Which returned more over the last year, NOBL or VOE?

In the year to Oct 28, 2026, with distributions reinvested, NOBL returned +15.5% and VOE +22.8%.

Which is cheaper, NOBL or VOE?

VOE is cheaper, by 0.30 percentage points a year. That is about $30 on $10,000 held for a year. Fees come from each fund's prospectus.

How much do NOBL and VOE overlap with the S&P 500?

By their latest filed holdings, 98% of NOBL and 96% of VOE by weight is stocks the S&P 500 already holds.

Data as of Oct 28, 2026.

Across categories

NOBL vs VOE: Differences, Returns & Fees

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Over the year to Oct 28, 2026, NOBL returned +15.5% to VOE's +22.8%; 12% 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 $22.8bn on Sep 30, 2026 for Vanguard Morningstar Mid-Cap Value ETF.

NOBL on its own →VOE on its own →

At a glance

+15.5%

NOBL total return, 1 year

+22.8%

VOE total return, 1 year

0.35%

NOBL expense ratio

0.05%

VOE expense ratio

Pair scorecard

VOE costs 0.30 points a year less; their one-year returns differ by 7.3 points; VOE is 2.1 times larger.

NOBL vs VOE: Differences, Returns & Fees
Measure	NOBL	VOE
Return
Measure	NOBL	VOE
Total return, 1 year	+15.5%	+22.8%
Benchmark
Measure	NOBL	VOE
What it tracks	S&P 500 Dividend Aristocrats Index	Morningstar US Mid Cap Value Index
Cost and size
Measure	NOBL	VOE
Expense ratio	0.35%	0.05%
Net assets, as of Sep 30, 2026	$10.9bn	$22.8bn
Holdings
Measure	NOBL	VOE
Holdings in common	12%
Top ten holdings, share of the fund	17.0%	14.0%

Holdings in common uses holdings dated Sep 30, 2026 and Oct 27, 2026. Method

Risk and return

Oct 18, 2013 to Oct 23, 2026 · 679 weekly returns

NOBL VOE

Return

Total return edge Tie +264.8% +264.9%

Annualized edge Tie +10.4% +10.4%

Price return edge NOBL (slight) +179.1% +172.7%

Risk

Volatility edge NOBL 15.4% 17.9%

Max drawdown edge NOBL −31.7% −40.6%

Risk-adjusted

Sharpe edge NOBL 0.59 0.53

Sortino edge NOBL 0.84 0.76

Calmar edge NOBL 0.33 0.26

Reading

NOBL and VOE returned about the same: +264.8% and +264.9%. NOBL swung less: 15.4% to 17.9%. NOBL fell less at its worst: −31.7% to −40.6%.

Full scorecard

9 measures, with how each is measured Open ↓

Risk and return: NOBL vs VOE: Differences, Returns & Fees
Measure	NOBL	VOE	Edge	How it is measured
Return
Total return	+264.8%	+264.9%	Tie	Price change plus distributions, reinvested.
Annualized	+10.4%	+10.4%	Tie	Total return as a yearly rate.
Price return	+179.1%	+172.7%	NOBL (slight)	Price change alone, distributions left out.
Risk
Volatility	15.4%	17.9%	NOBL	Spread of weekly returns, annualized. Lower is steadier.
Downside deviation	10.8%	12.6%	NOBL	Like volatility, counting only weeks below the Treasury bill rate.
Max drawdown	−31.7%	−40.6%	NOBL	Deepest fall from a high to the low after it.
Risk-adjusted
Sharpe	0.59	0.53	NOBL	Return above Treasury bills per unit of volatility.
Sortino	0.84	0.76	NOBL	Return above Treasury bills per unit of downside deviation.
Calmar	0.33	0.26	NOBL	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

12%

By the books each fund has filed, NOBL and VOE hold 12% of their money in the same securities at the same weight. Holdings dated Sep 30, 2026 and Oct 27, 2026.

50%

0 half 100%

half

12% in common

Positions both hold · largest shared weight first NOBL VOE

TARGET CORP 1.50% 1.21%

AIR PRODUCTS & CHEMICALS INC 1.45% 1.05%

NUCOR CORP 1.61% 0.90%

CARDINAL HEALTH INC 1.57% 0.88%

AFLAC INC 1.38% 0.86%

BECTON DICKINSON AND CO 1.78% 0.83%

ARCHER-DANIELS-MIDLAND CO 1.25% 0.65%

CONSOLIDATED EDISON INC 1.44% 0.64%

SYSCO CORP 1.40% 0.63%

ROPER TECHNOLOGIES INC 1.81% 0.59%

COLGATE-PALMOLIVE CO 1.41% 0.58%

KENVUE INC 1.42% 0.58%

Only in one fund ↓

Only in NOBL

FACTSET RESEARCH SYSTEMS INC 1.77%

INTL BUSINESS MACHINES CORP 1.70%

AUTOMATIC DATA PROCESSING 1.69%

EMERSON ELECTRIC CO 1.67%

CHEVRON CORP 1.66%

ERIE INDEMNITY COMPANY-CL A 1.64%

EXXONMOBIL HOLDINGS CORP 1.63%

MEDTRONIC PLC 1.61%

Only in VOE

Valero Energy Corp 1.90%

Marathon Petroleum Corp 1.89%

Phillips 66 1.73%

Hewlett Packard Enterprise Co 1.37%

Warner Bros Discovery Inc 1.25%

SLB Ltd 1.23%

Cummins Inc 1.21%

General Motors Co 1.15%

Check overlap with more funds →

Side by side

NOBL ProShares S&P 500 Dividend Aristocrats ETF VOE Vanguard Morningstar Mid-Cap Value ETF

Where it sits Stock ETF Stock ETF

Issuer ProShares Vanguard

What it is Tracks the S&P 500 Dividend Aristocrats Tracks an index of Mid-Cap Value

Total return, 1 year +15.5% +22.8%

Expense ratio 0.35% 0.05%

Already in the S&P 500 98.3% 96.0%

Holdings 69 169

Net assets, NOBL as of Oct 28, 2026 and VOE as of Sep 30, 2026 $11.6bn $22.8bn

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

Client brief · page 1 of 2 Report BR-D270EFB6B1

NOBL and VOE are built for the same job. How do they differ in cost, holdings and results?

What each follows. NOBL follows S&P 500 Dividend Aristocrats Index and VOE follows Morningstar US Mid Cap Value Index.
Holdings in common. 12% of the weight is in the same securities (holdings dated Oct 27, 2026 and Sep 30, 2026).
One-year total return. Over 1 year to Oct 28, 2026 NOBL returned +15.5% and VOE +22.8% with distributions reinvested, a gap of 7.3 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%.

VOE

VOE tracks an index of Mid-Cap Value. Over the year to Oct 28, 2026 it returned +22.8% with distributions reinvested. The prospectus expense ratio is 0.05% a year. By its holdings published by its issuer as of Sep 30, 2026, 96% of the fund by weight is stocks the S&P 500 also holds, across 169 positions, with the top ten at 14.0%.

Questions people ask

Which returned more over the last year, NOBL or VOE?: In the year to Oct 28, 2026, with distributions reinvested, NOBL returned +15.5% and VOE +22.8%.
Which is cheaper, NOBL or VOE?: VOE is cheaper, by 0.30 percentage points a year. That is about $30 on $10,000 held for a year. Fees come from each fund's prospectus.
How much do NOBL and VOE overlap with the S&P 500?: By their latest filed holdings, 98% of NOBL and 96% of VOE by weight is stocks the S&P 500 already holds.

Other comparisons

DVY vs NOBL NOBL vs SDY COWZ vs NOBL IJJ vs NOBL FEX vs VOE DHS vs VOE FTXR vs VOE FDL vs VOE

Where to next

NOBL on its own →VOE on its own →Hold both: look the portfolio through →Rankings →NOBL dividend history →NOBL holdings →VOE dividend history →VOE holdings →Standards and sources →

Sources and dates

NOBL filings on SEC EDGAR ↗

NOBL prospectus with the expense ratio (SEC) ↗

ProShares page for NOBL ↗

VOE filings on SEC EDGAR ↗

VOE prospectus with the expense ratio (SEC) ↗

Vanguard page for VOE ↗

Links are sources, not endorsements. A comparison is not a recommendation.

How this is computed

Overlap adds up the smaller of the two weights for each security both funds hold.

Cite this pageCitation, APA and Markdown

ETFIQ, NOBL against VOE, data as of Oct 28, 2026. https://etfiq.com/compare/any/nobl-vs-voe

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Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.