NOBL

The ProShares S&P 500 Dividend Aristocrats ETF (NOBL) is an exchange-traded fund that seeks to track the performance of an index composed of U.S. companies from the S&P 500 that have historically increased their dividends for a long consecutive period. The ETF is managed by ProShares and trades under the ticker NOBL on NYSE Arca.

Classified as a U.S. equity ETF with a focus on quality dividend growth, NOBL aims to reflect, before fees and expenses, the aggregated performance of the stocks included in its benchmark index. 

To achieve this objective, the fund employs a passive management strategy, maintaining a portfolio that seeks to replicate the composition and weighting of the Dividend Aristocrats index.

The benchmark for NOBL is the S&P 500 Dividend Aristocrats Index, comprised of S&P 500 companies that have increased their dividends annually for at least 25 consecutive years, weighted by float-adjusted market capitalization.

Diversification and sector exposure

NOBL provides exposure to the U.S. equity market with a focus on companies with strong dividend growth histories, including sectors such as:

• Consumer staples.

• Health care.

• Industrials.

• Information technology.

• Consumer discretionary.

• Financials.

Structure and costs

Shares of NOBL are traded on the secondary market, while creation and redemption of shares are carried out by authorized participants, a mechanism that helps keep the ETF’s market price close to its net asset value (NAV).

The fund carries a competitive expense ratio, typical of dividend-focused ETFs, and does not charge a performance fee. NOBL makes periodic income distributions, derived from dividend payments by the companies held in its portfolio. The ETF has a single share class and trades exclusively under the ticker NOBL.

History and evolution of the ETF

The ProShares S&P 500 Dividend Aristocrats ETF was launched in 2013, amid growing investor interest in strategies that emphasize companies with strong, consistent dividend growth.

Since its inception, NOBL has been used by institutional and individual investors seeking exposure to high-quality dividend growers and stable income.

Between 2020 and 2024, the ETF reflected U.S. market cycles, including periods of volatility and economic recovery, while maintaining high liquidity and widespread use in strategies that combine capital appreciation with income generation.