NOBL vs. BITO
NOBL (ProShares S&P 500 Dividend Aristocrats ETF) and BITO (ProShares Bitcoin Strategy ETF) are both exchange-traded funds - NOBL is a Dividend fund tracking the S&P 500 Dividend Aristocrats Index, while BITO is a Cryptocurrency fund actively managed by ProShares. NOBL is passively managed, while BITO is actively managed. Over the past 3 years, NOBL returned 8.76%/yr vs 22.22%/yr for BITO. Their 0.25 correlation means their historical movements had little consistent relationship. NOBL charges 0.35%/yr vs 0.95%/yr for BITO.
Performance
NOBL vs. BITO - Performance Comparison
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Returns By Period
In the year-to-date period, NOBL achieves a 11.50% return, which is significantly higher than BITO's -28.40% return.
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%
BITO
- 1D
- 1.45%
- 1M
- 3.64%
- 6M
- -19.37%
- YTD
- -28.40%
- 1Y
- -45.62%
- 3Y*
- 22.22%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -4.87%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.59B | $2.59B | $2.08B | |
| $70.34M | $67.56M | $62.19M |
NOBL vs. BITO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
NOBL ProShares S&P 500 Dividend Aristocrats ETF | 11.50% | 6.84% | 6.72% | 8.09% | -6.52% | 7.81% |
BITO ProShares Bitcoin Strategy ETF | -28.40% | -11.19% | 104.45% | 137.33% | -63.91% | -29.31% |
Correlation
The correlation between NOBL and BITO is 0.08, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.08 |
Correlation (3Y) Balances recent behavior with more history. | 0.17 |
Correlation (All Time) Calculated using the full available price history since Oct 19, 2021 | 0.25 |
The correlation between NOBL and BITO shifts across timeframes, from 0.08 (1 year) to 0.25 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
NOBL vs. BITO — Risk / Return Rank
NOBL
BITO
NOBL vs. BITO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares S&P 500 Dividend Aristocrats ETF (NOBL) and ProShares Bitcoin Strategy ETF (BITO). 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.
| NOBL | BITO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.40 | ||
| Sortino ratioReturn per unit of downside risk | +3.63 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 0.83 | +0.40 |
| Calmar ratioReturn relative to maximum drawdown | 1.77 | -0.84 | +2.61 |
| Martin ratioReturn relative to average drawdown | 4.49 | -1.28 | +5.78 |
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Drawdowns
NOBL vs. BITO - Drawdown Comparison
The maximum NOBL drawdown since its inception was -35.43%, smaller than the maximum BITO drawdown of -77.86%. Use the drawdown chart below to compare losses from any high point for NOBL and BITO.
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Drawdown Indicators
| NOBL | BITO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.43% | -77.86% | +42.43% |
Max Drawdown (1Y)Largest decline over 1 year | -9.11% | -54.47% | +45.36% |
Max Drawdown (3Y)Largest decline over 3 years | -15.36% | -54.47% | +39.11% |
Max Drawdown (5Y)Largest decline over 5 years | -17.92% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -35.43% | — | — |
Current DrawdownCurrent decline from peak | -1.73% | -50.61% | +48.88% |
Average DrawdownAverage peak-to-trough decline | -3.46% | -37.19% | +33.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.59% | 35.62% | -32.03% |
Volatility
NOBL vs. BITO - Volatility Comparison
The current volatility for ProShares S&P 500 Dividend Aristocrats ETF (NOBL) is 4.72%, while ProShares Bitcoin Strategy ETF (BITO) has a volatility of 8.72%. This indicates that NOBL experiences smaller price fluctuations and is considered to be less risky than BITO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NOBL | BITO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.72% | 8.72% | -4.00% |
Volatility (6M)Calculated over the trailing 6-month period | 9.11% | 33.49% | -24.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.92% | 44.21% | -32.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.48% | 54.58% | -40.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.64% | 54.58% | -37.94% |
NOBL vs. BITO - Expense Ratio Comparison
NOBL has a 0.35% expense ratio, which is lower than BITO's 0.95% expense ratio.
Dividends
NOBL vs. BITO - Dividend Comparison
NOBL's dividend yield for the trailing twelve months is around 2.03%, less than BITO's 47.03% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BITO ProShares Bitcoin Strategy ETF | 47.03% | 78.29% | 61.59% | 15.14% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
NOBL ProShares S&P 500 Dividend Aristocrats ETF | 2.03% | 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
NOBL and BITO have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BITO has higher volatility (8.72%) compared to NOBL (4.72%). In terms of maximum drawdown, NOBL dropped -35.43% vs BITO's -77.86%.
On 3-year performance, BITO leads with 22.22% vs 8.76% for NOBL. 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 3-year period, BITO has performed better with a 22.22% return vs 8.76%. 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 BITO.
BITO has the higher dividend yield at 47.03%, compared with 2.03% for NOBL.
NOBL is categorized as Dividend, while BITO is Cryptocurrency. Their fees differ too: 0.35% for NOBL and 0.95% for BITO.
NOBL currently has the higher Sharpe Ratio (1.36 vs -1.04), 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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