NOBL vs. SHY
NOBL (ProShares S&P 500 Dividend Aristocrats ETF) and SHY (iShares 1-3 Year Treasury Bond ETF) are both exchange-traded funds - NOBL is a Dividend fund tracking the S&P 500 Dividend Aristocrats Index, while SHY is a Government Bonds fund tracking the ICE US Treasury 1-3 Year Index. Both are passively managed. Over the past 10 years, NOBL returned 9.58%/yr vs 1.63%/yr for SHY. At a correlation of -0.03, they often move in opposite directions. NOBL charges 0.35%/yr vs 0.15%/yr for SHY.
Performance
NOBL vs. SHY - Performance Comparison
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Returns By Period
In the year-to-date period, NOBL achieves a 4.55% return, which is significantly higher than SHY's 0.34% return. Over the past 10 years, NOBL has outperformed SHY with an annualized return of 9.58%, while SHY has yielded a comparatively lower 1.63% 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%
SHY
- 1D
- 0.05%
- 1M
- -0.19%
- YTD
- 0.34%
- 6M
- 0.74%
- 1Y
- 3.33%
- 3Y*
- 4.04%
- 5Y*
- 1.70%
- 10Y*
- 1.63%
NOBL vs. SHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
SHY iShares 1-3 Year Treasury Bond ETF | 0.34% | 4.95% | 3.92% | 4.16% | -3.88% | -0.71% | 3.03% | 3.38% | 1.46% | 0.26% |
Correlation
The correlation between NOBL and SHY is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.20 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.18 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.01 |
Correlation (All Time) Calculated using the full available price history since Oct 10, 2013 | -0.03 |
The correlation between NOBL and SHY shifts across timeframes, from -0.03 (all time) to 0.29 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
NOBL vs. SHY — Risk / Return Rank
NOBL
SHY
NOBL vs. SHY - 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 1-3 Year Treasury Bond ETF (SHY). 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 | SHY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.63 | ||
| Sortino ratioReturn per unit of downside risk | -2.75 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.51 | -0.36 |
| Calmar ratioReturn relative to maximum drawdown | 1.10 | 3.76 | -2.66 |
| Martin ratioReturn relative to average drawdown | 2.83 | 15.12 | -12.30 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| NOBL | SHY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.88 | 2.51 | -1.63 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.38 | 0.86 | -0.48 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.58 | 1.04 | -0.46 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.65 | 1.28 | -0.63 |
Drawdowns
NOBL vs. SHY - Drawdown Comparison
The maximum NOBL drawdown since its inception was -35.43%, which is greater than SHY's maximum drawdown of -5.71%. Use the drawdown chart below to compare losses from any high point for NOBL and SHY.
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Drawdown Indicators
| NOBL | SHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.43% | -5.71% | -29.72% |
Max Drawdown (1Y)Largest decline over 1 year | -9.11% | -0.89% | -8.22% |
Max Drawdown (3Y)Largest decline over 3 years | -15.36% | -0.97% | -14.39% |
Max Drawdown (5Y)Largest decline over 5 years | -17.92% | -5.71% | -12.21% |
Max Drawdown (10Y)Largest decline over 10 years | -35.43% | -5.71% | -29.72% |
Current DrawdownCurrent decline from peak | -5.05% | -0.39% | -4.66% |
Average DrawdownAverage peak-to-trough decline | -3.48% | -0.52% | -2.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.54% | 0.22% | +3.32% |
Volatility
NOBL vs. SHY - Volatility Comparison
ProShares S&P 500 Dividend Aristocrats ETF (NOBL) has a higher volatility of 2.49% compared to iShares 1-3 Year Treasury Bond ETF (SHY) at 0.38%. This indicates that NOBL's price experiences larger fluctuations and is considered to be riskier than SHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NOBL | SHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.49% | 0.38% | +2.11% |
Volatility (6M)Calculated over the trailing 6-month period | 8.08% | 0.95% | +7.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.39% | 1.33% | +10.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.39% | 1.99% | +12.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.61% | 1.57% | +15.04% |
NOBL vs. SHY - Expense Ratio Comparison
NOBL has a 0.35% expense ratio, which is higher than SHY's 0.15% expense ratio.
Dividends
NOBL vs. SHY - Dividend Comparison
NOBL's dividend yield for the trailing twelve months is around 2.10%, less than SHY's 3.69% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
SHY iShares 1-3 Year Treasury Bond ETF | 3.69% | 3.81% | 3.92% | 2.99% | 1.30% | 0.26% | 0.94% | 2.12% | 1.72% | 0.98% | 0.71% | 0.54% |
Frequently Asked Questions
NOBL and SHY have a correlation of 0.29, 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 SHY (0.38%). In terms of maximum drawdown, NOBL dropped -35.43% vs SHY's -5.71%.
On 10-year performance, NOBL leads with 9.58% vs 1.63% for SHY. On fees, SHY is cheaper at 0.15% per year. On volatility, SHY has been the lower-risk option at 0.38%. 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 1.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SHY is cheaper with a 0.15% expense ratio, compared with 0.35% for NOBL.
SHY has the higher dividend yield at 3.69%, compared with 2.10% for NOBL.
NOBL is categorized as Dividend, while SHY is Government Bonds. NOBL tracks S&P 500 Dividend Aristocrats Index, while SHY tracks ICE US Treasury 1-3 Year Index. They also come from different issuers: ProShares and iShares. Their fees differ too: 0.35% for NOBL and 0.15% for SHY.
SHY currently has the higher Sharpe Ratio (2.51 vs 0.88), 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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