% | 1.42% |
| KOCoca-Cola Co/The | 1.42% | 1.63% |
| CATCaterpillar Inc | 1.56% | 1.17% |
| LINLinde PLC | 0.93% | 1.42% |
| IBMInternational Business Machines Corp | 0.88% | 1.65% |
| PEPPepsiCo Inc | 0.73% | 1.41% |
VYM589 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
VYM fits better if you care most about lower fees, stronger 5-year returns and broader diversification. NOBL fits better if you care most about faster dividend growth. Model the holding inside your real portfolio before deciding.
Frequently asked questions
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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.