EFU vs. NOBL
EFU (ProShares UltraShort MSCI EAFE) and NOBL (ProShares S&P 500 Dividend Aristocrats ETF) are both exchange-traded funds - EFU is a Leveraged Equities fund tracking the MSCI EAFE Index (-200%), while NOBL is a Dividend fund tracking the S&P 500 Dividend Aristocrats Index. Both are passively managed. Over the past 10 years, EFU returned -19.65%/yr vs 9.85%/yr for NOBL. Their -0.66 correlation means they have often moved in opposite directions in the past. EFU charges 0.95%/yr vs 0.35%/yr for NOBL.
Performance
EFU vs. NOBL - Performance Comparison
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Returns By Period
In the year-to-date period, EFU achieves a -21.36% return, which is significantly lower than NOBL's 11.50% return. Over the past 10 years, EFU has underperformed NOBL with an annualized return of -19.65%, while NOBL has yielded a comparatively higher 9.85% annualized return.
EFU
- 1D
- -0.66%
- 1M
- -3.30%
- 6M
- -12.53%
- YTD
- -21.36%
- 1Y
- -35.56%
- 3Y*
- -25.18%
- 5Y*
- -16.16%
- 10Y*
- -19.65%
- ALL TIME*
- -19.09%
NOBL
- 1D
- 0.60%
- 1M
- -0.50%
- 6M
- 4.99%
- YTD
- 11.50%
- 1Y
- 16.10%
- 3Y*
- 8.76%
- 5Y*
- 6.69%
- 10Y*
- 9.85%
- ALL TIME*
- 10.74%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $26.57K | $37.75K | $56.26K | |
| $70.34M | $67.56M | $62.19M |
EFU vs. NOBL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EFU ProShares UltraShort MSCI EAFE | -21.36% | -41.07% | -1.04% | -25.36% | 24.26% | -24.58% | -35.54% | -32.71% | 32.32% | -36.87% |
NOBL ProShares S&P 500 Dividend Aristocrats ETF | 11.50% | 6.84% | 6.72% | 8.09% | -6.52% | 25.46% | 8.35% | 27.39% | -3.26% | 21.02% |
Correlation
The correlation between EFU and NOBL is -0.41, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.41 |
Correlation (3Y) Balances recent behavior with more history. | -0.53 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.63 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.64 |
Correlation (All Time) Calculated using the full available price history since Oct 10, 2013 | -0.66 |
Over the past year, the inverse relationship between EFU and NOBL has weakened: their correlation has moved from -0.66 to -0.41, meaning they move in opposite directions less often than they have historically.
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Return for Risk
EFU vs. NOBL — Risk / Return Rank
EFU
NOBL
EFU vs. NOBL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort MSCI EAFE (EFU) 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.
| EFU | NOBL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.46 | ||
| Sortino ratioReturn per unit of downside risk | -3.67 | ||
| Omega ratioGain probability vs. loss probability | 0.82 | 1.23 | -0.42 |
| Calmar ratioReturn relative to maximum drawdown | -1.04 | 1.77 | -2.82 |
| Martin ratioReturn relative to average drawdown | -1.67 | 4.49 | -6.16 |
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Drawdowns
EFU vs. NOBL - Drawdown Comparison
The maximum EFU drawdown since its inception was -99.39%, which is greater than NOBL's maximum drawdown of -35.43%. Use the drawdown chart below to compare losses from any high point for EFU and NOBL.
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Drawdown Indicators
| EFU | NOBL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.39% | -35.43% | -63.96% |
Max Drawdown (1Y)Largest decline over 1 year | -34.17% | -9.11% | -25.06% |
Max Drawdown (3Y)Largest decline over 3 years | -65.69% | -15.36% | -50.33% |
Max Drawdown (5Y)Largest decline over 5 years | -76.39% | -17.92% | -58.47% |
Max Drawdown (10Y)Largest decline over 10 years | -89.39% | -35.43% | -53.96% |
Current DrawdownCurrent decline from peak | -99.39% | -1.73% | -97.66% |
Average DrawdownAverage peak-to-trough decline | -87.22% | -3.46% | -83.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 23.06% | 3.59% | +19.47% |
Volatility
EFU vs. NOBL - Volatility Comparison
ProShares UltraShort MSCI EAFE (EFU) has a higher volatility of 9.16% compared to ProShares S&P 500 Dividend Aristocrats ETF (NOBL) at 4.72%. This indicates that EFU'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
| EFU | NOBL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.16% | 4.72% | +4.44% |
Volatility (6M)Calculated over the trailing 6-month period | 28.75% | 9.11% | +19.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 32.55% | 11.92% | +20.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.67% | 14.48% | +19.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.62% | 16.64% | +16.98% |
EFU vs. NOBL - Expense Ratio Comparison
EFU has a 0.95% expense ratio, which is higher than NOBL's 0.35% expense ratio.
Dividends
EFU vs. NOBL - Dividend Comparison
EFU's dividend yield for the trailing twelve months is around 5.21%, more than NOBL's 2.03% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EFU ProShares UltraShort MSCI EAFE | 5.21% | 5.57% | 3.87% | 6.41% | 1.47% | 0.00% | 0.06% | 0.95% | 0.17% | 0.00% | 0.00% | 0.00% |
NOBL ProShares S&P 500 Dividend Aristocrats ETF | 2.03% | 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
EFU and NOBL have a correlation of -0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EFU has higher volatility (9.16%) compared to NOBL (4.72%). In terms of maximum drawdown, EFU dropped -99.39% vs NOBL's -35.43%.
On 10-year performance, NOBL leads with 9.85% vs -19.65% for EFU. On fees, NOBL is cheaper at 0.35% per year. On volatility, NOBL has been the lower-risk option at 4.72%. 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 9.85% return vs -19.65%. 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 0.95% for EFU.
EFU has the higher dividend yield at 5.21%, compared with 2.03% for NOBL.
EFU is categorized as Leveraged Equities, while NOBL is Dividend. EFU tracks MSCI EAFE Index (-200%), while NOBL tracks S&P 500 Dividend Aristocrats Index. Their fees differ too: 0.95% for EFU and 0.35% for NOBL.
NOBL currently has the higher Sharpe Ratio (1.36 vs -1.10), 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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