At a glance
REGL charges 0.4% a year, the same as the average of the 6 funds most like it (the 5th cheapest of 7). It has $1.76B in assets, the 3rd largest of that group; it paid 2.2% of its price in distributions over the past 12 months, quarterly. Over the past year it returned +9.8% with distributions reinvested (S&P 500: +11.5%), 6th of those 7 funds; over three years it returned +15.0% a year. At its worst it fell 36.2% in the 2020 crash (S&P 500: 33.7%) and 13.5% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 8 months and 2 months after the lows. Its ten largest positions make up 17.3% of the fund, out of 70 in all.
The short version
ProShares S&P MidCap 400 Dividend Aristocrats ETF (REGL) tracks an S&P index of mid-sized US companies that have raised their dividends every year for at least 15 years. It held 70 stocks as of August 31, 2026. Its 0.40% expense ratio matches the average of similar funds. It paid a 2.2% yield, quarterly, as of October 27, 2026, but it trailed all six comparable funds over the three years to that date.
Price history
The interactive chart needs JavaScript.
REGL +9.8% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| REGL official prospectus, to Dec 31, 2025 | — | +7.00% | — | +8.65% | — | +10.37% |
| REGL price data to Oct 27, 2026 | +9.0% | +9.8% | +15.0% | +7.7% | +9.7% | +9.5% |
- Over the year to Oct 27, 2026, REGL returned +9.8%, 6th of 7 among similar funds.
- Its 5-year annualized return was +7.7% and its 10-year +9.7%.
- In the 2020 COVID crash it fell 36.2% and regained its old high 7.6 months after the low.
- Its worst full calendar year was 2018 (-3.2%); its best was 2016 (+29.8%).
- The deepest fall in its price history was 36.4% (Feb 13, 2020 to Mar 23, 2020), recovered by Nov 10, 2020.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +8.9% | — |
| 2025 | +6.9% | +7.00% |
| 2024 | +12.3% | +12.18% |
| 2023 | +5.4% | +5.41% |
| 2022 | -0.6% | -0.50% |
| 2021 | +20.4% | +20.28% |
| 2020 | +7.5% | +7.47% |
| 2019 | +18.8% | +18.81% |
| 2018 | -3.2% | -3.16% |
| 2017 | +10.2% | +10.24% |
| 2016 | +29.8% | +29.96% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 36.2% over that stretch · deepest drop along the way 36.2%, back to its old high 7.6 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 9.3% over that stretch · deepest drop along the way 13.5%, back to its old high 1.7 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $1.3800 | |
| 2025 | $1.9500 | +6.0% |
| 2024 | $1.8400 | +4.5% |
| 2023 | $1.7600 | +6.0% |
| 2022 | $1.6600 | -9.8% |
| 2021 | $1.8400 | +22.7% |
| 2020 | $1.5000 | +27.1% |
| 2019 | $1.1800 | +8.3% |
| 2018 | $1.0900 | +22.5% |
| 2017 | $0.8900 | +45.9% |
| 2016 | $0.6100 |
What's inside
As of Aug 31, 2026, the fund held 70 securities; the ten largest made up 17.25% of assets.
| Holding | Weight | |
|---|---|---|
| Royal Gold, Inc. | 2.01% | |
| Avient Corp. | 1.82% | |
| Lincoln Electric Holdings, Inc. | 1.74% | |
| SEI Investments Co. | 1.74% | |
| MSA Safety, Inc. | 1.68% | |
| Lithia Motors, Inc. | 1.67% | |
| RLI Corp. | 1.66% | |
| Churchill Downs, Inc. | 1.65% | |
| Hanover Insurance Group, Inc. (The) | 1.64% | |
| Unum Group | 1.64% | |
| Carlisle Cos., Inc. | 1.63% | |
| Service Corp. International | 1.63% | |
| First American Financial Corp. | 1.62% | |
| Graco, Inc. | 1.62% | |
| Reinsurance Group of America, Inc. | 1.62% |
By country
United States 97.12%Bermuda 1.58%Canada 1.18%By asset type
Stocks 99.76%RA 0.13%What changed recently
- Over the three months to Aug 31, 2026, investors withdrew a net $7.2M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +4.51%, +2.33%, -1.00%.
How it works
REGL aims to track the S&P MidCap 400 Dividend Aristocrats Index, which a third party unconnected to ProShares maintains. The starting list is the S&P MidCap 400 Index, which covers mid-sized companies listed and based in the US. Mid-caps are larger than small companies but well below the giants. A company qualifies only if it has raised its dividend every year for at least 15 years. The index holds at least 40 companies.
ProShare Advisors generally uses "replication." That means it buys every stock in the index in roughly the same proportions. It may instead hold a representative sample when buying every stock is impractical or costly, or when a stock becomes hard to trade. At least 80% of assets must be in index stocks or similar instruments. The fund stays fully invested whatever the market does. It uses no leverage or options, and it held no derivatives as of August 31, 2026.
As of that date, the fund held 70 stocks, spread fairly evenly. The largest were Royal Gold (2.0%), Avient (1.8%), Lincoln Electric (1.7%) and SEI Investments (1.7%), and the top ten made up 17.25% of assets. The prospectus summary does not give the weighting formula or the rebalancing schedule. Portfolio turnover was 45%, so the fund sells and replaces a fair share of its holdings each year.
What it really costs
- REGL charges 0.4% a year, versus an average of 0.4% for the similar funds below (5th of 7, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $41 in the first year and $505 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| REGL | $41 | $128 | $224 | $505 |
In a retirement portfolio
It adds mid-sized US companies with long dividend-growth records to a portfolio usually built around large-cap stock funds.
REGL could add mid-sized companies with steady dividend growth to a portfolio built mostly on large caps. Its record starts February 3, 2015, so it missed 2008. In the 2020 COVID crash it fell 36.4% between February 13 and March 23, then took about 7.6 months to recover. Anyone who had to sell that spring would have locked in a deep loss. It held up better in 2022, losing 0.5% for the calendar year. Its deepest drop that year was 13.5%, recovered in about 1.7 months. Its worst calendar year was 2018, at -3.16%. It paid a 2.2% yield, quarterly, as of October 27, 2026. Costs are 0.40% a year, or $41 in the first year on $10,000 under the SEC's standard example. Past results don't predict future ones, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who want mid-sized US companies that have raised dividends for at least 15 straight years, alongside a large-cap core fund.
- People who care more about dividend growth than high yield; it paid 2.2%, quarterly, as of October 27, 2026.
- Holders who like holdings spread evenly: about 70 stocks, none above roughly 2% of assets as of August 31, 2026.
Look elsewhere if
- Investors focused on returns: it ranked last of seven similar funds over the three years to October 27, 2026.
- Anyone who could not sit through a drop like early 2020, when the fund fell 36.4% in about five weeks.
- Cost-focused buyers: SMMV charges 0.20% and DON 0.38%, against REGL's 0.40%, though each uses its own selection rules.
Close alternatives
Matched by closest holdings overlap from the latest N-PORT reports (no similar fund shares 20% or more of its holdings).
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| REGL this fund | — | 0.4% | $1.76B | +9.8% | +15.0% |
| OUSM ALPS | O’Shares U.S. Small-Cap Quality Divi… | 19% | 0.48% | $843.1M | +10.3% | +15.1% |
| DON WisdomTree U.S. MidCap Dividend Fund | 18% | 0.38% | $3.96B | +12.2% | +16.5% |
| SMMV iShares MSCI USA Small-Cap Min Vol Factor E… | 17% | 0.2% | $289.0M | +9.7% | +15.2% |
| SDVY First Trust SMID Cap Rising Dividend Achiev… | 16% | 0.59% | $11.35B | +12.2% | +18.5% |
| CSB VictoryShares US Small Cap High Dividend Vo… | 15% | 0.35% | $259.2M | +14.3% | +15.8% |
| RWK Invesco S&P MidCap 400 Revenue ETF | 14% | 0.39% | $1.33B | +15.0% | +19.6% |
Questions investors ask
Does REGL pay monthly dividends?
No. REGL pays dividends quarterly. Over the 12 months to October 27, 2026, it paid $1.99 per share, a yield of about 2.2%. That is modest for a dividend fund, because the index chooses companies for long dividend-growth records, not high current payouts. To qualify, a company must have raised its dividend every year for at least 15 years. Payments can change from quarter to quarter as companies change their dividends.
What is the S&P MidCap 400 Dividend Aristocrats Index?
It is an S&P index of companies from the S&P MidCap 400, which tracks mid-sized companies listed and based in the US. Only companies that have raised their dividends every year for at least 15 years qualify, and the index holds at least 40 of them. REGL tracks this index and generally owns every stock in it. As of August 31, 2026, that meant 70 stocks, led by Royal Gold, Avient and Lincoln Electric.
What's the difference between REGL and DON?
Both own mid-sized US dividend payers, but they pick stocks differently and share only about 18% of their holdings. REGL requires 15 or more straight years of dividend increases. WisdomTree U.S. MidCap Dividend Fund (DON) uses its own rules. DON charges 0.38% against REGL's 0.40%. In the year to October 27, 2026, DON returned 12.2% against REGL's 9.8%. Over three years, it returned 16.5% a year against REGL's 15%. DON is also bigger, with $3.96 billion in net assets as of June 30, 2026.
What is REGL's expense ratio?
REGL's expense ratio is 0.40% a year, according to its prospectus filed September 25, 2026. That matches the 0.40% average of similar funds and ranks 5th cheapest of 7. Under the SEC's standard example, with $10,000 invested, a 5% yearly return and shares sold at the end, costs would be about $41 after one year, $224 after five years and $505 after ten. SMMV charges 0.20% and DON charges 0.38%.
How has REGL performed over the long term?
As of December 31, 2025, REGL returned 8.65% a year over five years and 10.37% a year since it launched in February 2015. It gained 7% in 2025. Its strongest calendar year was 2016, at 29.96%, and its weakest was 2018, at -3.16%. Its worst quarter was the first quarter of 2020, a loss of 24.64%. Among similar funds, it ranked 6th of 7 over one year and 7th of 7 over three years to October 27, 2026.