NOBL Dividend Calculator
Dividend growth rate (CAGR)
| Year | Yield | Div / share | Annual income | Yield on cost | Cumulative income | Portfolio value | Shares |
|---|---|---|---|---|---|---|---|
| 1 | 1.0% | $1.14 | $107.00 | 0.9% | $107.00 | $12,826 | 117.38 |
| 2 | 1.1% | $1.19 | $139.56 | 0.9% | $246.56 | $15,765 | 140.30 |
| 3 | 1.1% | $1.24 | $174.45 | 1.0% | $421.01 | $18,824 | 162.89 |
| 4 | 1.1% | $1.30 | $211.81 | 1.1% | $632.82 | $22,007 | 185.17 |
| 5 | 1.1% | $1.36 | $251.82 | 1.1% | $884.64 | $25,321 | 207.17 |
| 6 | 1.1% | $1.42 | $294.64 | 1.2% | $1,179 | $28,772 | 228.91 |
| 7 | 1.2% | $1.49 | $340.47 | 1.3% | $1,520 | $32,368 | 250.41 |
| 8 | 1.2% | $1.56 | $389.50 | 1.3% | $1,909 | $36,116 | 271.69 |
| 9 | 1.2% | $1.63 | $441.95 | 1.4% | $2,351 | $40,023 | 292.77 |
| 10 | 1.2% | $1.70 | $498.05 | 1.5% | $2,849 | $44,099 | 313.67 |
Year 1-10 dividend income (preview)
Based on a $10,000 initial investment with $200.00 monthly contributions, DRIP on.
Historical dividends per share
Recent dividends
| Ex-date | Cash amount | TTM yield | Fwd yield | Share price |
|---|---|---|---|---|
| 2026-03-25 | $0.26 | 1.3% | 1.0% | $105.50 |
| 2025-12-24 | $0.33 | 1.1% | 1.3% | $105.09 |
| 2025-09-24 | $0.27 | 1.3% | 1.1% | $102.29 |
| 2025-06-25 | $0.28 | 1.3% | 1.1% | $99.18 |
| 2025-03-26 | $0.23 | 1.0% | 0.9% | $101.38 |
| 2024-12-23 | $0.29 | 1.0% | 1.2% | $100.11 |
| 2024-09-25 | $0.26 | 1.0% | 1.0% | $105.35 |
| 2024-06-26 | $0.28 | 1.1% | 1.1% | $96.36 |
| 2024-03-20 | $0.19 | 1.2% | 0.8% | $99.44 |
| 2023-12-20 | $0.33 | 1.4% | 1.4% | $93.15 |
| 2023-09-20 | $0.26 | 1.3% | 1.1% | $91.74 |
| 2023-06-21 | $0.23 | 1.2% | 1.0% | $92.66 |
Source: Polygon.io. Last 12 dividend distributions, most recent first. TTM yield = sum of last 12 months of payments ÷ share price on ex-date. Forward yield = this payment × detected payout frequency ÷ share price on ex-date.
About NOBL
NOBL — the ProShares S&P 500 Dividend Aristocrats ETF — is the canonical vehicle for US Dividend Aristocrats exposure. Issued by ProShares in 2013, NOBL tracks the S&P 500 Dividend Aristocrats Index, which holds the subset of S&P 500 companies that have increased their dividend in each of the last twenty-five consecutive years. The twenty-five-year-streak criterion is the index's single defining constraint: a constituent must be an S&P 500 member, and it must have raised its per-share annual dividend in every one of the last twenty-five fiscal years without exception. A single missed hike — let alone a freeze or a cut — removes a company from the Aristocrats Index at the next rebalance, regardless of how strong the company's underlying business is or how high the current yield is. The Index typically holds around sixty-five names at any time, equal-weighted, with quarterly rebalancing back to equal weights. The Dividend Aristocrats designation has become, over the index's two-decade history, the most-watched dividend-quality benchmark in the US market; constituents are routinely referenced by name across financial media as "Dividend Aristocrats," and NOBL is the ETF wrapper that makes the basket directly investable.
The Dividend Aristocrats concept is worth understanding before treating NOBL as a substitute for other dividend ETFs. The twenty-five-year-streak criterion selects for a very specific kind of company: large-cap US companies whose management teams have prioritized uninterrupted dividend growth through multiple business cycles, including the 2001 dot-com bust, the 2008-09 financial crisis, the 2014-16 energy downturn, and the 2020 COVID demand shock. Surviving each of those windows with a hike intact required either operating cushion strong enough to absorb the shock without cutting capital return, or active management willingness to use the balance sheet to defend the dividend through the trough. The streak-focused criterion is not the same as a current-yield criterion or a quality-screen criterion — the index does not require that a constituent have above-average yield or above-average financial-strength metrics; it requires only that the dividend has been raised every year for twenty-five years. The practical effect is that NOBL's holdings tilt toward mature, durable consumer-staples, industrials, healthcare, and consumer-discretionary names that have prioritized capital-return discipline through cycles — and the forward yield on NOBL runs lower than yield-focused dividend ETFs precisely because the Aristocrat criterion is streak length, not current yield. A holder buying NOBL is buying durability of the growing payout, not the highest current cash yield available.
Many of the broad-dividend names held by individual investors are Aristocrats or "Kings" (fifty-year-streak holders): Coca-Cola, Johnson & Johnson, Procter & Gamble, PepsiCo, Walmart, Caterpillar, Target, Abbott Laboratories, AbbVie (inherits Abbott's streak), Chevron, ExxonMobil, McDonald's, Colgate-Palmolive, Hormel, Sysco, NextEra Energy, and others all carry long active streaks. The practical reading of NOBL is that it is the ETF wrapper around a substantial portion of the durable-dividend-growth large-cap universe — the names that individual income investors most often hold directly as single stocks. A holder evaluating NOBL versus a self-built portfolio of seven-to-fifteen Aristocrat names is choosing between the ETF wrapper (diversification across roughly sixty-five names, equal-weighted, with automatic constituent rotation as new names hit twenty-five-year streaks and existing names lose them) and the direct-hold approach (concentrated in the holder's chosen subset, with no expense ratio drag, but with single-name dividend-cut risk if any held name breaks its streak).
NOBL versus SCHD is the comparison that matters most for investors choosing among quality-oriented dividend ETFs. SCHD's index applies quality screens — return on equity, debt-to-equity, cash flow stability, and a minimum ten-year dividend history — to a broader US dividend universe, then ranks the eligible names by indicated yield and dividend growth, taking the top one hundred. The selection methodology is quality-plus-yield focused, not streak-focused: a SCHD constituent does not need a twenty-five-year hike streak (ten years is the threshold), and a SCHD constituent can be in the basket while still being a lower-streak name with strong quality metrics. The practical effect is that SCHD includes some growthier dividend names that NOBL excludes for not having twenty-five-year streaks (banks and tech-dividend names are the clearest examples), and SCHD's forward yield runs above NOBL's because the methodology weights toward current yield in the final ranking. NOBL excludes those names but includes long-streak Aristocrats that SCHD's quality-and-yield screens may not select. The two funds occupy adjacent but distinct positions: NOBL emphasizes streak durability at moderate yield; SCHD emphasizes quality-plus-current-yield at moderate streak length.
How NOBL pays dividends
NOBL distributes cash dividends quarterly. The ex-dividend date typically falls in the second or third week of March, June, September, and December, with the pay date following a few business days later. The per-share cash amount is the aggregate dividend collected from the equal-weighted basket of roughly sixty-five Aristocrats during the quarter, net of the fund's expense ratio. Because the basket is equal-weighted and rebalanced quarterly back to equal weights, individual holdings that appreciate substantially between rebalances temporarily carry more weight in the distribution calculation until the next rebalance resets them. Over a calendar year, the aggregate distribution is the meaningful figure for income-planning purposes; quarter-to-quarter variation is normal and not a signal of any change in underlying strategy.
NOBL's distributions are composed almost entirely of qualified dividends — income from underlying US large-cap companies that meets the IRS holding-period requirements. For shareholders who also meet the qualified-dividend holding requirement (generally sixty-one days around the ex-date), these distributions are taxed at long-term capital-gains rates rather than ordinary-income rates. This is a meaningful tax advantage for taxable accounts at high marginal brackets, where the spread between qualified-dividend rates and ordinary-income rates is largest. Tax-advantaged accounts (IRA, Roth IRA, 401(k)) shelter the income entirely and the qualified-versus-ordinary distinction is irrelevant inside the wrapper.
The annual distribution has grown across substantially every rolling window since the fund's 2013 inception — which is the structural feature the Aristocrats methodology is designed to deliver. The constituent set, by construction, raises dividends every year; the aggregate basket distribution growth is the equal-weighted average of those constituent-level hikes, which has historically run in the mid-single-digit range — slower than SCHD's quality-screened basket but more reliably positive than higher-yield-tilted baskets. The expense ratio on NOBL is moderate among dividend ETFs — higher than the lowest-cost passive dividend funds (SCHD, VYM, HDV) but consistent with rules-based factor-tilted ETFs. The compounding drag over a multi-decade horizon is meaningfully smaller than for an actively managed product but slightly larger than for the lowest-cost passive alternatives.
Who NOBL suits
NOBL suits investors who specifically want exposure to the twenty-five-year-streak Dividend Aristocrats basket, prioritize dividend-growth durability over current yield level, and prefer the equal-weighted ETF wrapper over a self-built portfolio of individual Aristocrat names. The fund is structurally different from yield-tilted dividend ETFs and from quality-screened-but-shorter-streak ETFs (SCHD) — it is the canonical streak-focused vehicle in the US market, and the methodology produces a basket that maps cleanly onto what many income investors think of as the "blue-chip dividend stocks" universe. The forward yield is moderate; the dividend-growth durability is high; the basket has navigated multiple stress windows with the underlying constituent set continuing to hike through the trough.
For investors who hold individual Aristocrat names directly — Coca-Cola, Procter & Gamble, Johnson & Johnson, PepsiCo, Walmart, Chevron, Caterpillar, Target, Abbott, AbbVie, NextEra, McDonald's, and similar — NOBL is the ETF wrapper around a meaningful portion of that same universe at sixty-five-name equal-weighted breadth. Holding NOBL plus direct positions in a handful of preferred Aristocrats is a common approach for investors who want the diversified Aristocrat basket as a core income holding while overweighting specific names they have higher conviction in. A future hub page covering the full Dividend Aristocrats list — the constituents, the entry-and-exit criteria, the historical streak history of each name — is on the divcalc.io roadmap; for now, the Dividend Aristocrats list can be explored by holding NOBL directly or by referencing S&P's published Aristocrats index methodology.
NOBL is held in both taxable and tax-advantaged accounts. In taxable accounts the qualified-dividend treatment is a real after-tax advantage relative to option-income ETFs (JEPI, JEPQ, MSTY) whose distributions are largely ordinary income or return of capital. In tax-advantaged accounts the wrapper renders distribution-character differences irrelevant, and the choice between NOBL, SCHD, and other quality-oriented dividend ETFs comes down to underlying composition and expected dividend trajectory rather than tax treatment. The dividend calculator on this page can model NOBL using the current forward yield and a modest annual DGR consistent with the fund's historical pattern; the Aristocrat methodology's structural alignment with dividend growth makes a mid-single-digit DGR a defensible base case, with the caveat that the realized growth depends on the forward-window dividend trajectory of the underlying constituent set and not on any guarantee that the historical pattern will continue unchanged.
Hypothetical scenarios
Scenario 1: $50,000 plus $500/month into NOBL over 20 years
Consider a hypothetical accumulation strategy: $50,000 starting capital plus $500 added every month, all in NOBL, with quarterly DRIP enabled. The calculator on this page can model this directly — set Initial investment to $50,000, Extra contribution to $500, Contribution frequency to Monthly, time horizon to 20 years, DRIP on. NOBL's dividend frequency is locked to quarterly on this page, so four annual distributions reinvest into additional shares, and the monthly contributions add to share count at the current price each month.
The mechanics: each month the new $500 buys additional shares, each quarter the dividend received from the accumulated shares is reinvested, and the share count compounds over time. NOBL's starting forward yield typically runs below SCHD, VYM, HDV, SPYD, and SPHD — the Aristocrat criterion is streak length, not current yield, and the eligibility filter excludes higher-yielding names that have shorter hike streaks. The lower starting yield means the share-count compounding from DRIP is slower in the early years of the projection on the same dollar base than a higher-yielding alternative would produce, but the structural offset is that the constituent set, by construction, raises dividends every year — the per-share annual distribution has a structural growth driver that yield-tilted baskets do not necessarily share.
A mid-single-digit annual DGR is a defensible base-case assumption for NOBL, recognizing that the historical pattern has run in that range and the methodology is structurally aligned with continued growth: the Aristocrat universe is, by definition, the set of S&P 500 names that have hiked every year, and the equal-weighted basket's aggregate hike rate is the average of those constituent-level hikes. The output worth focusing on is the per-quarter income figure shown beneath the KPI block — that's roughly what a holder would expect to see deposit into a brokerage account at the end of the horizon under the chosen assumptions, with the caveat that the longer the horizon the more meaningful the dividend-growth assumption becomes for the cumulative outcome. Investors planning around a long horizon should run multiple DGR scenarios to bracket the realistic range; the base case at the historical mid-single-digit growth rate produces one income line, and a more conservative case at a low-single-digit DGR produces a flatter line that may be more defensible if the holder believes future Aristocrat-aggregate hike rates will compress relative to history.
Scenario 2: NOBL versus SCHD — streak focus versus quality-plus-yield focus
Consider the structural comparison between NOBL and SCHD at the same starting capital and contribution pattern: $50,000 plus $500/month over twenty years with quarterly DRIP enabled on both. The two funds occupy the same broad category — quality-oriented US large-cap dividend ETFs — but they apply different selection criteria, which produces different forward yield profiles, different sector mixes, and different historical dividend-growth patterns.
SCHD's quality-plus-yield methodology selects the top one hundred names from a broader US dividend universe based on return on equity, debt-to-equity, cash flow stability, and a minimum ten-year dividend history, then ranks the eligible set by yield and growth. The forward yield on SCHD runs above NOBL's because the methodology weights current yield in the final ranking, and the holding count is one hundred rather than NOBL's sixty-five. SCHD includes some quality dividend names that NOBL excludes for not having twenty-five-year streaks — large-cap financials, energy majors with shorter streaks, and selected tech-dividend names appear in SCHD that do not appear in NOBL. The historical dividend growth on SCHD has run higher than NOBL's on a rolling-five-year basis, in part because the methodology selects for both yield and growth at the time of rebalance.
NOBL's twenty-five-year-streak methodology excludes those higher-yield or growthier names that lack the long active streak and includes long-streak names regardless of current yield level. The forward yield on NOBL runs below SCHD's, and the historical dividend growth has run modestly lower in rolling-five-year windows. The structural advantage NOBL has is the streak-durability of the underlying constituent set: the Aristocrat criterion ensures, by definition, that every name in the basket continues to hike every year — a hard structural feature that SCHD's quality-and-yield methodology does not directly guarantee. In a stress window where some SCHD constituents freeze or cut their dividend, those names exit SCHD at the next rebalance but the freeze itself may register in the basket's aggregate distribution; in the same stress window, an Aristocrat name that fails to hike exits NOBL immediately at the next rebalance, and the basket's aggregate hike rate is preserved at the rebalance date.
The calculator output at the same starting capital, monthly contribution, and horizon — applied separately to NOBL at its lower starting yield with a mid-single-digit DGR, and to SCHD at its higher starting yield with a higher single-digit DGR — produces two income lines that compete on different vectors. SCHD's higher starting yield wins in the early years on absolute cash collected; NOBL's structural growth durability narrows or reverses the gap over longer horizons depending on the realized DGR differential. The cumulative cash collected over a twenty-year window depends on the relative trajectory of the two underlying constituent sets and on whether the holder's forward window includes stress episodes where the streak-criterion durability becomes meaningfully load-bearing.
The honest reading is that NOBL and SCHD make two different bets on the quality-dividend slice of the US large-cap universe. NOBL bets that streak durability beats current yield over multi-decade horizons; SCHD bets that quality-plus-current-yield with shorter streak tolerance beats pure streak focus on cumulative cash collected. Investors who weight streak durability and the Aristocrat designation heavily should weight NOBL more; investors who weight current yield and growth-rate flexibility should weight SCHD more. Many income investors hold both, treating them as complementary positions in the quality-dividend sleeve of a broader portfolio. As always, this content is educational only; the calculator output is a model based on user-supplied inputs, not a forecast of realized future outcomes.
Sources & methodology
Dividend history and price data come from Polygon.io's reference and aggregates endpoints. Forward yield is computed as the sum of the most recent four cash distributions divided by the previous-close share price. The dividend growth rate shown on this page is the compound annual growth rate of total annual distributions across the available history in this snapshot.
Last updated: 2026-05-15.
Information here is for educational purposes only and does not constitute investment advice. Past dividend history does not guarantee future payments. Verify all figures with the issuer or a registered financial advisor before making investment decisions.