Data as of Oct 28, 2026.

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NOBL vs USMV: Differences, Returns & Fees

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Over the year to Oct 28, 2026, NOBL returned +15.5% to USMV's +10.8%; 17% of their weight is in the same names.

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Net assets: $11.6bn on Oct 28, 2026 for ProShares S&P 500 Dividend Aristocrats ETF, and $24.1bn on Oct 27, 2026 for iShares MSCI USA Min Vol Factor ETF.

At a glance
+15.5%
NOBL total return, 1 year
+10.8%
USMV total return, 1 year
0.35%
NOBL expense ratio
0.15%
USMV expense ratio

Pair scorecard

USMV costs 0.20 points a year less; their one-year returns differ by 4.7 points; USMV is 2.1 times larger.

NOBL vs USMV: Differences, Returns & Fees
MeasureNOBLUSMV
Return
Total return, 1 year+15.5%+10.8%
Benchmark
What it tracksS&P 500 Dividend Aristocrats IndexMSCI USA Minimum Volatility (USD) Index
Cost and size
Expense ratio0.35%0.15%
Net assets, as of Oct 27, 2026$11.7bn$24.1bn
Holdings
Holdings in common17%
Top ten holdings, share of the fund17.0%14.8%

Holdings in common uses holdings dated Oct 27, 2026. Method

Risk and return

Oct 18, 2013 to Oct 23, 2026 · 679 weekly returns
NOBL USMV
Return
Total return edge USMV (slight) +264.8% +280.7%
Annualized edge USMV (slight) +10.4% +10.8%
Price return edge USMV +179.1% +199.4%
Risk
Volatility edge USMV 15.4% 13.8%
Max drawdown edge USMV (slight) −31.7% −30.6%
Risk-adjusted
Sharpe edge USMV 0.59 0.67
Sortino edge USMV 0.84 0.95
Calmar edge USMV (slight) 0.33 0.35
Reading

USMV returned slightly more: +280.7% to +264.8%. USMV swung less: 13.8% to 15.4%. USMV fell slightly less at its worst: −30.6% to −31.7%.

Full scorecard

9 measures, with how each is measured
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Risk and return: NOBL vs USMV: Differences, Returns & Fees
MeasureNOBLUSMVEdgeHow it is measured
Return
Total return+264.8%+280.7%USMV (slight)Price change plus distributions, reinvested.
Annualized+10.4%+10.8%USMV (slight)Total return as a yearly rate.
Price return+179.1%+199.4%USMVPrice change alone, distributions left out.
Risk
Volatility15.4%13.8%USMVSpread of weekly returns, annualized. Lower is steadier.
Downside deviation10.8%9.7%USMVLike volatility, counting only weeks below the Treasury bill rate.
Max drawdown−31.7%−30.6%USMV (slight)Deepest fall from a high to the low after it.
Risk-adjusted
Sharpe0.590.67USMVReturn above Treasury bills per unit of volatility.
Sortino0.840.95USMVReturn above Treasury bills per unit of downside deviation.
Calmar0.330.35USMV (slight)Annualized return divided by the max drawdown.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 679 weekly returns. Cash rate: the 13-week Treasury bill.

What they share

17%

By the books each fund has filed, NOBL and USMV hold 17% of their money in the same securities at the same weight. Holdings dated Oct 27, 2026.

0 half 100%

half

17% in common

Positions both hold · largest shared weight first NOBL USMV
EXXONMOBIL HOLDINGS CORP 1.63% 1.54%
CHUBB LTD 1.45% 1.50%
JOHNSON & JOHNSON 1.47% 1.44%
COCA-COLA CO 1.55% 1.28%
CONSOLIDATED EDISON INC 1.44% 1.25%
ROPER TECHNOLOGIES INC 1.81% 1.12%
PROCTER & GAMBLE CO 1.50% 1.10%
MCDONALD'S CORP 1.33% 0.98%
COLGATE-PALMOLIVE CO 1.41% 0.89%
PEPSICO INC 1.38% 0.79%
ABBVIE INC 1.58% 0.78%
WALMART INC 1.53% 0.73%
Only in one fund ↓
Only in NOBL
BECTON DICKINSON AND CO 1.78%
FACTSET RESEARCH SYSTEMS INC 1.77%
EMERSON ELECTRIC CO 1.67%
ERIE INDEMNITY COMPANY-CL A 1.64%
NUCOR CORP 1.61%
FASTENAL CO 1.59%
EXPEDITORS INTL WASH INC 1.58%
NORDSON CORP 1.56%
Only in USMV
MICROSOFT 1.61%
BERKSHIRE HATHAWAY INC CLASS B 1.50%
MOTOROLA SOLUTIONS INC 1.48%
AMPHENOL CORP CLASS A 1.47%
NVIDIA 1.47%
MCKESSON CORP 1.43%
WELLTOWER 1.41%
DUKE ENERGY CORP 1.38%
Check overlap with more funds →

Side by side

NOBL ProShares S&P 500 Dividend Aristocrats ETF USMV iShares MSCI USA Min Vol Factor ETF
Where it sits Stock ETF Stock ETF
What it is Tracks the S&P 500 Dividend Aristocrats Tracks the MSCI USA Min Vol Factor
Total return, 1 year +15.5% +10.8%
Expense ratio 0.35% 0.15%
Already in the S&P 500 98.3% 93.0%
Holdings 69 176
Net assets, NOBL as of Oct 28, 2026 and USMV as of Oct 27, 2026 $11.6bn $24.1bn

NOBL and USMV on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.

Client brief · page 1 of 2 Report BR-F533A477FD

NOBL and USMV do different jobs. What does each one do in a portfolio?

  1. What each follows. NOBL follows S&P 500 Dividend Aristocrats Index and USMV follows MSCI USA Minimum Volatility (USD) Index.
  2. Holdings in common. 17% of the weight is in the same securities (holdings dated Oct 27, 2026).
  3. One-year total return. Over 1 year to Oct 28, 2026 NOBL returned +15.5% and USMV +10.8% with distributions reinvested, a gap of 4.7 points.

Data as of Oct 28, 2026.

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About each fund
NOBL

NOBL tracks the S&P 500 Dividend Aristocrats. Over the year to Oct 28, 2026 it returned +15.5% with distributions reinvested. The prospectus expense ratio is 0.35% a year. By its holdings published by its issuer for Oct 27, 2026, 98% of the fund by weight is stocks the S&P 500 also holds, across 69 positions, with the top ten at 17.0%.

USMV

USMV tracks the MSCI USA Min Vol Factor. Over the year to Oct 28, 2026 it returned +10.8% with distributions reinvested. The prospectus expense ratio is 0.15% a year. By its holdings published by its issuer for Oct 27, 2026, 93% of the fund by weight is stocks the S&P 500 also holds, across 176 positions, with the top ten at 14.8%.

Questions people ask

Which returned more over the last year, NOBL or USMV?
In the year to Oct 28, 2026, with distributions reinvested, NOBL returned +15.5% and USMV +10.8%.
Which is cheaper, NOBL or USMV?
USMV is cheaper, by 0.20 percentage points a year. That is about $20 on $10,000 held for a year. Fees come from each fund's prospectus.
How much do NOBL and USMV overlap with the S&P 500?
By their latest filed holdings, 98% of NOBL and 93% of USMV by weight is stocks the S&P 500 already holds.
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ETFIQ, NOBL against USMV, data as of Oct 28, 2026. https://etfiq.com/compare/any/nobl-vs-usmv

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