What is equal weighting and how does it differ from market-cap weighting?

Market-cap weighted indexes (S&P 500, Nasdaq-100) give larger weights to companies with higher market capitalizations — meaning Apple and Microsoft might together represent 10%+ of the S&P 500. Equal weighting (like NOBL) assigns the same weight to every constituent — whether the company has a $500 billion or $50 billion market cap. Equal weighting typically reduces mega-cap concentration, increases exposure to smaller companies, and creates a more genuinely diversified portfolio — but requires more frequent rebalancing.

What are ROE and ROA and why does DGRW use them for screening?

ROE (Return on Equity) measures how much profit a company generates for each dollar of shareholder equity — a high ROE indicates efficient use of capital. ROA (Return on Assets) measures profit per dollar of total assets — indicating operational efficiency. WisdomTree uses these metrics to screen for 'quality' companies whose dividends are supported by strong underlying business economics, rather than just companies with high historical yields that may be paying out dividends they can't sustain from fundamentally strong businesses.

What is dividend-value weighting?

WisdomTree's dividend-value weighting methodology weights each company by its share of the total annual dividend stream in the index — calculated as (shares outstanding × dividend per share) / (sum of all constituent dividends). Companies paying larger total dividends get higher index weights. This creates different portfolio characteristics than market-cap weighting (which would favor the largest companies regardless of dividend level) or equal weighting (which treats all companies the same).

brimindinvest.com / compare / nobl-vs-dgrwLIVE

NOBL

ProShares S&P 500 Dividend Aristocrats ETF · ETF - Dividend Aristocrats

$56.60

+5.12% this month

VERSUS

⟷

COMPARE

DGRW

WisdomTree US Quality Dividend Growth ETF · ETF - Quality Dividend Growth

$95.97

+0.21% this month

Scoreboard verdict

Across expense ratio, momentum, yield, fund size, risk

NOBL

2

DGRW

3

DGRW LEADS 3/5

Comparison scoreboard

DGRW LEADS 3/5

Exp. Ratio

NOBL 0.35%

DGRW ✓0.28%

1Y Return

NOBL +12.93%

DGRW ✓+14.73%

Div. Yield

NOBL ✓2.07%

DGRW 1.27%

AUM

NOBL $11.53B

DGRW ✓$16.6B

Beta

NOBL ✓0.76

DGRW 0.83

Metrics last refreshed: 7/9/2026

Quick take

NOBL vs DGRW Stock Comparison: AI Score, Valuation, Performance and Upside

NOBL (ProShares Dividend Aristocrats) and DGRW (WisdomTree US Quality Dividend Growth) are both dividend-focused equity ETFs but with different methodologies — NOBL's strict 25-year consecutive increase requirement with equal weighting versus DGRW's quality screen (ROE, ROA) with dividend-value weighting. NOBL is more defensive and sector-diversified; DGRW includes technology dividend payers and quality filters.

NOBL vs DGRW is dividend aristocrat pedigree screen (25+ consecutive annual increases, equal-weighted) versus quality-filtered dividend growth selection (fundamental ROE/ROA screens, dividend-weighted) — two distinct approaches to selecting dividend-growing companies with different sector exposures and methodology philosophies.

Live analysis · updated 7/9/2026

DGRW holds the edge across 3 of 5 key metrics in this comparison. DGRW has delivered stronger 1-year price return (+14.73% vs +12.93% for NOBL).

Normalized 1Y performance

NOBL

DGRW

Recent returns

NOBL

DGRW

Who should consider this stock?

NOBL may suit investors who:

→Want the strictest dividend quality screen — companies with 25+ consecutive annual dividend increases through multiple recessions — in an equally-weighted portfolio
→Value equal weighting as providing diversification across 65+ Dividend Aristocrats without concentration in any single company or large-cap mega-cap
→Prefer to exclude most technology companies from their dividend portfolio, maintaining a more traditional consumer staples, industrials, healthcare sector composition

DGRW may suit investors who:

→Want dividend growth quality with fundamental screening (ROE and ROA) rather than just historical streak requirements, allowing technology dividend payers to qualify
→Value the dividend-value weighting methodology as creating different portfolio characteristics than either market-cap or equal weighting
→Accept technology sector inclusion (Microsoft, Apple, Broadcom) within a dividend growth portfolio rather than excluding tech companies as NOBL does

Performance & AI score

Metric	NOBL	DGRW
ETF score	50.0	58.0
Latest close	$56.60	$95.97
1M return	+5.12%	+0.21%
6M return	+7.60%	+6.51%
1Y return	+12.93%	+14.73%

$10,000 invested — hypothetical growth (dividends reinvested)

How much would $10,000 be worth today if invested at the start of each period, with all dividends reinvested?

Period	NOBL	DGRW
1Y ago	$11.55K (+15.5%) started 2025-07-08	$11.63K (+16.3%) started 2025-07-08
5Y ago	$15.51K (+55.1%) started 2021-07-08	$19.12K (+91.2%) started 2021-07-08
10Y ago	$32.12K (+221.2%) started 2016-07-08	$45.15K (+351.5%) started 2016-07-08

Hypothetical — past performance does not guarantee future results.

Fund characteristics

Metric	NOBL	DGRW
Expense ratio	0.35%	0.28%
Total assets (AUM)	$11.53B	$16.6B
Dividend yield	2.07%	1.27%
Trailing P/E	23.70	25.58
Beta	0.76	0.83
52-week change	12.93%	14.73%

Risk & fund metrics

Metric	NOBL	DGRW
1Y return	+12.93%	+14.73%
6M return	+7.60%	+6.51%
1M return	+5.12%	+0.21%
1Y Sharpe ratio	0.72	0.96
Beta	0.76	0.83
Dividend yield	2.07%	1.27%
5Y CAGR	+6.79%	+11.79%

Drawdown & downside risk

Lower drawdown and smaller single-period drops generally indicate a smoother ride, though they do not guarantee lower future risk.

1Y risk snapshot

NOBL max drawdown9.11%

DGRW max drawdown8.30%

NOBL max wkly drop3.74%

DGRW max wkly drop2.70%

5Y risk snapshot

NOBL max drawdown17.92%

DGRW max drawdown17.27%

NOBL max wkly drop10.95%

DGRW max wkly drop11.01%

10Y risk snapshot

NOBL max drawdown35.43%

DGRW max drawdown32.04%

NOBL max wkly drop16.60%

DGRW max wkly drop17.04%

Performance metrics by period

Period	Metric	NOBL	DGRW
1Y	Growth	+12.93%	+14.73%
	CAGR	+12.94%	+14.75%
	Sharpe ratio	0.72	0.96
	Max drawdown	9.11%	8.30%
	Max daily drop	1.79%	1.94%
	Max wkly drop	3.74%	2.70%
5Y	Growth	+38.88%	+74.59%
	CAGR	+6.79%	+11.79%
	Sharpe ratio	0.22	0.55
	Max drawdown	17.92%	17.27%
	Max daily drop	5.19%	5.47%
	Max wkly drop	10.95%	11.01%
10Y	Growth	+153.24%	+263.27%
	CAGR	+9.74%	+13.77%
	Sharpe ratio	0.37	0.60
	Max drawdown	35.43%	32.04%
	Max daily drop	10.17%	10.62%
	Max wkly drop	16.60%	17.04%

Fund overview

Category	NOBL	DGRW
Fund name	ProShares S&P 500 Dividend Aristocrats ETF	WisdomTree U.S. Quality Dividend Growth Fund
Type	ETF	ETF
Expense ratio	0.35%	0.28%
Total assets (AUM)	$11.53B	$16.6B
Dividend yield	2.07%	1.27%

NOBL strengths

→Dividend Aristocrats' 25+ year consecutive dividend increase requirement is a rigorous quality screen — companies maintaining this streak have demonstrated financial discipline through multiple recessions and market cycles
→Equal weighting prevents concentration in any single company or mega-cap — unlike market-cap weighted indexes where Apple or Microsoft might dominate, NOBL treats Aflac and Coca-Cola equally
→Sector diversification across consumer staples, industrials, healthcare, financials, and materials provides broad defensive exposure beyond any single sector

DGRW strengths

→Quality screening (ROE and ROA filters) attempts to identify companies with sustainable dividends from strong business fundamentals rather than simply high yields that may be unsustainable
→Dividend-weighted methodology (by dividend value rather than market cap) provides different exposure than market-cap weighted indexes, with more weight to consistent payers
→Technology company inclusion — unlike NOBL which excludes most tech companies, DGRW can include technology companies that pay dividends and meet quality screens (Microsoft, Apple, Broadcom)

Risks to watch — NOBL

→NOBL's equal weighting means it underperforms in periods when mega-cap technology dominates — the index excludes most tech companies because they rarely have 25-year dividend histories
→The 0.35% expense ratio is moderate but still meaningfully higher than low-cost total market ETFs (e.g., VTI at 0.03%)
→Dividend Aristocrats tend to be mature, lower-growth companies — the index may lag in high-growth environments when investors prefer capital appreciation over dividend income

Risks to watch — DGRW

→DGRW's quality screens and dividend growth requirement may still include companies whose dividends prove unsustainable in severe economic downturns
→Technology concentration has increased as tech companies have initiated dividends — DGRW may not provide the defensive, non-tech diversification some income investors seek
→The DGRW dividend yield has historically been modest (2-2.5%) — investors seeking high current income may prefer higher-yielding ETFs (DVY, HDV) that sacrifice dividend growth for yield

Frequently asked questions

Dividend Aristocrats are S&P 500 companies that have raised their dividend for at least 25 consecutive years. Maintaining consecutive annual increases through multiple recessions (2001, 2008, 2020), industry disruptions, and challenging periods requires exceptional financial resilience, pricing power, and management discipline. Companies that sustain 25+ year streaks have typically generated consistent free cash flow across economic cycles — making the streak a powerful quality indicator beyond typical financial metrics.

AI Prediction SignalNext 5 trading days

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+2.8%BUY

DGRW

+1.1%HOLD

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