ProShares, the largest issuer of so-called geared ETFs, continues to expand its lineup of non-leveraged offerings with the debut of the ProShares S&P 500 Aristocrats ETF (NYSEArca: NOBL) today. The ProShares S&P 500 Aristocrats ETF tracks the S&P 500 Dividend Aristocrats Index and charges 0.35% per year.

That index must contain a minimum of 40 companies that have raised their dividends for at least 25 consecutive years. No single sector is allowed to account for more than 30% of the index’s weight. The ProShares payout fund will rebalance in in January, April, July and October and hold both domestic and international stocks. [ProShares Could Introduce Dividend ETF]

International exposure sets the new ProShares ETF apart from the SPDR S&P Dividend ETF (NYSEArca: SDY). One of the largest U.S. dividend ETFs, SDY also follows a dividend aristocrats index that requires 25 years of consecutive dividend increases.

In the third quarter, dividend increases for U.S. common shares totaled $11.9 billion, up from $8.8 billion a year earlier. Nearly 480 dividend hikes were registered last quarter compared with almost 440 in the year earlier period, according to S&P Dow Jones Indices. And with the good times expected to continue for dividends, dividend ETFs should benefit. [Strong Dividend Environment Should Boost This ETF]

As of the close of business on September 17, 2013, the NOBL’s index was concentrated in the Consumer, Non-Cyclical industry group, which comprised approximately 41.6% of the market capitalization of the Index, according to ETF Daily News.

Some of ProShares non-leveraged ETFs include the ProShares Global Listed Private Equity ETF (NYSEArca: PEX) and the ProShares High Yield—Interest Rate Hedged (NYSEArca: HYHG).

ETF Trends editorial team contributed to this post.