ProShares Russell U.S. Dividend Growers ETF

ProShares Russell U.S. Dividend Growers ETF (TMDV) tracks the Russell 3000 Dividend Elite Index, made up of U.S. companies that have raised their dividends every year for at least 35 years. It may suit investors who value long records of rising payouts over a high starting yield. Its 0.35% annual fee matches peers NOBL and SDY, but at about $4.8 million in assets as of August 31, 2026, it is far smaller.

• Over the year to Oct 27, 2026, TMDV returned +13.7%, 3rd of 4 among similar funds.
• Its 5-year annualized return was +4.5%.
• In the 2020 COVID crash it fell 32.8% and regained its old high 7.6 months after the low.
• Its worst full calendar year was 2022 (-5.1%); its best was 2021 (+23.5%).
• The deepest fall in its price history was 33.4% (Jan 17, 2020 to Mar 23, 2020), recovered by Nov 10, 2020.

As of Aug 31, 2026, the fund held 70 securities; the ten largest made up 18.06% of assets.

By sector

• Over the three months to Aug 31, 2026, investors added a net $0.00 (creations minus redemptions, per the N-PORT report).
• Monthly total returns reported for that quarter: +5.50%, +2.77%, -0.02%.

TMDV is an index fund: rather than picking stocks, it aims to match the performance, before fees and expenses, of the Russell 3000 Dividend Elite Index. That index starts with the Russell 3000, the 3,000 largest U.S. companies, and keeps only those that have raised their dividends every year for at least the last 35 years. It must include at least 40 companies.

ProShare Advisors, the fund's manager, generally uses replication: it owns every index stock in roughly the index's proportions. It may instead use representative sampling, holding a subset chosen to behave like the whole, when owning every stock is impractical, costly or restricted. The fund stays fully invested, even in downturns. As of August 31, 2026, its holdings were nearly all common stock, with no derivatives such as swaps or futures.

The prospectus summary doesn't spell out the index's weighting or rebalancing rules, but the holdings show a fairly even spread. As of August 31, 2026, the three largest positions (Genuine Parts, Becton Dickinson and Automatic Data Processing) were each just under 2%, and the top 10 made up about 18% of assets. Turnover, the share of the portfolio traded over a year, was a modest 19%. Shares trade on an exchange, so their price can differ from the value of the underlying stocks.

• TMDV charges 0.35% a year, versus an average of 0.35% for the similar funds below (1st of 4, cheapest first).
• Using the prospectus's standard example, $10,000 invested would cost about $36 in the first year and $443 over 10 years (assuming a 5% annual return).

It holds U.S. companies with at least 35 years of annual dividend increases, and its trailing yield was 2.48%, paid quarterly, as of October 27, 2026.

TMDV launched in November 2019, so it has no 2008 record. Its deepest drop, 33.4%, came in the 2020 COVID crash; it recovered by November 10, 2020, about 7.6 months after the March low. In 2022 it fell 17.1% and took about 21.5 months from its September low to recover, though that calendar year, its worst, ended down about 5%. Anyone withdrawing near those lows would have locked in losses.

It could add quarterly income from long-time dividend raisers: the yield over the trailing 12 months was 2.48% as of October 27, 2026. Under the SEC's standard $10,000 example, the 0.35% fee costs about $36 in year one and $443 over 10 years. Its small size, about $4.8 million as of August 31, 2026, raises closure risk. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.

Matched by holdings overlap from the latest N-PORT reports.