ProShares S&P 500 Dividend Aristocrats ETF (NOBL): Complete Beginner's Guide
Last updated: March 2026 • ProShares • Dividend Aristocrats
Expense Ratio
0.35%
AUM
$12.0B
Dividend Yield
2.10%
Inception
2013
Beginner Score
8.5/10
What is ProShares S&P 500 Dividend Aristocrats ETF?
NOBL exclusively holds S&P 500 companies that have raised their dividends for at least 25 consecutive years, known as Dividend Aristocrats. These elite companies have proven their ability to maintain and grow dividends through recessions and market crises. Beginners who value financial stability and consistent income will appreciate that NOBL holds only the most committed dividend growers in America.
NOBL is managed by ProShares and has been available since 2013. With $12.0B in assets under management, it's a well-established fund with strong institutional backing. The fund charges an expense ratio of 0.35%, which means for every $10,000 you invest, you pay approximately $35 per year in management fees.
NOBL at a Glance — Key Metrics
| Expense Ratio | 0.35% |
| Total Holdings | 67 |
| P/E Ratio | 21.5 |
| Beta | 0.85 |
| Dividend Yield | 2.10% |
| AUM | $12.0B |
| Inception Year | 2013 |
| Issuer | ProShares |
Top 10 Holdings in NOBL
NOBL holds 67 different securities. Here are the largest positions that make up the core of this fund:
| # | Company | Ticker | Weight |
|---|---|---|---|
| 1 | C.H. Robinson Worldwide | CHRW | 1.80% |
| 2 | Expeditors International | EXPD | 1.70% |
| 3 | Albemarle Corp. | ALB | 1.60% |
| 4 | Nucor Corp. | NUE | 1.60% |
| 5 | Brown & Brown Inc. | BRO | 1.60% |
| 6 | Cardinal Health Inc. | CAH | 1.50% |
| 7 | Target Corp. | TGT | 1.50% |
| 8 | Clorox Co. | CLX | 1.50% |
| 9 | Franklin Resources | BEN | 1.50% |
| 10 | Genuine Parts Co. | GPC | 1.50% |
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NOBL Performance History
Here's how NOBL has performed over different time periods. Remember that past performance doesn't guarantee future results, but it gives you a sense of the fund's track record:
YTD
2.00%
1 Year
16.50%
3 Year
7.50%
5 Year
9.50%
10 Year
10.00%
Beginner Suitability Score: 8.5/10
Our proprietary Beginner Suitability Score evaluates ETFs based on five factors that matter most to new investors: fees, volatility, diversification, dividend history, and track record length.
NOBL scores 8.5/10 because it has very low fees, shows lower-than-average volatility, focuses on 67 selected holdings, and has been available since 2013, giving it a proven track record.
How to Buy NOBL — Step by Step
- Open a brokerage account — We recommend Fidelity, Charles Schwab, or Vanguard for ETF investing. All offer $0 commissions on ETF trades.
- Fund your account — Transfer money from your bank. You can start with as little as $1 if your broker offers fractional shares.
- Search for "NOBL" — Use the search bar in your brokerage platform to find ProShares S&P 500 Dividend Aristocrats ETF.
- Place your order — Choose "Market Order" for simplicity or "Limit Order" if you want to set a specific price. Enter how many shares (or dollar amount) you want to buy.
- Set up automatic investing — Most brokers let you schedule recurring purchases (e.g., $100/month on the 1st). This is dollar cost averaging in action.
Dollar Cost Averaging Into NOBL
Here's what consistent monthly investing could look like over time, assuming an average annual return of 8% (approximate historical stock market average):
| Monthly | 10 Years | 20 Years | 30 Years |
|---|---|---|---|
| $100/mo | $18,417 | $59,295 | $150,030 |
| $250/mo | $46,041 | $148,237 | $375,074 |
| $500/mo | $92,083 | $296,474 | $750,148 |
*Projections assume 8% average annual return with monthly compounding. Actual returns will vary. Past performance doesn't guarantee future results.
Fee impact: With NOBL's expense ratio of 0.35%, a $10,000 investment would lose approximately $2,930 to fees over 20 years compared to a zero-fee investment. This is significant — consider whether the fund's strategy justifies these costs.
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Pros and Cons of NOBL
Pros
- ✓Only holds companies with 25+ consecutive years of dividend increases
- ✓Equal-weighted portfolio avoids mega-cap concentration seen in S&P 500 funds
- ✓Dividend Aristocrats have historically outperformed during market downturns
- ✓Strong track record of consistent, growing income for long-term shareholders
Cons
- ✗Higher expense ratio of 0.35% compared to broad market or basic dividend ETFs
- ✗Concentrated portfolio of only 67 stocks increases individual company risk
- ✗Backward-looking dividend criteria may miss future dividend growth champions
NOBL vs Similar ETFs
See how NOBL stacks up against similar funds:
Frequently Asked Questions
Is NOBL a good ETF for beginners?▾
NOBL has a Beginner Suitability Score of 8.5/10 on our scale. This makes it a strong choice for new investors due to its low fees and focused strategy.
What is the expense ratio of NOBL?▾
NOBL has an expense ratio of 0.35%. This means for every $10,000 you invest, you pay approximately $35 per year in fees. This is considered very low and cost-efficient.
How much money do I need to invest in NOBL?▾
You can invest in NOBL with as little as $1 through brokers that offer fractional shares (like Fidelity, Schwab, or Robinhood). There is no minimum investment required beyond the share price itself, which changes daily. Dollar cost averaging — investing a fixed amount regularly — is a popular strategy.
Does NOBL pay dividends?▾
Yes, NOBL pays dividends with a current yield of approximately 2.10%. Dividends are typically paid quarterly and can be reinvested automatically through most brokers.
What are the top holdings in NOBL?▾
The top holdings in NOBL include C.H. Robinson Worldwide (1.80%), Expeditors International (1.70%), Albemarle Corp. (1.60%), and more. The fund holds 67 total positions, providing focused exposure to selected companies.