It's one thing to gather momentum and another to maintain it. The S&P 500 Momentum has effectively done both, gaining 7.5% during the month of June while maintaining a 44.4% gain that led all S&P factor-based equity exposure during the full second quarter.
If you own ProShares S&P 500 Dividend Aristocrats ETF (NYSEARCA:NOBL) for income, the question is whether the Aristocrat methodology delivers a safer payout than the broad market through SPDR S&P 500 ETF (NYSEARCA:SPY).
Investors who own the ProShares S&P 500 Dividend Aristocrats ETF (NYSEARCA:NOBL) bought one of the cleanest stories in dividend investing: S&P 500 companies that have raised their payout for at least 25 straight years.
Few market watchers would have predicted how much volatility markets would have seen at the start of this year. Close Fed observers, for example, were likely expecting a potential new Fed chair to consider cutting rates.
I am upgrading the ProShares S&P 500 Dividend Aristocrats ETF (NOBL) to Buy, viewing it as a compelling large-cap alternative despite recent underperformance. NOBL offers attractive sector exposure, low concentration, zero Magnificent 7 holdings, and a forward PE of 17.4x median, 19.8x average. My base case sees NOBL rising 8% if Tech weakens, with downside protection in bearish scenarios due to Consumer Staples overweight.
Launched on 10/09/2013, the ProShares S&P 500 Dividend Aristocrats ETF (NOBL) is a smart beta exchange traded fund offering broad exposure to the Style Box - Large Cap Value category of the market.
I reiterate a 'Buy' rating on the ProShares S&P 500 Dividend Aristocrats ETF despite recent underperformance vs. the S&P 500. NOBL offers a high-quality, value-tilted portfolio of U.S. dividend growers, with a 2.1% yield and moderate 35bps expense ratio. Valuation stands at 18.4x P/E, about 2.5 points below the S&P 500, though the PEG ratio above 2 signals no deep-value opportunity.
The ProShares S&P 500 Dividend Aristocrat ETF (NOBL) underperformed SPY in March and is lagging again in April, with wide dispersion among individual Aristocrats. Dividend growth among Aristocrats remains modest in 2026, with a current average increase of 3.49%, up slightly from last month's 3.40%. 33 Dividend Aristocrats are identified as potentially undervalued, each offering an estimated long-term annualized return of at least 10%.
While the Trump tariff policies have given an unprecedented boost to US business and manufacturing in particular, there are both geopolitical and domestic question marks that can rock the markets in the near future, which retirees may find unpalatable.
The ProShares S&P 500 Dividend Aristocrats ETF has delivered average annual returns of 11% for the past 12 years. The fund holds only 69 stocks and is heavy on consumer staples, industrials, and financials.
The ProShares S&P 500 Dividend Aristocrats ETF (NOBL) made its debut on 10/09/2013, and is a smart beta exchange traded fund that provides broad exposure to the Style Box - Large Cap Value category of the market.
HDV charges a significantly lower expense ratio and offers a higher dividend yield than NOBL. HDV has posted stronger 1-year and 5-year total returns, with less severe drawdowns and lower beta.