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BZQ vs. NOBL
Performance
Return for Risk
Dividends
Drawdowns
Volatility

BZQ vs. NOBL

Last updated Apr 2, 2026

Compare and contrast key facts about ProShares UltraShort MSCI Brazil Capped (BZQ) and ProShares S&P 500 Dividend Aristocrats ETF (NOBL).

BZQ and NOBL are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. BZQ is a passively managed fund by ProShares that tracks the performance of the MSCI Brazil 25-50 (-200%). It was launched on Jun 16, 2009. 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. Both BZQ and NOBL are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

BZQ vs. NOBL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraShort MSCI Brazil Capped (BZQ) and ProShares S&P 500 Dividend Aristocrats ETF (NOBL). The values are adjusted to include any dividend payments, if applicable.

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BZQ vs. NOBL - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
BZQ
ProShares UltraShort MSCI Brazil Capped		-35.24%-57.90%98.84%-49.11%-44.20%6.45%-52.88%-48.20%-21.52%-49.73%
NOBL
ProShares S&P 500 Dividend Aristocrats ETF		2.32%6.84%6.72%8.09%-6.52%25.46%8.35%27.39%-3.26%21.02%

Returns By Period

In the year-to-date period, BZQ achieves a -35.24% return, which is significantly lower than NOBL's 2.32% return. Over the past 10 years, BZQ has underperformed NOBL with an annualized return of -38.77%, while NOBL has yielded a comparatively higher 9.54% annualized return.

BZQ

1D
-0.31%
1M
-2.23%
YTD
-35.24%
6M
-44.95%
1Y
-62.63%
3Y*
-34.64%
5Y*
-32.43%
10Y*
-38.77%

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%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

ProShares UltraShort MSCI Brazil Capped

ProShares S&P 500 Dividend Aristocrats ETF

Often compared with BZQ:
BZQ vs. EWZBZQ vs. VTIBZQ vs. USTBZQ vs. ULEBZQ vs. TSMXBZQ vs. XTAPBZQ vs. XDQQ
Often compared with NOBL:
NOBL vs. SCHDNOBL vs. VIGNOBL vs. SPYNOBL vs. DGRONOBL vs. SDYNOBL vs. VOONOBL vs. KNG

BZQ vs. NOBL - Expense Ratio Comparison

BZQ has a 0.95% expense ratio, which is higher than NOBL's 0.35% expense ratio.

BZQ
ProShares UltraShort MSCI Brazil Capped
NOBL
ProShares S&P 500 Dividend Aristocrats ETF

Return for Risk

BZQ vs. NOBL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
BZQ
BZQ Risk / Return Rank: 11
Overall Rank
BZQ Sharpe Ratio Rank: 00
Sharpe Ratio Rank
BZQ Sortino Ratio Rank: 00
Sortino Ratio Rank
BZQ Omega Ratio Rank: 00
Omega Ratio Rank
BZQ Calmar Ratio Rank: 11
Calmar Ratio Rank
BZQ Martin Ratio Rank: 22
Martin Ratio Rank
NOBL
NOBL Risk / Return Rank: 2323
Overall Rank
NOBL Sharpe Ratio Rank: 2323
Sharpe Ratio Rank
NOBL Sortino Ratio Rank: 2323
Sortino Ratio Rank
NOBL Omega Ratio Rank: 2222
Omega Ratio Rank
NOBL Calmar Ratio Rank: 2424
Calmar Ratio Rank
NOBL Martin Ratio Rank: 2525
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BZQ vs. NOBL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort MSCI Brazil Capped (BZQ) 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.

BZQNOBLDifference

Sharpe ratio

Return per unit of total volatility

-1.22

0.41

-1.63

Sortino ratio

Return per unit of downside risk

-2.25

0.70

-2.95

Omega ratio

Gain probability vs. loss probability

0.75

1.09

-0.34

Calmar ratio

Return relative to maximum drawdown

-0.90

0.54

-1.44

Martin ratio

Return relative to average drawdown

-1.36

1.89

-3.25

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BZQ vs. NOBL - Sharpe Ratio Comparison

The current BZQ Sharpe Ratio is -1.22, which is lower than the NOBL Sharpe Ratio of 0.41. The chart below compares the historical Sharpe Ratios of BZQ and NOBL, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

BZQNOBLDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

-1.22

0.41

-1.63

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

-0.59

0.44

-1.03

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

-0.58

0.58

-1.15

Sharpe Ratio (All Time)

Calculated using the full available price history

-0.46

0.64

-1.11

Correlation

The correlation between BZQ and NOBL is -0.42. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

BZQ vs. NOBL - Dividend Comparison

BZQ's dividend yield for the trailing twelve months is around 8.52%, more than NOBL's 2.14% yield.

TTM20252024202320222021202020192018201720162015
BZQ
ProShares UltraShort MSCI Brazil Capped		8.52%5.96%3.26%4.51%0.22%0.00%0.21%2.13%0.28%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

BZQ vs. NOBL - Drawdown Comparison

The maximum BZQ drawdown since its inception was -99.79%, which is greater than NOBL's maximum drawdown of -35.43%. Use the drawdown chart below to compare losses from any high point for BZQ and NOBL.

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Drawdown Indicators

BZQNOBLDifference

Max Drawdown

Largest peak-to-trough decline

-99.79%

-35.43%

-64.36%

Max Drawdown (1Y)

Largest decline over 1 year

-70.23%

-11.20%

-59.03%

Max Drawdown (5Y)

Largest decline over 5 years

-86.86%

-17.92%

-68.94%

Max Drawdown (10Y)

Largest decline over 10 years

-99.37%

-35.43%

-63.94%

Current Drawdown

Current decline from peak

-99.79%

-7.07%

-92.72%

Average Drawdown

Average peak-to-trough decline

-84.38%

-3.45%

-80.93%

Ulcer Index

Depth and duration of drawdowns from previous peaks

46.46%

3.18%

+43.28%

Volatility

BZQ vs. NOBL - Volatility Comparison

ProShares UltraShort MSCI Brazil Capped (BZQ) has a higher volatility of 22.43% compared to ProShares S&P 500 Dividend Aristocrats ETF (NOBL) at 3.55%. This indicates that BZQ'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

BZQNOBLDifference

Volatility (1M)

Calculated over the trailing 1-month period

22.43%

3.55%

+18.88%

Volatility (6M)

Calculated over the trailing 6-month period

39.07%

8.06%

+31.01%

Volatility (1Y)

Calculated over the trailing 1-year period

51.39%

15.24%

+36.15%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

55.41%

14.39%

+41.02%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

67.40%

16.59%

+50.81%