MYY vs. NOBL
MYY (ProShares Short S&P Mid Cap400) and NOBL (ProShares S&P 500 Dividend Aristocrats ETF) are both exchange-traded funds - MYY is a Inverse Equities fund tracking the S&P Mid Cap 400 (-100%), while NOBL is a Dividend fund tracking the S&P 500 Dividend Aristocrats Index. Both are passively managed. Over the past 10 years, MYY returned -10.86%/yr vs 9.76%/yr for NOBL. At a correlation of -0.82, they often move in opposite directions. MYY charges 0.95%/yr vs 0.35%/yr for NOBL.
Performance
MYY vs. NOBL - Performance Comparison
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Returns By Period
In the year-to-date period, MYY achieves a -11.79% return, which is significantly lower than NOBL's 11.29% return. Over the past 10 years, MYY has underperformed NOBL with an annualized return of -10.86%, while NOBL has yielded a comparatively higher 9.76% annualized return.
MYY
- 1D
- -0.42%
- 1M
- 0.37%
- 6M
- -6.31%
- YTD
- -11.79%
- 1Y
- -14.85%
- 3Y*
- -8.11%
- 5Y*
- -6.74%
- 10Y*
- -10.86%
NOBL
- 1D
- 2.38%
- 1M
- 3.24%
- 6M
- 5.51%
- YTD
- 11.29%
- 1Y
- 14.89%
- 3Y*
- 8.85%
- 5Y*
- 6.91%
- 10Y*
- 9.76%
MYY vs. NOBL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MYY ProShares Short S&P Mid Cap400 | -11.79% | -4.05% | -7.08% | -9.46% | 10.23% | -23.04% | -25.94% | -19.98% | 12.79% | -14.63% |
NOBL ProShares S&P 500 Dividend Aristocrats ETF | 11.29% | 6.84% | 6.72% | 8.09% | -6.52% | 25.46% | 8.35% | 27.39% | -3.26% | 21.02% |
Correlation
The correlation between MYY and NOBL is -0.57, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.57 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.72 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.79 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.81 |
Correlation (All Time) Calculated using the full available price history since Oct 10, 2013 | -0.82 |
Over the past year, the inverse relationship between MYY and NOBL has weakened: their correlation has moved from -0.82 to -0.57, meaning they move in opposite directions less often than they have historically.
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Return for Risk
MYY vs. NOBL — Risk / Return Rank
MYY
NOBL
MYY vs. NOBL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Short S&P Mid Cap400 (MYY) 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.
| MYY | NOBL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.22 | ||
| Sortino ratioReturn per unit of downside risk | -3.20 | ||
| Omega ratioGain probability vs. loss probability | 0.86 | 1.22 | -0.36 |
| Calmar ratioReturn relative to maximum drawdown | -0.82 | 1.64 | -2.46 |
| Martin ratioReturn relative to average drawdown | -1.52 | 4.15 | -5.66 |
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Drawdowns
MYY vs. NOBL - Drawdown Comparison
The maximum MYY drawdown since its inception was -95.20%, which is greater than NOBL's maximum drawdown of -35.43%. Use the drawdown chart below to compare losses from any high point for MYY and NOBL.
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Drawdown Indicators
| MYY | NOBL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -95.20% | -35.43% | -59.77% |
Max Drawdown (1Y)Largest decline over 1 year | -18.25% | -9.11% | -9.14% |
Max Drawdown (3Y)Largest decline over 3 years | -35.14% | -15.36% | -19.78% |
Max Drawdown (5Y)Largest decline over 5 years | -37.79% | -17.92% | -19.87% |
Max Drawdown (10Y)Largest decline over 10 years | -71.93% | -35.43% | -36.50% |
Current DrawdownCurrent decline from peak | -95.11% | -0.69% | -94.42% |
Average DrawdownAverage peak-to-trough decline | -72.27% | -3.47% | -68.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.82% | 3.60% | +6.22% |
Volatility
MYY vs. NOBL - Volatility Comparison
The current volatility for ProShares Short S&P Mid Cap400 (MYY) is 3.41%, while ProShares S&P 500 Dividend Aristocrats ETF (NOBL) has a volatility of 4.72%. This indicates that MYY experiences smaller price fluctuations and is considered to be less risky 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
| MYY | NOBL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.41% | 4.72% | -1.31% |
Volatility (6M)Calculated over the trailing 6-month period | 11.68% | 8.85% | +2.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.70% | 11.82% | +3.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.59% | 14.47% | +5.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.20% | 16.61% | +4.59% |
MYY vs. NOBL - Expense Ratio Comparison
MYY has a 0.95% expense ratio, which is higher than NOBL's 0.35% expense ratio.
Dividends
MYY vs. NOBL - Dividend Comparison
MYY's dividend yield for the trailing twelve months is around 4.32%, more than NOBL's 2.03% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MYY ProShares Short S&P Mid Cap400 | 4.32% | 4.20% | 4.92% | 5.08% | 0.40% | 0.00% | 0.05% | 1.52% | 0.34% | 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
MYY and NOBL have a correlation of -0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NOBL has higher volatility (4.72%) compared to MYY (3.41%). In terms of maximum drawdown, MYY dropped -95.20% vs NOBL's -35.43%.
On 10-year performance, NOBL leads with 9.76% vs -10.86% for MYY. On fees, NOBL is cheaper at 0.35% per year. On volatility, MYY has been the lower-risk option at 3.41%. 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 9.76% return vs -10.86%. 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 MYY.
MYY has the higher dividend yield at 4.32%, compared with 2.03% for NOBL.
MYY is categorized as Inverse Equities, while NOBL is Dividend. MYY tracks S&P Mid Cap 400 (-100%), while NOBL tracks S&P 500 Dividend Aristocrats Index. Their fees differ too: 0.95% for MYY and 0.35% for NOBL.
NOBL currently has the higher Sharpe Ratio (1.27 vs -0.95), 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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