Dividend Aristocrats, tracked via NOBL, outperformed SPY YTD despite a sharp March pullback, with 44 Aristocrats beating SPY and 17 posting double-digit gains. Momentum, valuation (via dividend yield theory), and projected long-term total return now guide Aristocrat selection, with 39 currently screening as undervalued and offering ≥10% expected annualized returns. Recent dividend increases from CL, GD, LIN, and O bring the 2026 average Aristocrat dividend growth rate to 3.40%, with Realty Income expected to announce further hikes throughout the year.
