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<h2>Key Points</h2><ul><li>SCHD charges a much lower fee and delivers a higher dividend yield than NOBL.</li><li>NOBL tilts more toward consumer defensive and industrials, while SCHD leans heavily on energy and healthcare.</li><li>While one ETF focuses on yield, the other is oriented towards dividend growth</li><li>10 stocks we like better than ProShares S&amp;P 500 Dividend Aristocrats ETF ›</li></ul><p>Both the <strong>Schwab U.S. Dividend Equity ETF</strong> <span class="ticker">(NYSEMKT:SCHD)</span> and the <strong>ProShares S&amp;P 500 Dividend Aristocrats ETF </strong><span class="ticker">(NYSEMKT:NOBL)</span> target dividend-focused U.S. equities, but SCHD stands out for its lower cost and higher yield, while NOBL offers a more diversified sector mix.</p><p>The ETFs take distinct approaches: SCHD tracks the Dow Jones U.S. Dividend 100 Index, whereas NOBL invests at least 80% of its total assets in component securities of its index, with a minimum of 40 equally weighted stocks and no single sector comprising more than 30% of index weight.</p><h2 id="snapshot-cost-amp-size">Snapshot (cost &amp; size)</h2><p></p><section><table><tbody><tr><th>Metric</th><th>SCHD</th><th>NOBL</th></tr><tr><td>Issuer</td><td>Schwab</td><td>ProShares</td></tr><tr><td>Expense ratio</td><td>0.06%</td><td>0.35%</td></tr><tr><td>1-yr total return (as of 2026-03-21)</td><td>13.8%</td><td>5.7%</td></tr><tr><td>Dividend yield</td><td>3.5%</td><td>2%</td></tr><tr><td>Beta</td><td>0.65</td><td>0.76</td></tr><tr><td>AUM</td><td>$98.2 billion</td><td>$10.9 billion</td></tr></tbody></table></section><p><em>Beta measures price volatility relative to the S&amp;P 500; beta is calculated from five-year monthly returns. The 1-yr return represents total return over the trailing 12 months.</em></p><p>SCHD comes in as the more affordable option, charging just 0.06% annually versus NOBL’s 0.35%. SCHD also delivers a higher dividend yield, which may appeal to income-focused investors looking for a stronger payout.</p><p></p><h2 id="performance-amp-risk-comparison">Performance &amp; risk comparison</h2><p></p><section><table><tbody><tr><th>Metric</th><th>SCHD</th><th>NOBL</th></tr><tr><td>Max drawdown (5 y)</td><td>-16.82%</td><td>-17.91%</td></tr><tr><td>Growth of $1,000 over 5 years</td><td>$1,267</td><td>$1,229</td></tr></tbody></table></section><p></p><h2 id="whatx27s-inside">What's inside</h2><p></p><p>NOBL holds around 70 stocks, with no single sector allowed to exceed 30% of the portfolio. The fund’s largest sector exposures are industrials (22.5%), consumer defensive (22.09%), and financial services (13.08%). Top holdings as of March 20 include <strong>Chevron</strong> <span class="ticker">(NYSE:CVX)</span>, <strong>ExxonMobil </strong><span class="ticker">(NYSE:XOM)</span>, and <strong>Linde </strong><span class="ticker">(NASDAQ:LIN)</span>, each making up less than 2% of assets. The fund has a 12.4-year track record. This equally weighted approach aims to reduce concentration risk and maintain broad exposure to established dividend growers.</p><p></p><p>In contrast, SCHD holds 101 names, leaning more heavily on energy (19.88%), consumer defensive (18.5%), and healthcare (16.2%). Its largest positions are <strong>ConocoPhillips </strong><span class="ticker">(NYSE:COP)</span>, <strong>Lockheed Martin Corp</strong> <span class="ticker">(NYSE:LMT)</span>, and Chevron, each at around 4.8%–5% of assets, creating a more top-heavy profile. Both funds avoid leverage, currency hedging, and other structural quirks.</p><p></p><p>For more guidance on ETF investing, check out the full guide at this link.</p><p></p><h2 id="what-this-means-for-investors">What this means for investors</h2><p>The Schwab U.S. Dividend Equity ETF offers a much higher dividend yield than the ProShares S&amp;P 500 Dividend Aristocrats ETF. That’s because SCHD is yield-oriented, investing in stocks offering high yields. However, the fund’s underlying index, the Dow Jones U.S. Dividend 100™ Index, ensures that its companies have a strong dividend track record and selects its constituents using financial ratios. That means only high-quality companies make it to the ETF. </p><p>NOBL data by YCharts</p><p>NOBL, on the other hand, focuses on dividend growth instead of yields, investing only in Dividend Aristocrats®. The term Dividend Aristocrats<em>®</em> is a registered trademark of Standard &amp; Poor’s Financial Services LLC, a subsidiary of the <strong>S&amp;P 500 Global</strong> <span class="ticker">(NYSE:SPGI)</span>. It is an elite group of S&amp;P 500 companies that have raised their dividends for at least 25 consecutive years. These are established companies in their respective industries with strong financials that can support regular, growing dividends. </p><p>The combination of a higher yield with significantly lower fees (expense ratio) makes SCHD a superior dividend ETF to own. NOBL, however, is a better fit for investors seeking dividend stability, as its constituents have a long track record of dividend raises. </p><p></p><p></p><p></p><h2>Should you buy stock in ProShares S&amp;P 500 Dividend Aristocrats ETF right now?</h2>
<p>Before you buy stock in ProShares S&amp;P 500 Dividend Aristocrats ETF, consider this:</p>
<p>The <em>Motley Fool Stock Advisor</em> analyst team just identified what they believe are the <strong>10 best stocks</strong> for investors to buy now… and ProShares S&amp;P 500 Dividend Aristocrats ETF wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.</p>
<p>Consider when <strong>Netflix</strong> made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, <strong>you’d have $495,179</strong>!* Or when <strong>Nvidia</strong> made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, <strong>you’d have $1,058,743</strong>!*</p>
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<p style="color: #767676; text-align: left"><em>*Stock Advisor returns as of March 23, 2026. </em></p><p><em>Neha Chamaria has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Chevron, ProShares S&amp;P 500 Dividend Aristocrats ETF, and S&amp;P Global. The Motley Fool recommends ConocoPhillips, Linde, and Lockheed Martin. The Motley Fool has a disclosure policy.</em></p>
<p>The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.</p>
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NOBL

SCHD

SCHW

<p>The Schwab U.S. Dividend Equity ETF (SCHD) is highlighted as a superior choice for dividend-focused investors due to its lower expense ratio of 0.06% and higher dividend yield of 3.5%, compared to the ProShares S&P 500 Dividend Aristocrats ETF (NOBL) which has a 0.35% expense ratio and a 2% yield. SCHD emphasizes yield and holds 101 stocks, while NOBL focuses on dividend growth with around 70 stocks, primarily in consumer defensive and industrial sectors. Investors seeking higher yields may prefer SCHD, while those valuing dividend stability might opt for NOBL.</p>

SCHD vs NOBL: Which ETF is the Best Buy for Your Dividend Goals?