NOBL vs. KNGLX

Last updated Aug 4, 2026

NOBL (ProShares S&P 500 Dividend Aristocrats ETF) and KNGLX (CBOE Vest S&P 500 Dividend Aristocrats Target Income Fund) are both funds - NOBL is a Dividend fund tracking the S&P 500 Dividend Aristocrats Index, while KNGLX is a Derivative Income fund tracking the Cboe S&P 500 Dividend Aristocrats Target Income Index Monthly Series. Both are passively managed. Over the past 5 years, NOBL returned 6.69%/yr vs 4.69%/yr for KNGLX. Their 0.97 correlation means they have historically moved very closely together. NOBL charges 0.35%/yr vs 1.20%/yr for KNGLX.

Performance

NOBL vs. KNGLX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares S&P 500 Dividend Aristocrats ETF (NOBL) and CBOE Vest S&P 500 Dividend Aristocrats Target Income Fund (KNGLX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NOBL achieves a 11.50% return, which is significantly higher than KNGLX's 9.30% 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%

KNGLX

• 1D: -0.17%
• 1M: -1.12%
• 6M: 3.75%
• YTD: 9.30%
• 1Y: 13.75%
• 3Y*: 5.85%
• 5Y*: 4.69%
• 10Y*: —
• ALL TIME*: 7.65%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
KNGLX CBOE Vest S&P 500 Dividend Aristocrats Target Income Fund	$0.00	$0.00	$0.00
NOBL ProShares S&P 500 Dividend Aristocrats ETF	$70.34M	$67.56M	$62.19M

NOBL vs. KNGLX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
NOBL ProShares S&P 500 Dividend Aristocrats ETF	11.50%	6.84%	6.72%	8.09%	-6.52%	25.46%	8.35%	27.39%	-3.26%
KNGLX CBOE Vest S&P 500 Dividend Aristocrats Target Income Fund	9.30%	6.43%	2.91%	6.46%	-7.29%	23.23%	7.08%	26.58%	-4.64%

Correlation

The correlation between NOBL and KNGLX is 0.99 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.99
Correlation (3Y) Balances recent behavior with more history.	0.96
Correlation (5Y) Shows whether the relationship held over a longer period.	0.98
Correlation (All Time) Calculated using the full available price history since Jan 2, 2018	0.97

The correlation between NOBL and KNGLX has been stable across timeframes, ranging from 0.96 to 0.99 - a consistent structural relationship.

Return for Risk

NOBL vs. KNGLX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

NOBL

NOBL Risk / Return Rank: 51
NOBL Sharpe Ratio Rank: 56
NOBL Sortino Ratio Rank: 60
NOBL Omega Ratio Rank: 50
NOBL Calmar Ratio Rank: 48
NOBL Martin Ratio Rank: 42

KNGLX

KNGLX Risk / Return Rank: 32
KNGLX Sharpe Ratio Rank: 34
KNGLX Sortino Ratio Rank: 37
KNGLX Omega Ratio Rank: 31
KNGLX Calmar Ratio Rank: 32
KNGLX Martin Ratio Rank: 26

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

NOBL vs. KNGLX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares S&P 500 Dividend Aristocrats ETF (NOBL) and CBOE Vest S&P 500 Dividend Aristocrats Target Income Fund (KNGLX). 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	KNGLX	Difference
Sharpe ratio: Return per unit of total volatility	1.36	1.17	+0.19
Sortino ratio: Return per unit of downside risk	2.07	1.81	+0.26
Omega ratio: Gain probability vs. loss probability	1.23	1.20	+0.03
Calmar ratio: Return relative to maximum drawdown	1.77	1.49	+0.28
Martin ratio: Return relative to average drawdown	4.49	3.90	+0.59

NOBL vs. KNGLX - Sharpe Ratio Comparison

The current NOBL Sharpe Ratio is 1.36, which is comparable to the KNGLX Sharpe Ratio of 1.17. The chart below compares the historical Sharpe Ratios of NOBL and KNGLX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

NOBL vs. KNGLX - Drawdown Comparison

The maximum NOBL drawdown since its inception was -35.43%, which is greater than KNGLX's maximum drawdown of -31.48%. Use the drawdown chart below to compare losses from any high point for NOBL and KNGLX.

Drawdown Indicators

	NOBL	KNGLX	Difference
Max Drawdown Largest peak-to-trough decline	-35.43%	-31.48%	-3.95%
Max Drawdown (1Y) Largest decline over 1 year	-9.11%	-8.90%	-0.21%
Max Drawdown (3Y) Largest decline over 3 years	-15.36%	-14.79%	-0.57%
Max Drawdown (5Y) Largest decline over 5 years	-17.92%	-18.25%	+0.33%
Max Drawdown (10Y) Largest decline over 10 years	-35.43%	—	—
Current Drawdown Current decline from peak	-1.73%	-2.21%	+0.48%
Average Drawdown Average peak-to-trough decline	-3.46%	-4.57%	+1.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.59%	3.39%	+0.20%

Volatility

NOBL vs. KNGLX - Volatility Comparison

ProShares S&P 500 Dividend Aristocrats ETF (NOBL) and CBOE Vest S&P 500 Dividend Aristocrats Target Income Fund (KNGLX) have volatilities of 4.72% and 4.79%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NOBL	KNGLX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.72%	4.79%	-0.07%
Volatility (6M) Calculated over the trailing 6-month period	9.11%	8.79%	+0.32%
Volatility (1Y) Calculated over the trailing 1-year period	11.92%	11.33%	+0.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.48%	14.09%	+0.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.64%	17.10%	-0.46%

NOBL vs. KNGLX - Expense Ratio Comparison

NOBL has a 0.35% expense ratio, which is lower than KNGLX's 1.20% expense ratio.

Dividends

NOBL vs. KNGLX - Dividend Comparison

NOBL's dividend yield for the trailing twelve months is around 2.03%, less than KNGLX's 12.27% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
KNGLX CBOE Vest S&P 500 Dividend Aristocrats Target Income Fund	12.27%	8.02%	9.60%	7.99%	4.54%	4.41%	3.53%	4.53%	4.74%	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

Can I hold both NOBL and KNGLX in my portfolio?

With a correlation of 0.99, NOBL and KNGLX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, NOBL or KNGLX?

KNGLX has higher volatility (4.79%) compared to NOBL (4.72%). In terms of maximum drawdown, NOBL dropped -35.43% vs KNGLX's -31.48%.

Which has better risk-adjusted returns?

NOBL currently has the higher Sharpe Ratio (1.36 vs 1.17), 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.