FXP vs. NOBL
FXP (ProShares UltraShort FTSE China 50) and NOBL (ProShares S&P 500 Dividend Aristocrats ETF) are both exchange-traded funds - FXP is a China Equities fund tracking the FTSE China 50 Net Tax USD (TR) (-200%), while NOBL is a Dividend fund tracking the S&P 500 Dividend Aristocrats Index. Both are passively managed. Over the past 10 years, FXP returned -22.22%/yr vs 9.99%/yr for NOBL. Their -0.42 correlation means they have often moved in opposite directions in the past. FXP charges 0.95%/yr vs 0.35%/yr for NOBL.
Performance
FXP vs. NOBL - Performance Comparison
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Returns By Period
In the year-to-date period, FXP achieves a 6.18% return, which is significantly lower than NOBL's 12.94% return. Over the past 10 years, FXP has underperformed NOBL with an annualized return of -22.22%, while NOBL has yielded a comparatively higher 9.99% annualized return.
FXP
- 1D
- 0.44%
- 1M
- -23.97%
- 6M
- 9.78%
- YTD
- 6.18%
- 1Y
- -1.26%
- 3Y*
- -27.96%
- 5Y*
- -21.08%
- 10Y*
- -22.22%
- ALL TIME*
- -28.45%
NOBL
- 1D
- 1.29%
- 1M
- 0.78%
- 6M
- 5.71%
- YTD
- 12.94%
- 1Y
- 16.34%
- 3Y*
- 9.22%
- 5Y*
- 6.92%
- 10Y*
- 9.99%
- ALL TIME*
- 10.85%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $103.24K | $95.91K | $96.09K | |
| $71.96M | $68.15M | $62.59M |
FXP vs. NOBL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FXP ProShares UltraShort FTSE China 50 | 6.18% | -45.32% | -52.46% | 12.74% | -11.73% | 23.56% | -39.47% | -29.01% | 12.45% | -49.76% |
NOBL ProShares S&P 500 Dividend Aristocrats ETF | 12.94% | 6.84% | 6.72% | 8.09% | -6.52% | 25.46% | 8.35% | 27.39% | -3.26% | 21.02% |
Correlation
The correlation between FXP and NOBL is -0.14, 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. | -0.14 |
Correlation (3Y) Balances recent behavior with more history. | -0.27 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.30 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.38 |
Correlation (All Time) Calculated using the full available price history since Oct 10, 2013 | -0.42 |
Over the past year, the inverse relationship between FXP and NOBL has weakened: their correlation has moved from -0.42 to -0.14, meaning they move in opposite directions less often than they have historically.
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Return for Risk
FXP vs. NOBL — Risk / Return Rank
FXP
NOBL
FXP vs. NOBL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort FTSE China 50 (FXP) 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.
| FXP | NOBL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.41 | ||
| Sortino ratioReturn per unit of downside risk | -1.85 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 1.24 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | -0.05 | 1.80 | -1.85 |
| Martin ratioReturn relative to average drawdown | -0.11 | 4.56 | -4.67 |
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Drawdowns
FXP vs. NOBL - Drawdown Comparison
The maximum FXP drawdown since its inception was -99.94%, which is greater than NOBL's maximum drawdown of -35.43%. Use the drawdown chart below to compare losses from any high point for FXP and NOBL.
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Drawdown Indicators
| FXP | NOBL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.94% | -35.43% | -64.51% |
Max Drawdown (1Y)Largest decline over 1 year | -25.65% | -9.11% | -16.54% |
Max Drawdown (3Y)Largest decline over 3 years | -82.34% | -15.36% | -66.98% |
Max Drawdown (5Y)Largest decline over 5 years | -87.85% | -17.92% | -69.93% |
Max Drawdown (10Y)Largest decline over 10 years | -93.56% | -35.43% | -58.13% |
Current DrawdownCurrent decline from peak | -99.92% | -0.46% | -99.46% |
Average DrawdownAverage peak-to-trough decline | -94.18% | -3.46% | -90.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.62% | 3.59% | +8.03% |
Volatility
FXP vs. NOBL - Volatility Comparison
ProShares UltraShort FTSE China 50 (FXP) has a higher volatility of 10.97% compared to ProShares S&P 500 Dividend Aristocrats ETF (NOBL) at 4.83%. This indicates that FXP'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
| FXP | NOBL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.97% | 4.83% | +6.14% |
Volatility (6M)Calculated over the trailing 6-month period | 29.41% | 9.18% | +20.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 40.60% | 11.96% | +28.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 62.72% | 14.48% | +48.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 54.81% | 16.64% | +38.17% |
FXP vs. NOBL - Expense Ratio Comparison
FXP has a 0.95% expense ratio, which is higher than NOBL's 0.35% expense ratio.
Dividends
FXP vs. NOBL - Dividend Comparison
FXP's dividend yield for the trailing twelve months is around 3.39%, more than NOBL's 2.00% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FXP ProShares UltraShort FTSE China 50 | 3.39% | 9.57% | 3.55% | 2.20% | 0.06% | 0.00% | 0.06% | 1.20% | 0.16% | 0.00% | 0.00% | 0.00% |
NOBL ProShares S&P 500 Dividend Aristocrats ETF | 2.00% | 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
FXP and NOBL have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FXP has higher volatility (10.97%) compared to NOBL (4.83%). In terms of maximum drawdown, FXP dropped -99.94% vs NOBL's -35.43%.
On 10-year performance, NOBL leads with 9.99% vs -22.22% for FXP. On fees, NOBL is cheaper at 0.35% per year. On volatility, NOBL has been the lower-risk option at 4.83%. 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 9.99% return vs -22.22%. 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 FXP.
FXP has the higher dividend yield at 3.39%, compared with 2.00% for NOBL.
FXP is categorized as China Equities, while NOBL is Dividend. FXP tracks FTSE China 50 Net Tax USD (TR) (-200%), while NOBL tracks S&P 500 Dividend Aristocrats Index. Their fees differ too: 0.95% for FXP and 0.35% for NOBL.
NOBL currently has the higher Sharpe Ratio (1.38 vs -0.03), 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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