BOIL vs. NOBL
BOIL (ProShares Ultra Bloomberg Natural Gas) and NOBL (ProShares S&P 500 Dividend Aristocrats ETF) are both exchange-traded funds - BOIL is a Oil & Gas fund tracking the Bloomberg Natural Gas Subindex, while NOBL is a Dividend fund tracking the S&P 500 Dividend Aristocrats Index. Both are passively managed. Over the past 10 years, BOIL returned -57.67%/yr vs 10.02%/yr for NOBL. At a 0.05 correlation, their price movements are largely independent. BOIL charges 1.31%/yr vs 0.35%/yr for NOBL.
Performance
BOIL vs. NOBL - Performance Comparison
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Returns By Period
In the year-to-date period, BOIL achieves a -38.60% return, which is significantly lower than NOBL's 6.93% return. Over the past 10 years, BOIL has underperformed NOBL with an annualized return of -57.67%, while NOBL has yielded a comparatively higher 10.02% annualized return.
BOIL
- 1D
- 4.15%
- 1M
- 10.36%
- YTD
- -38.60%
- 6M
- -41.10%
- 1Y
- -72.68%
- 3Y*
- -66.02%
- 5Y*
- -66.45%
- 10Y*
- -57.67%
NOBL
- 1D
- 0.42%
- 1M
- 2.70%
- YTD
- 6.93%
- 6M
- 5.89%
- 1Y
- 12.41%
- 3Y*
- 8.66%
- 5Y*
- 6.13%
- 10Y*
- 10.02%
BOIL vs. NOBL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BOIL ProShares Ultra Bloomberg Natural Gas | -38.60% | -58.98% | -60.75% | -92.00% | -31.85% | 23.84% | -74.74% | -67.70% | -20.55% | -65.72% |
NOBL ProShares S&P 500 Dividend Aristocrats ETF | 6.93% | 6.84% | 6.72% | 8.09% | -6.52% | 25.46% | 8.35% | 27.39% | -3.26% | 21.02% |
Correlation
The correlation between BOIL and NOBL is -0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.00 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.08 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.06 |
Correlation (All Time) Calculated using the full available price history since Oct 10, 2013 | 0.05 |
The correlation between BOIL and NOBL shifts across timeframes, from -0.07 (1 year) to 0.08 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
BOIL vs. NOBL — Risk / Return Rank
BOIL
NOBL
BOIL vs. NOBL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Bloomberg Natural Gas (BOIL) 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| BOIL | NOBL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.73 | ||
| Sortino ratioReturn per unit of downside risk | -2.38 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 1.19 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | -0.94 | 1.37 | -2.31 |
| Martin ratioReturn relative to average drawdown | -1.30 | 3.47 | -4.77 |
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Drawdowns
BOIL vs. NOBL - Drawdown Comparison
The maximum BOIL drawdown since its inception was -100.00%, which is greater than NOBL's maximum drawdown of -35.43%. Use the drawdown chart below to compare losses from any high point for BOIL and NOBL.
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Drawdown Indicators
| BOIL | NOBL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -35.43% | -64.57% |
Max Drawdown (1Y)Largest decline over 1 year | -77.43% | -9.11% | -68.32% |
Max Drawdown (3Y)Largest decline over 3 years | -96.86% | -15.36% | -81.50% |
Max Drawdown (5Y)Largest decline over 5 years | -99.91% | -17.92% | -81.99% |
Max Drawdown (10Y)Largest decline over 10 years | -99.99% | -35.43% | -64.56% |
Current DrawdownCurrent decline from peak | -100.00% | -2.89% | -97.11% |
Average DrawdownAverage peak-to-trough decline | -93.59% | -3.48% | -90.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 55.95% | 3.59% | +52.36% |
Volatility
BOIL vs. NOBL - Volatility Comparison
ProShares Ultra Bloomberg Natural Gas (BOIL) has a higher volatility of 22.78% compared to ProShares S&P 500 Dividend Aristocrats ETF (NOBL) at 3.31%. This indicates that BOIL'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
| BOIL | NOBL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 22.78% | 3.31% | +19.47% |
Volatility (6M)Calculated over the trailing 6-month period | 104.55% | 8.22% | +96.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 113.22% | 11.47% | +101.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 118.95% | 14.38% | +104.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 101.83% | 16.60% | +85.23% |
BOIL vs. NOBL - Expense Ratio Comparison
BOIL has a 1.31% expense ratio, which is higher than NOBL's 0.35% expense ratio.
Dividends
BOIL vs. NOBL - Dividend Comparison
BOIL has not paid dividends to shareholders, while NOBL's dividend yield for the trailing twelve months is around 2.05%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BOIL ProShares Ultra Bloomberg Natural Gas | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
NOBL ProShares S&P 500 Dividend Aristocrats ETF | 2.05% | 2.14% | 2.05% | 2.09% | 1.94% | 1.89% | 2.14% | 1.89% | 2.37% | 1.74% | 2.13% | 2.02% |
Frequently Asked Questions
BOIL and NOBL have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BOIL has higher volatility (22.78%) compared to NOBL (3.31%). In terms of maximum drawdown, BOIL dropped -100.00% vs NOBL's -35.43%.
On 10-year performance, NOBL leads with 10.02% vs -57.67% for BOIL. On fees, NOBL is cheaper at 0.35% per year. On volatility, NOBL has been the lower-risk option at 3.31%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, NOBL has performed better with a 10.02% return vs -57.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
NOBL is cheaper with a 0.35% expense ratio, compared with 1.31% for BOIL.
NOBL has the higher dividend yield at 2.05%, compared with 0.00% for BOIL.
BOIL is categorized as Oil & Gas, while NOBL is Dividend. BOIL tracks Bloomberg Natural Gas Subindex, while NOBL tracks S&P 500 Dividend Aristocrats Index. Their fees differ too: 1.31% for BOIL and 0.35% for NOBL.
NOBL currently has the higher Sharpe Ratio (1.09 vs -0.64), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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