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NOBL vs. IEF
Performance
Return for Risk
Drawdowns
Volatility
Dividends

NOBL vs. IEF

Last updated Jun 9, 2026

NOBL (ProShares S&P 500 Dividend Aristocrats ETF) and IEF (iShares 7-10 Year Treasury Bond ETF) are both exchange-traded funds - NOBL is a Dividend fund tracking the S&P 500 Dividend Aristocrats Index, while IEF is a Government Bonds fund tracking the ICE U.S. Treasury 7-10 Year Bond Index. Both are passively managed. Over the past 10 years, NOBL returned 9.58%/yr vs 0.53%/yr for IEF. At a correlation of -0.10, they often move in opposite directions. NOBL charges 0.35%/yr vs 0.15%/yr for IEF.

Performance

NOBL vs. IEF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares S&P 500 Dividend Aristocrats ETF (NOBL) and iShares 7-10 Year Treasury Bond ETF (IEF). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, NOBL achieves a 4.55% return, which is significantly higher than IEF's -1.16% return. Over the past 10 years, NOBL has outperformed IEF with an annualized return of 9.58%, while IEF has yielded a comparatively lower 0.53% annualized return.

NOBL

1D
-0.72%
1M
1.13%
YTD
4.55%
6M
6.02%
1Y
9.97%
3Y*
8.03%
5Y*
5.43%
10Y*
9.58%

IEF

1D
-0.11%
1M
-1.19%
YTD
-1.16%
6M
-0.96%
1Y
3.91%
3Y*
2.43%
5Y*
-1.34%
10Y*
0.53%
*Multi-year figures are annualized to reflect compound growth (CAGR)

NOBL vs. IEF - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
NOBL
ProShares S&P 500 Dividend Aristocrats ETF		4.55%6.84%6.72%8.09%-6.52%25.46%8.35%27.39%-3.26%21.02%
IEF
iShares 7-10 Year Treasury Bond ETF		-1.16%8.03%-0.63%3.64%-15.15%-3.33%10.01%8.03%0.99%2.55%

Correlation

The correlation between NOBL and IEF is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.30

Correlation (3Y)
Calculated over the trailing 3-year period

0.24

Correlation (5Y)
Calculated over the trailing 5-year period

0.14

Correlation (10Y)
Calculated over the trailing 10-year period

-0.05

Correlation (All Time)
Calculated using the full available price history since Oct 11, 2013

-0.10

The correlation between NOBL and IEF shifts across timeframes, from -0.10 (all time) to 0.30 (1 year), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

ProShares S&P 500 Dividend Aristocrats ETF

iShares 7-10 Year Treasury Bond ETF

Often compared with NOBL:
NOBL vs. SCHDNOBL vs. SPYNOBL vs. VIGNOBL vs. DGRONOBL vs. SDYNOBL vs. VOONOBL vs. KNG
Often compared with IEF:
IEF vs. TLTIEF vs. VGITIEF vs. LQDIEF vs. SHYIEF vs. BNDIEF vs. IEIIEF vs. TIP

Return for Risk

NOBL vs. IEF — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
NOBL
NOBL Risk / Return Rank: 2525
Overall Rank
NOBL Sharpe Ratio Rank: 2727
Sharpe Ratio Rank
NOBL Sortino Ratio Rank: 2727
Sortino Ratio Rank
NOBL Omega Ratio Rank: 2424
Omega Ratio Rank
NOBL Calmar Ratio Rank: 2525
Calmar Ratio Rank
NOBL Martin Ratio Rank: 2323
Martin Ratio Rank
IEF
IEF Risk / Return Rank: 2424
Overall Rank
IEF Sharpe Ratio Rank: 2626
Sharpe Ratio Rank
IEF Sortino Ratio Rank: 2525
Sortino Ratio Rank
IEF Omega Ratio Rank: 2323
Omega Ratio Rank
IEF Calmar Ratio Rank: 2323
Calmar Ratio Rank
IEF Martin Ratio Rank: 2323
Martin Ratio Rank
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.

NOBL vs. IEF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares S&P 500 Dividend Aristocrats ETF (NOBL) and iShares 7-10 Year Treasury Bond ETF (IEF). 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.

NOBLIEFDifference
Sharpe ratioReturn per unit of total volatility
0.88
0.84

+0.04

Sortino ratioReturn per unit of downside risk
1.36
1.26

+0.10

Omega ratioGain probability vs. loss probability

1.15

1.14

+0.01

Calmar ratioReturn relative to maximum drawdown

1.10

0.96

+0.14

Martin ratioReturn relative to average drawdown

2.83

2.79

+0.04

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NOBL vs. IEF - Sharpe Ratio Comparison

The current NOBL Sharpe Ratio is 0.88, which is comparable to the IEF Sharpe Ratio of 0.84. The chart below compares the historical Sharpe Ratios of NOBL and IEF, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

NOBLIEFDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.88

0.84

+0.04

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.38

-0.17

+0.55

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.58

0.08

+0.50

Sharpe Ratio (All Time)

Calculated using the full available price history

0.65

0.50

+0.15

Drawdowns

NOBL vs. IEF - Drawdown Comparison

The maximum NOBL drawdown since its inception was -35.43%, which is greater than IEF's maximum drawdown of -23.93%. Use the drawdown chart below to compare losses from any high point for NOBL and IEF.

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Drawdown Indicators

NOBLIEFDifference

Max Drawdown

Largest peak-to-trough decline

-35.43%

-23.93%

-11.50%

Max Drawdown (1Y)

Largest decline over 1 year

-9.11%

-4.07%

-5.04%

Max Drawdown (3Y)

Largest decline over 3 years

-15.36%

-7.74%

-7.62%

Max Drawdown (5Y)

Largest decline over 5 years

-17.92%

-21.40%

+3.48%

Max Drawdown (10Y)

Largest decline over 10 years

-35.43%

-23.93%

-11.50%

Current Drawdown

Current decline from peak

-5.05%

-11.80%

+6.75%

Average Drawdown

Average peak-to-trough decline

-3.48%

-5.35%

+1.87%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.54%

1.40%

+2.14%

Volatility

NOBL vs. IEF - Volatility Comparison

ProShares S&P 500 Dividend Aristocrats ETF (NOBL) has a higher volatility of 2.49% compared to iShares 7-10 Year Treasury Bond ETF (IEF) at 1.51%. This indicates that NOBL's price experiences larger fluctuations and is considered to be riskier than IEF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

NOBLIEFDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.49%

1.51%

+0.98%

Volatility (6M)

Calculated over the trailing 6-month period

8.08%

3.36%

+4.72%

Volatility (1Y)

Calculated over the trailing 1-year period

11.39%

4.69%

+6.70%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.39%

7.71%

+6.68%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.61%

6.63%

+9.98%

NOBL vs. IEF - Expense Ratio Comparison

NOBL has a 0.35% expense ratio, which is higher than IEF's 0.15% expense ratio.

Dividends

NOBL vs. IEF - Dividend Comparison

NOBL's dividend yield for the trailing twelve months is around 2.10%, less than IEF's 3.92% yield.

PositionTTM20252024202320222021202020192018201720162015
IEF
iShares 7-10 Year Treasury Bond ETF		3.92%3.77%3.62%2.91%1.96%0.83%1.08%2.08%2.24%1.82%1.81%1.90%
NOBL
ProShares S&P 500 Dividend Aristocrats ETF		2.10%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 IEF have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

NOBL has higher volatility (2.49%) compared to IEF (1.51%). In terms of maximum drawdown, NOBL dropped -35.43% vs IEF's -23.93%.

On 10-year performance, NOBL leads with 9.58% vs 0.53% for IEF. On fees, IEF is cheaper at 0.15% per year. On volatility, IEF has been the lower-risk option at 1.51%. 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 9.58% return vs 0.53%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IEF is cheaper with a 0.15% expense ratio, compared with 0.35% for NOBL.

IEF has the higher dividend yield at 3.92%, compared with 2.10% for NOBL.

NOBL is categorized as Dividend, while IEF is Government Bonds. NOBL tracks S&P 500 Dividend Aristocrats Index, while IEF tracks ICE U.S. Treasury 7-10 Year Bond Index. They also come from different issuers: ProShares and iShares. Their fees differ too: 0.35% for NOBL and 0.15% for IEF.

NOBL currently has the higher Sharpe Ratio (0.88 vs 0.84), 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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