Your Dividend Aristocrats ETF Trails This Quality Fund Over Ten Years
NOBL screens for companies with decades of rising dividends, which sounds like exactly the right filter for finding durable businesses. But a rival ETF with a completely different selection process has quietly compounded far more wealth over the same period.
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.
If you own the ProShares S&P 500 Dividend Aristocrats ETF (CBOE:NOBL), you probably bought it because a long record of dividend increases is a reliable test of a durable, well-run business. NOBL runs that test across the S&P 500 and gives you the companies that pass in one ticker. Over the ten years beginning November 4, 2016, NOBL returned 192.88% with distributions reinvested, so a $100,000 position grew to $292,880. Over the identical window, the Invesco S&P 500 Quality ETF (NYSEARCA:SPHQ) returned 298.78%, also with distributions reinvested, and the same $100,000 became $398,780. The difference comes to a 105.9-percentage-point gap from the same starting date.
Five-Year Returns Back the Quality Fund
A single decade can hide one lucky stretch, so check a shorter window. Over the five years beginning November 3, 2021, SPHQ returned 71.35% against NOBL’s 41.37%, a gap of 29.98 percentage points.
$100,000 in SPHQ became $171,350, while the same amount in NOBL became $141,370. When the real goal is holding strong companies and building wealth, the quality screen has delivered more of that over both long windows.
Recent Returns Favor the Aristocrats
The recent record points the other way, and it deserves real weight. Over the past year, NOBL returned 22.07% against SPHQ’s 13.48%, putting the Aristocrats fund ahead by 8.59 percentage points. Anyone who bought SPHQ a year ago has trailed NOBL holders.
Year-to-date, NOBL leads 18.43% to 11.65%, a gap of 6.78 percentage points. The past month extended it further. NOBL rose sharply, gaining 11.75%, while SPHQ fell 2.03%, a 13.78-percentage-point swing in the Aristocrats fund’s favor. As of the Monday, November 2 close, NOBL traded at $60.68 and SPHQ at $83.14.
A switch today means selling the fund that has led for the past year. The case for SPHQ over time stands, and it rests on multiyear results.
Two Funds Built for Different Goals
According to its September 28, 2026 summary prospectus, the ProShares fund aims to follow the S&P 500 Dividend Aristocrats Index, which measures S&P 500 companies that have consistently increased dividends each year over a long stretch. Its strategy centers on the dividend record itself.
The Invesco fund aims to follow the S&P 500 Quality Index and generally invests at least 90% of its total assets in that index’s securities. The index picks S&P 500 stocks using quality factors. SPHQ pays quarterly distributions, but it is a quality fund with no dividend strategy. A reader who specifically wants dividend income or a rising dividend stream will not get the same thing from SPHQ, and should consider that before chasing the ten-year gap.
How to Switch Without a Tax Surprise
Where you hold NOBL matters more than any return figure:
- IRA, Roth IRA, or 401(k): Selling NOBL and buying SPHQ triggers no tax. The cost is a trading spread and the risk of buying into the recent laggard.
- Taxable brokerage account: Selling NOBL realizes any gain you have built. Shares kept more than a year qualify for long-term capital gains rates, while shares held a year or less face ordinary income rates. Specific lot identification lets an investor sell the highest-cost shares first.
- Gradual path: One option is turning off automatic dividend reinvestment in NOBL and routing those distributions, along with new contributions, into SPHQ. This changes your mix over time without selling appreciated shares.
- Split approach: Some investors keep NOBL as a dividend-growth allocation and add SPHQ as a quality core. You keep the income profile you chose while gaining exposure to the fund with the stronger ten-year and five-year record.
Whichever path you take, compare both funds’ current fee and distribution details on the issuers’ sites before placing a trade.
Which Investor Each Fund Fits Best
If your horizon runs ten years or longer and you hold NOBL as a way to own high-quality companies, SPHQ has the stronger long-run record. When you hold NOBL for a growing dividend stream, or you need the money within a few years, NOBL’s dividend strategy and recent lead may align more closely with those goals. The past year shows SPHQ can trail for extended stretches, and short horizons leave little time to recover from that.
Contact [email protected] for any questions or corrections.
Ryne Mauck is an investment writer covering exchange-traded funds, retirement planning, and portfolio strategy. Through his work at 24/7 Wall St. and other investment platforms, including Seeking Alpha, he aims to provide clear, research-driven insights that help investors make more informed decisions while maintaining a long-term approach to investing.
Ryne holds a B.Sc. in Finance and an M.A. in Political Science. He is a formerly registered Municipal Advisor Representative and has passed the Series 50, Series 63, and Series 65 exams. His articles are not intended to be, nor should they be interpreted as, financial advice.
