Bloomberg/Bloomberg via Getty Images Investment Thesis I last covered the ProShares S&P 500 Dividend Aristocrats ETF (BATS:NOBL) in December, reasoning that its stronger dividend metrics made it a better Dividend Aristocrats choice over KNGZ, which recently changed strategies. Still, the evidence indicates that its 25 years of consecutive dividend increases screen is insufficient to keep poor-quality stocks out, limiting its total return potential. Despite free cash flow margins stuck between 0-5% and the s ...