SCHD vs NOBL
A yield-screened dividend-grower versus the equal-weighted S&P 500 Dividend Aristocrats — 25+ year raisers in one fund. Here’s how SCHD and NOBL compare for dividend investors — with a calculator for each so you can model the income yourself.
SCHD
Schwab U.S. Dividend Equity ETF
- Type
- Dividend-growth ETF
- Issuer
- Charles Schwab
- Pays
- quarterly
SCHD tracks the Dow Jones U.S. Dividend 100 Index, which screens for companies with a long record of paying dividends plus quality and financial-strength filters. It is one of the most widely held dividend-growth ETFs, favoured for its low expense ratio and steadily rising payout.
SCHD dividend calculatorNOBL
ProShares S&P 500 Dividend Aristocrats ETF
- Type
- Dividend-growth ETF
- Issuer
- ProShares
- Pays
- quarterly
NOBL equally weights the S&P 500 Dividend Aristocrats — companies that have increased their dividend for at least 25 consecutive years. It is the best-known way to own the aristocrats as a single fund.
NOBL dividend calculatorSCHD vs NOBL dividend, side by side
Current dividend figures for SCHD and NOBL as of Oct 13, 2026. Yields and payouts change — verify the latest numbers with your broker before investing.
SCHD vs NOBL at a glance
| SCHD | NOBL | |
|---|---|---|
| Index it tracks | Dow Jones U.S. Dividend 100 Index | S&P 500 Dividend Aristocrats Index |
| Entry rule | 10+ years of dividends, plus quality and yield screens | 25+ years of dividend raises, S&P 500 members |
| Weighting | By company size, capped at 4% a stock | Equal weight, reset every quarter |
| Stocks held | 98 (Oct 15, 2026) | 68 (Oct 15, 2026) |
| Expense ratio | 0.06% | 0.35% |
| Trailing dividend yield | 3.17% (Oct 13, 2026) | 2.11% (Oct 13, 2026) |
| Dividend growth, 2017 to 2025 | 11.2% a year | 9.0% a year |
| Total return, 1 year | 23.36% | 7.27% |
| Total return, 5 years | 9.48% a year | 6.30% a year |
| Total return, 10 years | 12.44% a year | 9.45% a year |
From Schwab’s and ProShares’ own pages, read on October 16, 2026. Returns count reinvested dividends at net asset value, through September 30, 2026.
SCHD vs NOBL dividend growth by year
| Year | SCHD | NOBL |
|---|---|---|
| 2025 | +5.35% | +8.81% |
| 2024 | +12.23% | +2.58% |
| 2023 | +3.77% | +14.31% |
| 2022 | +13.89% | -6.24% |
| 2021 | +10.89% | +8.97% |
| 2020 | +17.64% | +19.37% |
| 2019 | +19.78% | -0.43% |
| 2018 | +6.95% | +28.90% |
Change in dividends paid per share from the year before, grouped by ex-dividend date, from each fund’s verified payment history. The faster grower each year is marked.
Two different dividend rules
NOBL, from ProShares, owns the S&P 500 Dividend Aristocrats: S&P 500 companies that have raised their dividend for at least 25 years in a row. It holds them in equal amounts and rebalances every quarter, so on October 15, 2026 each of its 68 stocks was between about 1% and 1.8% of the fund.
SCHD, from Schwab, asks for only 10 straight years of dividends, but then screens for higher yield, strong cash flow, return on equity and dividend growth. It weights by company size, with a 4% cap per stock, so its top holdings are larger shares of the fund.
How much they overlap
Matching the two holdings lists, just 13 stocks are in both funds, including Coca-Cola, PepsiCo, Procter & Gamble, Chevron and ADP. Those 13 make up 29.56% of SCHD’s money and 19.43% of NOBL’s.
So the funds are less alike than their names suggest. NOBL also holds a few S&P 500 members based outside the U.S.; 92.56% of its money was in U.S. companies by domicile.
Yield: SCHD pays more
Over the 12 months to Oct 13, 2026, SCHD’s trailing yield was about 3.17% and NOBL’s about 2.11%. ProShares listed NOBL’s 30-day SEC yield at 2.09% on August 31, 2026; Schwab put SCHD’s at 3.26% on October 14.
On $10,000, that is about $317 a year from SCHD against about $211 from NOBL.
Dividend growth by year
From 2017 to 2025, SCHD’s dividend per share grew about 11.2% a year and NOBL’s about 9.0%. Year by year it is close to a tie: NOBL grew faster in 2018, 2020, 2023 and 2025, and SCHD in the other 4.
The swings can be large. The widest gap came in 2018 (28.90% against 6.95%), when NOBL grew faster by 21.95 percentage points. SCHD’s best was 2019 (19.78% against -0.43%). NOBL’s own payout per share fell in 2022 and 2019, even though the fund only holds companies with long raise records.
Returns and fees
SCHD has returned more. To September 30, 2026, it made 23.36% over one year, 9.48% a year over five and 12.44% a year over ten. NOBL made 7.27%, 6.30% and 9.45%.
SCHD is also much cheaper: 0.06% a year, $6 on $10,000, against 0.35%, $35, for NOBL.
Fund facts, returns and holdings come from Schwab’s and ProShares’ own pages; the overlap comes from matching every holding. Dividend histories come from each fund’s researched guide, checked against at least two public payment records. Last checked Oct 16, 2026. Sources: ProShares — NOBL fund page; Schwab Asset Management — SCHD fund page; stockanalysis.com — NOBL dividend history; stockanalysis.com — SCHD dividend history. Past returns do not predict future ones. Not financial advice.
Related dividend guides
How SCHD and NOBL differ
SCHD — SCHD tracks the Dow Jones U.S. Dividend 100 Index, which screens for companies with a long record of paying dividends plus quality and financial-strength filters. It is one of the most widely held dividend-growth ETFs, favoured for its low expense ratio and steadily rising payout.
NOBL — NOBL equally weights the S&P 500 Dividend Aristocrats — companies that have increased their dividend for at least 25 consecutive years. It is the best-known way to own the aristocrats as a single fund.
In practice the choice comes down to your goal. SCHD suits an investor who wants a rising dividend over time rather than the highest starting yield, while NOBL suits one who wants a rising dividend over time rather than the highest starting yield. The two are not mutually exclusive — plenty of portfolios hold a growth-oriented fund and an income-oriented one together. What matters is matching each to its job and not judging a fund on its headline yield alone.
Rather than compare a single snapshot yield (which moves daily), open each calculator and enter current figures: the SCHD calculator and the NOBL calculator. To compare long-term compounding head to head, run the same contributions through the dividend reinvestment calculator with each fund’s assumptions.
SCHD vs NOBL FAQ
- What is the best Dividend Aristocrat ETF?
- NOBL is the fund built directly on the S&P 500 Dividend Aristocrats Index. This page does not rank funds; SCHD uses a different, shorter 10-year rule and has returned more over 10 years.
- What is the dividend yield for NOBL?
- About 2.11% on a trailing 12-month basis as of Oct 13, 2026. ProShares’ 30-day SEC yield figure was 2.09% as of August 31, 2026.
- Should I hold both SCHD and NOBL?
- They share only 13 stocks, so owning both adds many companies. NOBL brings long-time raisers outside SCHD’s screen; SCHD adds higher yield. This page does not give advice on whether that mix suits you.
- What's the main difference between SCHD and NOBL?
- SCHD is a dividend-growth etf from Charles Schwab; NOBL is a dividend-growth etf from ProShares. A yield-screened dividend-grower versus the equal-weighted S&P 500 Dividend Aristocrats — 25+ year raisers in one fund.
- Does SCHD or NOBL pay more dividends?
- As of Oct 13, 2026, SCHD yields about 3.17% and NOBL about 2.11%, so SCHD currently pays the higher yield. SCHD pays quarterly; NOBL pays quarterly. Yields move daily, so verify current figures and use the calculators below to model the income yourself. Higher-yield funds pay more today, while dividend-growth funds start lower and raise the payout over time.
- Which is better, SCHD or NOBL?
- Neither is universally better — they suit different goals. SCHD fits an investor who wants a rising dividend over time rather than the highest starting yield; NOBL fits one who wants a rising dividend over time rather than the highest starting yield. Match the fund to your objective, time horizon, and tax situation, and consider a licensed advisor.
- Can I hold both SCHD and NOBL?
- Many investors do, to blend current income with growth. Just be aware of overlap — if both hold similar large-cap US stocks, you may be less diversified than the two tickers suggest.