🤝 BFF Take
VIG Wins on Cost — NOBL Offers a Stricter Quality Screen at a High Fee
NOBL (ProShares S&P 500 Dividend Aristocrats ETF) and VIG (Vanguard Dividend Appreciation ETF) both target dividend growth quality, but set very different bars. NOBL holds only the 67 S&P 500 companies that have raised their dividends every year for at least 25 consecutive years — the Dividend Aristocrats. These are businesses like Johnson & Johnson, Coca-Cola, and Procter & Gamble with exceptional financial stability. VIG holds ~315 stocks with at least 10 consecutive years of dividend increases. VIG charges 0.06%; NOBL charges 0.35% — nearly 6x more. Both have produced similar total returns historically. The higher NOBL fee creates a real performance hurdle that's difficult to overcome through its stricter quality screen alone.
📋 Quick Takeaways
👑NOBL requires 25+ consecutive years of dividend increases; VIG requires 10+ — very different quality bars
💰VIG costs 0.06% vs NOBL's 0.35% — nearly 6x cheaper for a slightly less strict dividend screen
📊NOBL holds ~67 stocks (highly concentrated); VIG holds ~315 stocks (much more diversified)
📊 Data-Based Take: VIG has the lower fee
Whether the lower-cost fund suits your situation depends on your existing holdings, account type, tax situation, and how you use each fund. This is a cost comparison, not a personalized recommendation.
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Reviewed by a CFA® Charterholder · Data updated Jun 2026 · Educational only, not financial advice
NOBL
ProShares S&P 500 Dividend Aristocrats ETF
VIG
Vanguard Dividend Appreciation ETF
📋 NOBL vs VIG — Key Facts Side by Side
| Metric |
NOBL |
VIG |
| Fund Name |
ProShares S&P 500 Dividend Aristocrats ETF |
Vanguard Dividend Appreciation ETF |
| Issuer |
ProShares |
Vanguard |
| Tracks Index |
S&P 500 Dividend Aristocrats |
S&P US Dividend Growers |
| Expense Ratio |
0.35% |
0.06% ✓ |
| Cost per $10K/yr |
$35.00 |
$6.00 |
| AUM |
$10B |
$90B |
| Holdings |
67 |
315 |
| Inception |
2013 |
2006 |
| 1-Year Return |
+11.20% |
+13.40% |
| 3-Year Return |
+8.40% |
+10.20% |
| 5-Year Return |
+10.80% |
+12.60% |
| Avg Bid-Ask Spread |
0.01% |
0.00% |
Data from ETF BFF database. Returns are annualised. Not investment advice.
📊 NOBL vs VIG — Annualised Returns
Annualised returns (trailing, price-based). Past performance does not guarantee future results.
🎯 Should You Buy NOBL or VIG?
Choose if...
NOBL
- You want tech-heavy large-cap growth exposure via S&P 500 Dividend Aristocrats
- You already use ProShares and prefer staying within their fund family
Choose if...
VIG
- You want the lowest fees — saves ~$29/yr per $10K vs NOBL
- You want broader diversification (315 holdings vs 67)
- You want tech-heavy large-cap growth exposure via S&P US Dividend Growers
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❓ NOBL vs VIG — Frequently Asked Questions
What are Dividend Aristocrats?
Dividend Aristocrats are S&P 500 companies that have raised their dividend every year for at least 25 consecutive years. As of 2025, there are about 67 companies meeting this criterion, including Coca-Cola, Johnson & Johnson, Procter & Gamble, and Colgate-Palmolive. NOBL ETF tracks this exclusive list. These companies have proven financial stability and pricing power over multiple economic cycles.
Is NOBL or VIG better for dividend income?
Both yield similarly — around 1.8-2.4% — because both focus on dividend growth quality rather than maximum yield. NOBL's stricter screen means slightly more mature dividend payers; VIG's broader universe includes faster-growing companies earlier in their dividend growth journey. For income today, neither is as high-yielding as SCHD. For long-term dividend growth, both are solid choices.
Has NOBL outperformed VIG historically?
Long-term performance between NOBL and VIG has been similar, with VIG often slightly ahead — largely because VIG's lower 0.06% expense ratio vs NOBL's 0.35% gives it a structural edge. The quality screen difference between 10-year and 25-year dividend growth history hasn't produced a meaningful return gap, which makes NOBL's higher fee hard to justify on performance grounds alone.
Can NOBL or VIG holdings be cut from the index?
Yes. If a company in NOBL cuts or freezes its dividend, it loses Aristocrat status and is removed from the index. This discipline is actually a feature — it forces systematic removal of financially deteriorating companies. VIG similarly removes companies that cut their dividend. Both indexes automatically remove dividend cutters at the next rebalancing.
How do NOBL and VIG compare to DGRO or SCHD?
SCHD offers higher current yield (3.5-4%) by combining dividend yield with quality screens. DGRO uses a 5-year dividend growth threshold with a payout ratio screen. VIG (10-year threshold) and NOBL (25-year threshold) focus more purely on dividend growth consistency. The higher VIG/NOBL bar means more stable but lower-yielding companies. SCHD often serves income seekers; VIG and NOBL serve long-term dividend growth investors.
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ℹ️ Data shown is for educational purposes and may not reflect the most current figures. Returns are trailing price-based and exclude dividend reinvestment. Past performance does not guarantee future results. ETF BFF is not a licensed financial advisor — this is not personalized financial advice.