Fidelity (FDVV) vs. ProShares (NOBL): Which Dividend ETF Reigns Supreme?

Core Insights - The key differences between ProShares S&P 500 Dividend Aristocrats® ETF (NOBL) and Fidelity High Dividend ETF (FDVV) are based on cost, yield, recent performance, and sector exposure [1][2] Cost and Size Comparison - NOBL has an expense ratio of 0.35%, while FDVV has a lower expense ratio of 0.15% [3][4] - As of March 2026, NOBL's one-year return is 8.6%, compared to FDVV's 16.5% [3] - NOBL offers a dividend yield of 1.94%, whereas FDVV provides a higher yield of 2.77% [3][4] - NOBL has assets under management (AUM) of $12.01 billion, while FDVV has $8.86 billion [3] Performance and Risk Comparison - Over the past five years, NOBL experienced a maximum drawdown of -17.92%, while FDVV had a drawdown of -20.17% [5] - An investment of $1,000 in NOBL would have grown to $1,396 over five years, compared to $1,858 for FDVV [5] Portfolio Composition - FDVV holds 107 stocks with a portfolio heavily weighted towards technology (25%), financial services (17%), and consumer cyclical (16%), featuring top holdings like Nvidia, Apple, and Microsoft [6] - NOBL invests in 70 S&P 500 companies with at least 25 consecutive years of dividend growth, capping sector weights at 30%. Its largest allocations are in consumer defensive (25%), industrials (20%), and financial services (12%), with top holdings including Target, Johnson & Johnson, and Chevron [7] Investment Implications - Over the last decade, the S&P 500 has delivered total returns of 14.4% annually, which outpaces FDVV's 12.7% and NOBL's 9.8% [8] - Despite the perceived underperformance, both FDVV and NOBL are considered attractive ETFs for dividend investors [8]