FB vs. NOBL

Last updated Jun 24, 2026

FB (ProShares S&P 500 Dynamic Daily Buffer ETF) and NOBL (ProShares S&P 500 Dividend Aristocrats ETF) are both exchange-traded funds - FB is a Defined Outcome fund tracking the S&P 500, while NOBL is a Dividend fund tracking the S&P 500 Dividend Aristocrats Index. Both are passively managed. At a 0.27 correlation, their price movements are largely independent. FB charges 0.58%/yr vs 0.35%/yr for NOBL.

Performance

FB vs. NOBL - Performance Comparison

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

Returns By Period

In the year-to-date period, FB achieves a 5.68% return, which is significantly lower than NOBL's 6.48% return.

FB

• 1D: -0.31%
• 1M: -0.35%
• YTD: 5.68%
• 6M: 5.60%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

NOBL

• 1D: 0.68%
• 1M: 2.27%
• YTD: 6.48%
• 6M: 5.98%
• 1Y: 12.52%
• 3Y*: 8.50%
• 5Y*: 6.18%
• 10Y*: 9.97%

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

FB vs. NOBL - Yearly Performance Comparison

	2026 (YTD)	2025
FB ProShares S&P 500 Dynamic Daily Buffer ETF	5.68%	6.10%
NOBL ProShares S&P 500 Dividend Aristocrats ETF	6.48%	6.16%

Correlation

The correlation between FB and NOBL is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025	0.27

Return for Risk

FB vs. NOBL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FB

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

NOBL

NOBL Risk / Return Rank: 29
NOBL Sharpe Ratio Rank: 31
NOBL Sortino Ratio Rank: 32
NOBL Omega Ratio Rank: 28
NOBL Calmar Ratio Rank: 28
NOBL Martin Ratio Rank: 27

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.

FB vs. NOBL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares S&P 500 Dynamic Daily Buffer ETF (FB) 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.

	FB	NOBL	Difference
Sharpe ratio: Return per unit of total volatility	—	1.10	—
Sortino ratio: Return per unit of downside risk	—	1.67	—
Omega ratio: Gain probability vs. loss probability	—	1.19	—
Calmar ratio: Return relative to maximum drawdown	—	1.38	—
Martin ratio: Return relative to average drawdown	—	3.50	—

Drawdowns

FB vs. NOBL - Drawdown Comparison

The maximum FB drawdown since its inception was -1.76%, smaller than the maximum NOBL drawdown of -35.43%. Use the drawdown chart below to compare losses from any high point for FB and NOBL.

Drawdown Indicators

	FB	NOBL	Difference
Max Drawdown Largest peak-to-trough decline	-1.76%	-35.43%	+33.67%
Max Drawdown (1Y) Largest decline over 1 year	—	-9.11%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-15.36%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-17.92%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-35.43%	—
Current Drawdown Current decline from peak	-0.48%	-3.29%	+2.81%
Average Drawdown Average peak-to-trough decline	-0.33%	-3.48%	+3.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.58%	—

Volatility

Volatility by Period

	FB	NOBL	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.31%	—
Volatility (6M) Calculated over the trailing 6-month period	—	8.22%	—
Volatility (1Y) Calculated over the trailing 1-year period	5.02%	11.52%	-6.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.02%	14.38%	-9.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.02%	16.60%	-11.58%

FB vs. NOBL - Expense Ratio Comparison

FB has a 0.58% expense ratio, which is higher than NOBL's 0.35% expense ratio.

Dividends

FB vs. NOBL - Dividend Comparison

FB's dividend yield for the trailing twelve months is around 1.24%, less than NOBL's 2.06% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FB ProShares S&P 500 Dynamic Daily Buffer ETF	1.24%	0.92%	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	2.06%	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

Can I hold both FB and NOBL in my portfolio?

FB and NOBL have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FB or NOBL?

On fees, NOBL is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FB or NOBL?

NOBL is cheaper with a 0.35% expense ratio, compared with 0.58% for FB.

Which ETF pays a higher dividend yield, FB or NOBL?

NOBL has the higher dividend yield at 2.06%, compared with 1.24% for FB.

What is the main difference between FB and NOBL?

FB is categorized as Defined Outcome, while NOBL is Dividend. FB tracks S&P 500, while NOBL tracks S&P 500 Dividend Aristocrats Index. Their fees differ too: 0.58% for FB and 0.35% for NOBL.