NOBL vs. DGRW

Last updated Jun 4, 2026

NOBL (ProShares S&P 500 Dividend Aristocrats ETF) and DGRW (WisdomTree U.S. Quality Dividend Growth Fund) are both Dividend funds - NOBL tracks the S&P 500 Dividend Aristocrats Index while DGRW tracks the WisdomTree U.S. Quality Dividend Growth Index. Both are passively managed. Over the past 10 years, NOBL returned 9.51%/yr vs 14.15%/yr for DGRW. Their correlation of 0.87 suggests significant overlap in exposure. NOBL charges 0.35%/yr vs 0.28%/yr for DGRW.

Performance

NOBL vs. DGRW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares S&P 500 Dividend Aristocrats ETF (NOBL) and WisdomTree U.S. Quality Dividend Growth Fund (DGRW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NOBL achieves a 3.51% return, which is significantly lower than DGRW's 9.10% return. Over the past 10 years, NOBL has underperformed DGRW with an annualized return of 9.51%, while DGRW has yielded a comparatively higher 14.15% annualized return.

NOBL

• 1D: -0.17%
• 1M: 1.01%
• YTD: 3.51%
• 6M: 3.45%
• 1Y: 9.00%
• 3Y*: 8.01%
• 5Y*: 5.03%
• 10Y*: 9.51%

DGRW

• 1D: -0.83%
• 1M: 4.06%
• YTD: 9.10%
• 6M: 8.62%
• 1Y: 20.79%
• 3Y*: 16.64%
• 5Y*: 12.17%
• 10Y*: 14.15%

*Multi-year figures are annualized to reflect compound growth (CAGR)

NOBL vs. DGRW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NOBL ProShares S&P 500 Dividend Aristocrats ETF	3.51%	6.84%	6.72%	8.09%	-6.52%	25.46%	8.35%	27.39%	-3.26%	21.02%
DGRW WisdomTree U.S. Quality Dividend Growth Fund	9.10%	12.17%	16.98%	18.66%	-6.33%	24.46%	13.87%	29.54%	-5.38%	26.90%

Correlation

The correlation between NOBL and DGRW is 0.65, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.65
Correlation (3Y) Calculated over the trailing 3-year period	0.74
Correlation (5Y) Calculated over the trailing 5-year period	0.83
Correlation (10Y) Calculated over the trailing 10-year period	0.86
Correlation (All Time) Calculated using the full available price history since Oct 11, 2013	0.87

Over the past year, the correlation between NOBL and DGRW has dropped to 0.65 - well below their long-term average of 0.87, suggesting their price drivers have been diverging.

NOBL vs. DGRW - Sectors Allocation Comparison

Sectors	NOBL	DGRW
Consumer Defensive	23.5%	6.7%
Industrials	20.3%	9.9%
Financial Services	12.4%	11.3%
Basic Materials	10.9%	3.3%
Healthcare	9.7%	12.8%
Utilities	6.4%	0.2%
Consumer Cyclical	5.1%	7.1%
Real Estate	4.6%	-
Technology	3.6%	32.1%
Energy	3.4%	5.0%
Communication Services	-	10.1%

Return for Risk

NOBL vs. DGRW — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

NOBL

NOBL Risk / Return Rank: 22
NOBL Sharpe Ratio Rank: 22
NOBL Sortino Ratio Rank: 23
NOBL Omega Ratio Rank: 20
NOBL Calmar Ratio Rank: 22
NOBL Martin Ratio Rank: 21

DGRW

DGRW Risk / Return Rank: 60
DGRW Sharpe Ratio Rank: 61
DGRW Sortino Ratio Rank: 65
DGRW Omega Ratio Rank: 63
DGRW Calmar Ratio Rank: 50
DGRW Martin Ratio Rank: 61

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

NOBL vs. DGRW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares S&P 500 Dividend Aristocrats ETF (NOBL) and WisdomTree U.S. Quality Dividend Growth Fund (DGRW). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	NOBL	DGRW	Difference
Sharpe ratio: Return per unit of total volatility	0.80	2.12	-1.32
Sortino ratio: Return per unit of downside risk	1.24	3.09	-1.84
Omega ratio: Gain probability vs. loss probability	1.14	1.39	-0.25
Calmar ratio: Return relative to maximum drawdown	0.99	2.52	-1.52
Martin ratio: Return relative to average drawdown	2.58	11.03	-8.45
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NOBL vs. DGRW - Sharpe Ratio Comparison

The current NOBL Sharpe Ratio is 0.80, which is lower than the DGRW Sharpe Ratio of 2.12. The chart below compares the historical Sharpe Ratios of NOBL and DGRW, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	NOBL	DGRW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.80	2.12	-1.32
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.35	0.88	-0.52
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.57	0.88	-0.30
Sharpe Ratio (All Time) Calculated using the full available price history	0.64	0.86	-0.21

Drawdowns

NOBL vs. DGRW - Drawdown Comparison

The maximum NOBL drawdown since its inception was -35.43%, which is greater than DGRW's maximum drawdown of -32.04%. Use the drawdown chart below to compare losses from any high point for NOBL and DGRW.

Drawdown Indicators

	NOBL	DGRW	Difference
Max Drawdown Largest peak-to-trough decline	-35.43%	-32.04%	-3.39%
Max Drawdown (1Y) Largest decline over 1 year	-9.11%	-8.30%	-0.81%
Max Drawdown (3Y) Largest decline over 3 years	-15.36%	-16.21%	+0.85%
Max Drawdown (5Y) Largest decline over 5 years	-17.92%	-17.27%	-0.65%
Max Drawdown (10Y) Largest decline over 10 years	-35.43%	-32.04%	-3.39%
Current Drawdown Current decline from peak	-5.99%	-0.83%	-5.16%
Average Drawdown Average peak-to-trough decline	-3.48%	-3.01%	-0.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.50%	1.89%	+1.61%

Volatility

NOBL vs. DGRW - Volatility Comparison

ProShares S&P 500 Dividend Aristocrats ETF (NOBL) and WisdomTree U.S. Quality Dividend Growth Fund (DGRW) have volatilities of 2.36% and 2.47%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NOBL	DGRW	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.36%	2.47%	-0.11%
Volatility (6M) Calculated over the trailing 6-month period	8.00%	7.64%	+0.36%
Volatility (1Y) Calculated over the trailing 1-year period	11.33%	9.88%	+1.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.38%	13.97%	+0.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.60%	16.21%	+0.39%

NOBL vs. DGRW - Expense Ratio Comparison

NOBL has a 0.35% expense ratio, which is higher than DGRW's 0.28% expense ratio.

Dividends

NOBL vs. DGRW - Dividend Comparison

NOBL's dividend yield for the trailing twelve months is around 2.12%, more than DGRW's 1.27% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DGRW WisdomTree U.S. Quality Dividend Growth Fund	1.27%	1.43%	1.55%	1.74%	2.15%	1.78%	1.93%	2.20%	2.42%	1.71%	2.13%	2.18%
NOBL ProShares S&P 500 Dividend Aristocrats ETF	2.12%	2.14%	2.05%	2.09%	1.94%	1.89%	2.14%	1.89%	2.37%	1.74%	2.13%	2.02%

Frequently Asked Questions

Can I hold both NOBL and DGRW in my portfolio?

NOBL and DGRW have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NOBL or DGRW?

DGRW has higher volatility (2.47%) compared to NOBL (2.36%). In terms of maximum drawdown, NOBL dropped -35.43% vs DGRW's -32.04%.

Which ETF is better, NOBL or DGRW?

On 10-year performance, DGRW leads with 14.15% vs 9.51% for NOBL. On fees, DGRW is cheaper at 0.28% per year. On volatility, NOBL has been the lower-risk option at 2.36%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NOBL or DGRW?

Over the 10-year period, DGRW has performed better with a 14.15% return vs 9.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NOBL or DGRW?

DGRW is cheaper with a 0.28% expense ratio, compared with 0.35% for NOBL.

Which ETF pays a higher dividend yield, NOBL or DGRW?

NOBL has the higher dividend yield at 2.12%, compared with 1.27% for DGRW.

What is the main difference between NOBL and DGRW?

NOBL tracks S&P 500 Dividend Aristocrats Index, while DGRW tracks WisdomTree U.S. Quality Dividend Growth Index. They also come from different issuers: ProShares and WisdomTree. Their fees differ too: 0.35% for NOBL and 0.28% for DGRW.

Which has better risk-adjusted returns?

DGRW currently has the higher Sharpe Ratio (2.12 vs 0.80), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.