BITO vs. NOBL
Compare and contrast key facts about ProShares Bitcoin Strategy ETF (BITO) and ProShares S&P 500 Dividend Aristocrats ETF (NOBL).
BITO and NOBL are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. BITO is an actively managed fund by ProShares. It was launched on Oct 19, 2021. NOBL is a passively managed fund by ProShares that tracks the performance of the S&P 500 Dividend Aristocrats Index. It was launched on Oct 9, 2013.
Performance
BITO vs. NOBL - Performance Comparison
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BITO vs. NOBL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
BITO ProShares Bitcoin Strategy ETF | -22.79% | -11.19% | 104.45% | 137.33% | -63.91% | -31.09% |
NOBL ProShares S&P 500 Dividend Aristocrats ETF | 2.32% | 6.84% | 6.72% | 8.09% | -6.52% | 7.18% |
Returns By Period
In the year-to-date period, BITO achieves a -22.79% return, which is significantly lower than NOBL's 2.32% return.
BITO
- 1D
- 0.60%
- 1M
- -1.72%
- YTD
- -22.79%
- 6M
- -43.10%
- 1Y
- -23.27%
- 3Y*
- 24.87%
- 5Y*
- —
- 10Y*
- —
NOBL
- 1D
- -0.04%
- 1M
- -6.79%
- YTD
- 2.32%
- 6M
- 4.06%
- 1Y
- 6.18%
- 3Y*
- 7.40%
- 5Y*
- 6.30%
- 10Y*
- 9.54%
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BITO vs. NOBL - Expense Ratio Comparison
BITO has a 0.95% expense ratio, which is higher than NOBL's 0.35% expense ratio.
Return for Risk
BITO vs. NOBL — Risk / Return Rank
BITO
NOBL
BITO vs. NOBL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Bitcoin Strategy ETF (BITO) and ProShares S&P 500 Dividend Aristocrats ETF (NOBL). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| BITO | NOBL | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.52 | 0.41 | -0.92 |
Sortino ratioReturn per unit of downside risk | -0.50 | 0.70 | -1.19 |
Omega ratioGain probability vs. loss probability | 0.94 | 1.09 | -0.14 |
Calmar ratioReturn relative to maximum drawdown | -0.42 | 0.54 | -0.96 |
Martin ratioReturn relative to average drawdown | -0.89 | 1.89 | -2.78 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BITO | NOBL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.52 | 0.41 | -0.92 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.44 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.58 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.08 | 0.64 | -0.72 |
Correlation
The correlation between BITO and NOBL is 0.27, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
BITO vs. NOBL - Dividend Comparison
BITO's dividend yield for the trailing twelve months is around 80.47%, more than NOBL's 2.14% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BITO ProShares Bitcoin Strategy ETF | 80.47% | 78.29% | 61.59% | 15.14% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
NOBL ProShares S&P 500 Dividend Aristocrats ETF | 2.14% | 2.14% | 2.05% | 2.09% | 1.94% | 1.89% | 2.14% | 1.89% | 2.37% | 1.74% | 2.13% | 2.02% |
Drawdowns
BITO vs. NOBL - Drawdown Comparison
The maximum BITO drawdown since its inception was -77.86%, which is greater than NOBL's maximum drawdown of -35.43%. Use the drawdown chart below to compare losses from any high point for BITO and NOBL.
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Drawdown Indicators
| BITO | NOBL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.86% | -35.43% | -42.43% |
Max Drawdown (1Y)Largest decline over 1 year | -50.05% | -11.20% | -38.85% |
Max Drawdown (5Y)Largest decline over 5 years | — | -17.92% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -35.43% | — |
Current DrawdownCurrent decline from peak | -46.75% | -7.07% | -39.68% |
Average DrawdownAverage peak-to-trough decline | -36.57% | -3.45% | -33.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 23.73% | 3.18% | +20.55% |
Volatility
BITO vs. NOBL - Volatility Comparison
ProShares Bitcoin Strategy ETF (BITO) has a higher volatility of 12.84% compared to ProShares S&P 500 Dividend Aristocrats ETF (NOBL) at 3.55%. This indicates that BITO's price experiences larger fluctuations and is considered to be riskier than NOBL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BITO | NOBL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.84% | 3.55% | +9.29% |
Volatility (6M)Calculated over the trailing 6-month period | 36.71% | 8.06% | +28.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 45.32% | 15.24% | +30.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 55.77% | 14.39% | +41.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 55.77% | 16.59% | +39.18% |