# NOBL vs SCHD: fees, holdings and returns compared

> NOBL vs SCHD: what each ETF holds, what it costs, and how both did over the same dates, with yearly returns and worst drops.

NOBL holds the S&P 500 companies that have raised their dividends every year for at least 25 years, about 70, each at about the same weight. SCHD holds about 100 US companies picked for steady dividends and strong finances. SCHD pays more and charges far less. Over the same dates since October 2013, NOBL returned about 10.5% a year and SCHD returned about 12.6% a year.

Written by [the Tactfolio research team](https://tactfolio.com/about/editorial-policy). Fund facts checked October 17, 2026. Prices through October 20, 2026.

## Key points

- SCHD costs less: 0.06% a year against 0.35%.
- NOBL started trading in October 2013. SCHD started in October 2011.
- Worst drops since 2013: NOBL −35.4%, SCHD −33.4%.
- Daily correlation: 0.95 (1 means they always move together).

## What is the difference between NOBL and SCHD?

NOBL looks only at the length of the record: 25 years of raises. It gives each company the same weight, so smaller aristocrats count as much as large ones. SCHD needs 10 years of dividends and ranks companies on quality and yield, weighted by size. NOBL's fee is several times SCHD's.

| Fact | NOBL | SCHD |
| --- | --- | --- |
| Full name | ProShares S&P 500 Dividend Aristocrats ETF | Schwab U.S. Dividend Equity ETF |
| Issuer | ProShares | Schwab |
| Expense ratio | 0.35% a year | 0.06% a year |
| Started trading | October 9, 2013 | October 20, 2011 |
| Tracks | S&P 500 Dividend Aristocrats Index | Dow Jones U.S. Dividend 100 Index |
| Holdings | 71 holdings as of August 31, 2026 | 98 holdings as of February 28, 2026 |
| Type | US stocks, ETF | US stocks, ETF |

Fund facts checked on the [ProShares NOBL page](https://www.proshares.com/our-etfs/strategic/nobl) and the [Schwab SCHD page](https://www.sec.gov/Archives/edgar/data/1454889/000110465926020681/tm266454-15_497k.htm).

## Is NOBL or SCHD cheaper?

SCHD costs less: 0.06% a year against 0.35%. On $10,000, that is about $35 a year for NOBL and $6 for SCHD. The fund takes its fee out of its own value a little each day, so you never get a bill.

## NOBL vs SCHD performance over the same dates

Both funds are measured from October 2013 to October 2026, the dates both traded. NOBL returned about 10.5% a year and SCHD returned about 12.6% a year. SCHD came out ahead over this period, which does not mean it will again.

| Measure | NOBL | SCHD |
| --- | --- | --- |
| $10,000 grew to | $36,876 | $46,873 |
| Total return | 268.8% | 368.7% |
| Return per year (CAGR) | 10.5% | 12.6% |
| Worst drop from a high | −35.4% | −33.4% |
| Volatility (how much it swings) | 15.8% | 15.8% |
| Last 12 months | 14.1% | 33.0% |
| Last 3 years, per year | 12.7% | 18.8% |
| Last 5 years, per year | 6.6% | 9.7% |
| Last 10 years, per year | 10.5% | 13.5% |

Prices through October 20, 2026. Figures use daily closing prices adjusted for splits, with dividends reinvested. They do not include taxes or the cost of buying and selling. Past results do not tell you what will happen next.

## NOBL and SCHD returns by year

| Year | NOBL | SCHD |
| --- | --- | --- |
| 2026 (part of the year) | 12.2% | 29.6% |
| 2025 | 6.8% | 4.3% |
| 2024 | 6.7% | 11.7% |
| 2023 | 8.1% | 4.5% |
| 2022 | −6.5% | −3.3% |
| 2021 | 25.5% | 29.9% |
| 2020 | 8.3% | 15.0% |
| 2019 | 27.4% | 27.3% |
| 2018 | −3.3% | −5.6% |
| 2017 | 21.0% | 20.8% |
| 2016 | 11.7% | 16.4% |
| 2015 | 0.4% | −0.3% |
| 2014 | 15.6% | 11.7% |
| 2013 (part of the year) | 8.6% | 9.1% |

## Which fell further in bad times?

A drawdown is how far a fund falls from its last high point. NOBL's worst fall was −35.4%, from January 17, 2020 to March 23, 2020. It got back to that high on October 8, 2020.

SCHD's worst fall was −33.4%, from January 23, 2020 to March 23, 2020. It got back to that high on September 2, 2020.

Their daily moves had a correlation of 0.95. A correlation of 1 means two funds always move up and down together. Near 0 means they move on their own. So holding both adds little variety.

## Why people choose NOBL or SCHD

**NOBL.** People who want companies with the longest records of raising dividends, held evenly, tend to pick NOBL.

**SCHD.** People who want higher dividends from strong companies at a very low fee tend to pick SCHD.

## Strategies that hold NOBL or SCHD

No classic strategy holds NOBL or SCHD yet.

## Other funds like NOBL and SCHD

Each fund has more funds that hold the same kind of investments, ranked by how closely they move with it: [NOBL alternatives](https://tactfolio.com/alternatives/NOBL.md) and [SCHD alternatives](https://tactfolio.com/alternatives/SCHD.md).

## Test a mix of NOBL and SCHD

Open the [builder](https://tactfolio.com/builder), add NOBL and SCHD, and give each a weight, such as 50% and 50%. The backtest shows how the mix would have done, with its worst drop, on daily prices. You can also add a rule, for example to switch between them, and compare. Read the full pages for [NOBL](https://tactfolio.com/etf/NOBL.md) and [SCHD](https://tactfolio.com/etf/SCHD.md), or see [more ETF comparisons](https://tactfolio.com/etf-comparisons.md).

## The details

Both funds use Tactfolio's stored daily prices, adjusted for splits, with dividends reinvested. They are compared only on days both traded, starting the later fund's first day, so neither gets a head start. Correlation uses daily returns over the same days. Read [what a backtest simulates](https://tactfolio.com/docs/backtests.md) for more on these measures.

## Research and test it

- [Dividend calculator](https://tactfolio.com/trading-tools/dividend-calculator): See the income your shares could pay over the years, with or without reinvesting (DRIP), with the formula and an example.
- [S&P 500 index](https://tactfolio.com/learn/sp500-index): The S&P 500 tracks about 500 large US companies. Learn how stocks get in, how the index is weighted, how to invest in it, and how far it has fallen before.
- [What is an ETF](https://tactfolio.com/learn/what-is-an-etf): An ETF is a fund that trades like a stock. Learn how ETFs work, what they cost, the main types, and the risks, with SEC sources.
- [ETF screener](https://tactfolio.com/screener.md): A free ETF screener for 162 US-listed funds. Filter by type, issuer and fee, sort by returns or worst drop, and compare funds side by side.
- [ETF expense ratio](https://tactfolio.com/learn/etf-expense-ratio): What an ETF expense ratio is, how the fund charges it, and how 0.03% vs 1% adds up over 10 and 30 years, with real fund examples.
- [Backtest a portfolio](https://tactfolio.com/trading-tools/backtest-portfolio): Backtest a portfolio of US stocks and ETFs. Enter tickers and shares, pick when to rebalance, and get the results with a link to share.

## Common questions

### What is a Dividend Aristocrat?

An S&P 500 company that has raised its dividend every year for at least 25 years. The list changes when a company cuts its dividend or leaves the index.

### Why is NOBL's fee higher than SCHD's?

Funds price themselves differently. The fee line above shows both, and the date we checked them.

### Which is cheaper, NOBL or SCHD?

SCHD costs less: 0.06% a year against 0.35%. Fees come from each issuer and were checked on October 17, 2026.

### Which did better, NOBL or SCHD?

From October 2013 to October 2026, NOBL returned about 10.5% a year and SCHD returned about 12.6% a year, with dividends reinvested. Their worst drops were −35.4% and −33.4%. Past returns do not tell you what comes next.

## Sources

- [ProShares: ProShares S&P 500 Dividend Aristocrats ETF fund page](https://www.proshares.com/our-etfs/strategic/nobl)
- [Schwab: Schwab U.S. Dividend Equity ETF fund page](https://www.sec.gov/Archives/edgar/data/1454889/000110465926020681/tm266454-15_497k.htm)

> Not financial advice. Tactfolio is a research and automation tool. It is not a broker or a financial adviser. This page is for education only. Backtests are hypothetical. They show how rules would have done on past prices, not how they will do. All investing involves risk, including losing the money you put in.