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A New Blue-Chip-Themed 'Dividend Aristocrats' ETF From ProShares

State Street rolls out an ultrashort-bond fund, PowerShares brings an actively managed, China A Shares ETF to market, ALPS teams up with RiverFront for an actively managed bond fund, and Northern Trust's FlexShares launches a broad global infrastructure ETF.

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On Thursday, Oct. 10, ProShares rolled out a passively managed ETF that holds the 54 companies in the S&P 500 Index that have raised their dividend payments each year for the past quarter-century.

The equally weighted ProShares S&P 500 Aristocrats ETF (NOBL) tracks the S&P 500 Dividend Aristocrats Index, a benchmark aimed at offering investors some measure of income along with quality, as dividend increases are considered a measure of a company’s financial strength. The index places a 30% cap on the exposure of any one sector to ensure diversification.

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Robert Goldsborough does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.