NOBL vs. IVV

Last updated Jun 4, 2026

NOBL (ProShares S&P 500 Dividend Aristocrats ETF) and IVV (iShares Core S&P 500 ETF) are both exchange-traded funds - NOBL is a Dividend fund tracking the S&P 500 Dividend Aristocrats Index, while IVV is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, NOBL returned 9.51%/yr vs 15.54%/yr for IVV. Their correlation of 0.80 suggests significant overlap in exposure. NOBL charges 0.35%/yr vs 0.03%/yr for IVV.

Performance

NOBL vs. IVV - 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 Core S&P 500 ETF (IVV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NOBL achieves a 3.51% return, which is significantly lower than IVV's 10.85% return. Over the past 10 years, NOBL has underperformed IVV with an annualized return of 9.51%, while IVV has yielded a comparatively higher 15.54% annualized return.

NOBL

• 1D: -0.17%
• 1M: 1.01%
• YTD: 3.51%
• 6M: 3.45%
• 1Y: 9.00%
• 3Y*: 8.01%
• 5Y*: 5.03%
• 10Y*: 9.51%

IVV

• 1D: -0.76%
• 1M: 4.97%
• YTD: 10.85%
• 6M: 10.87%
• 1Y: 28.00%
• 3Y*: 22.43%
• 5Y*: 13.88%
• 10Y*: 15.54%

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

NOBL vs. IVV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NOBL ProShares S&P 500 Dividend Aristocrats ETF	3.51%	6.84%	6.72%	8.09%	-6.52%	25.46%	8.35%	27.39%	-3.26%	21.02%
IVV iShares Core S&P 500 ETF	10.85%	17.85%	24.93%	26.31%	-18.16%	28.76%	18.40%	31.07%	-4.49%	21.75%

Correlation

The correlation between NOBL and IVV is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.44
Correlation (3Y) Calculated over the trailing 3-year period	0.57
Correlation (5Y) Calculated over the trailing 5-year period	0.71
Correlation (10Y) Calculated over the trailing 10-year period	0.77
Correlation (All Time) Calculated using the full available price history since Oct 11, 2013	0.80

Over the past year, the correlation between NOBL and IVV has dropped to 0.44 - well below their long-term average of 0.80, suggesting their price drivers have been diverging.

NOBL vs. IVV - Sectors Allocation Comparison

Sectors	NOBL	IVV
Consumer Defensive	23.5%	4.9%
Industrials	20.3%	8.3%
Financial Services	12.4%	11.8%
Basic Materials	10.9%	1.8%
Healthcare	9.7%	8.5%
Utilities	6.4%	2.4%
Consumer Cyclical	5.1%	10.1%
Real Estate	4.6%	1.9%
Technology	3.6%	35.6%
Energy	3.4%	3.5%
Communication Services	-	11.2%

Return for Risk

NOBL vs. IVV — Risk / Return Rank

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

NOBL

NOBL Risk / Return Rank: 22
NOBL Sharpe Ratio Rank: 22
NOBL Sortino Ratio Rank: 23
NOBL Omega Ratio Rank: 20
NOBL Calmar Ratio Rank: 22
NOBL Martin Ratio Rank: 21

IVV

IVV Risk / Return Rank: 70
IVV Sharpe Ratio Rank: 71
IVV Sortino Ratio Rank: 70
IVV Omega Ratio Rank: 70
IVV Calmar Ratio Rank: 62
IVV Martin Ratio Rank: 75

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. IVV - 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 Core S&P 500 ETF (IVV). 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.

	NOBL	IVV	Difference
Sharpe ratio: Return per unit of total volatility	0.80	2.39	-1.59
Sortino ratio: Return per unit of downside risk	1.24	3.25	-2.01
Omega ratio: Gain probability vs. loss probability	1.14	1.43	-0.29
Calmar ratio: Return relative to maximum drawdown	0.99	3.17	-2.17
Martin ratio: Return relative to average drawdown	2.58	14.71	-12.13
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. IVV - Sharpe Ratio Comparison

The current NOBL Sharpe Ratio is 0.80, which is lower than the IVV Sharpe Ratio of 2.39. The chart below compares the historical Sharpe Ratios of NOBL and IVV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	NOBL	IVV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.80	2.39	-1.59
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.35	0.83	-0.48
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.57	0.86	-0.29
Sharpe Ratio (All Time) Calculated using the full available price history	0.64	0.45	+0.19

Drawdowns

NOBL vs. IVV - Drawdown Comparison

The maximum NOBL drawdown since its inception was -35.43%, smaller than the maximum IVV drawdown of -55.25%. Use the drawdown chart below to compare losses from any high point for NOBL and IVV.

Drawdown Indicators

	NOBL	IVV	Difference
Max Drawdown Largest peak-to-trough decline	-35.43%	-55.25%	+19.82%
Max Drawdown (1Y) Largest decline over 1 year	-9.11%	-8.89%	-0.22%
Max Drawdown (3Y) Largest decline over 3 years	-15.36%	-18.75%	+3.39%
Max Drawdown (5Y) Largest decline over 5 years	-17.92%	-24.53%	+6.61%
Max Drawdown (10Y) Largest decline over 10 years	-35.43%	-33.90%	-1.53%
Current Drawdown Current decline from peak	-5.99%	-0.76%	-5.23%
Average Drawdown Average peak-to-trough decline	-3.48%	-10.78%	+7.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.50%	1.91%	+1.59%

Volatility

NOBL vs. IVV - Volatility Comparison

The current volatility for ProShares S&P 500 Dividend Aristocrats ETF (NOBL) is 2.36%, while iShares Core S&P 500 ETF (IVV) has a volatility of 2.87%. This indicates that NOBL experiences smaller price fluctuations and is considered to be less risky than IVV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NOBL	IVV	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.36%	2.87%	-0.51%
Volatility (6M) Calculated over the trailing 6-month period	8.00%	8.90%	-0.90%
Volatility (1Y) Calculated over the trailing 1-year period	11.33%	11.80%	-0.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.38%	16.88%	-2.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.60%	18.05%	-1.45%

NOBL vs. IVV - Expense Ratio Comparison

NOBL has a 0.35% expense ratio, which is higher than IVV's 0.03% expense ratio.

Dividends

NOBL vs. IVV - Dividend Comparison

NOBL's dividend yield for the trailing twelve months is around 2.12%, more than IVV's 1.06% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IVV iShares Core S&P 500 ETF	1.06%	1.17%	1.30%	1.44%	1.66%	1.20%	1.57%	1.85%	2.21%	1.75%	2.01%	2.27%
NOBL ProShares S&P 500 Dividend Aristocrats ETF	2.12%	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 NOBL and IVV in my portfolio?

NOBL and IVV have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NOBL or IVV?

IVV has higher volatility (2.87%) compared to NOBL (2.36%). In terms of maximum drawdown, NOBL dropped -35.43% vs IVV's -55.25%.

Which ETF is better, NOBL or IVV?

On 10-year performance, IVV leads with 15.54% vs 9.51% for NOBL. On fees, IVV is cheaper at 0.03% per year. On volatility, NOBL has been the lower-risk option at 2.36%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NOBL or IVV?

Over the 10-year period, IVV has performed better with a 15.54% return vs 9.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NOBL or IVV?

IVV is cheaper with a 0.03% expense ratio, compared with 0.35% for NOBL.

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

NOBL has the higher dividend yield at 2.12%, compared with 1.06% for IVV.

What is the main difference between NOBL and IVV?

NOBL is categorized as Dividend, while IVV is S&P 500. NOBL tracks S&P 500 Dividend Aristocrats Index, while IVV tracks S&P 500 Index. They also come from different issuers: ProShares and iShares. Their fees differ too: 0.35% for NOBL and 0.03% for IVV.

Which has better risk-adjusted returns?

IVV currently has the higher Sharpe Ratio (2.39 vs 0.80), 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.