Dividend Aristocrats ETFs: 25+ Years of Raises
Dividend Aristocrats have raised dividends for 25+ straight years. Here are the ETFs that hold them and what the track record shows.
Don't have time? Here's what you need to know:
- 1Dividend Aristocrats have raised dividends 25+ consecutive years — a quality filter for financial strength
- 2NOBL is the pure Aristocrat ETF but charges 0.35% — nearly 6x more than SCHD or VIG
- 3SCHD has outperformed NOBL on both total return and dividend growth over most periods
- 4The Aristocrat label is marketing — cheaper quality-focused ETFs capture the same dividend reliability factor
25+ Years of Consecutive Increases: The Aristocrat Standard
Dividend Aristocrats are S&P 500 companies that have increased their dividend every year for at least 25 consecutive years. The current list includes about 67 companies: Coca-Cola (62 years), Johnson & Johnson (62 years), Procter & Gamble (68 years), 3M (66 years), and similar blue-chip stalwarts. These companies maintained or raised dividends through the dot-com crash, the 2008 financial crisis, and COVID.
The Aristocrat screen is a quality filter. To raise dividends for 25+ years, a company needs stable cash flows, conservative financial management, and a business model that performs across economic cycles. The screen naturally excludes cyclical, unprofitable, and overleveraged companies.
Dividend Aristocrat ETFs
NOBL is the pure Aristocrat play — equal-weighted across all 67 qualifiers. SDY uses a looser definition (20+ years) and includes mid-caps. VIG requires only 10 years but is much cheaper (0.06% vs 0.35%). SCHD is not technically an Aristocrat fund but its quality screens produce similar results at a lower cost.
| ETF | Index | Expense Ratio | Holdings | Yield | Weighting |
|---|---|---|---|---|---|
| NOBL | S&P 500 Dividend Aristocrats | 0.35% | 67 | ~2.0% | Equal weight |
| SDY | S&P High Yield Dividend Aristocrats | 0.35% | 120+ | ~2.5% | Yield-weighted |
| VIG | Dividend Appreciation (10+ years) | 0.06% | 300+ | ~1.8% | Market-cap weighted |
| SCHD | Quality Dividend Growth | 0.06% | 100 | ~3.5% | Multi-factor |
Are Aristocrat ETFs Worth the Premium?
NOBL charges 0.35% — nearly 6x the cost of SCHD (0.06%) or VIG (0.06%). The Aristocrat label sounds prestigious, but the track record does not justify the premium. Over the past 10 years, SCHD has outperformed NOBL on both total return and dividend growth. SCHD's multi-factor quality screen is more effective than the simple 25-year streak requirement.
The Aristocrat screen also has a survivorship problem: 3M was an Aristocrat for decades before cutting its dividend in 2024. AT&T was an Aristocrat before its dividend cut in 2022. The 25-year streak measures the past. SCHD's forward-looking quality screens may better predict future dividend reliability.
Tip: If you want Aristocrat-style quality at a lower cost, SCHD (0.06%) or VIG (0.06%) deliver similar or better results than NOBL (0.35%). The Aristocrat label is marketing — the underlying factor is dividend consistency, which cheaper funds capture equally well.
Frequently Asked Questions
Is NOBL a good investment?
It is decent but overpriced. NOBL's equal-weight Aristocrat approach has underperformed SCHD's quality-screened approach over most time periods. At 0.35%, you pay nearly 6x the fee for lower returns. SCHD is the better choice for most dividend investors.
Do Dividend Aristocrats outperform the market?
Over very long periods (30+ years), yes — slightly. But the outperformance comes from the quality factor, not the Aristocrat label itself. Cheaper quality-focused ETFs (SCHD, VIG) capture the same factor at lower cost.
Can a company lose its Aristocrat status?
Yes — if it freezes or cuts its dividend, it is removed. AT&T, 3M, and Walgreens are recent examples of former Aristocrats that cut dividends. The index reconstitutes annually.
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Alex Harrington
CFA Level II Candidate, Finance & Economics
Alex Harrington is an independent ETF researcher and personal finance writer with over 8 years of experience analyzing exchange-traded funds. A CFA Level II candidate with a background in economics, Alex has reviewed 800+ ETFs and helped thousands of beginners build their first investment portfolios through clear, jargon-free education.
This content is for educational purposes only and does not constitute financial advice. Past performance does not guarantee future results. Consult a licensed financial advisor before making investment decisions.