NOBL vs. TQQQ

Last updated Jun 4, 2026

NOBL (ProShares S&P 500 Dividend Aristocrats ETF) and TQQQ (ProShares UltraPro QQQ) are both exchange-traded funds - NOBL is a Dividend fund tracking the S&P 500 Dividend Aristocrats Index, while TQQQ is a Leveraged Equities fund tracking the NASDAQ-100 Index (300%). Both are passively managed. Over the past 10 years, NOBL returned 9.51%/yr vs 45.33%/yr for TQQQ. A 0.59 correlation means they provide meaningful diversification when combined. NOBL charges 0.35%/yr vs 0.95%/yr for TQQQ.

Performance

NOBL vs. TQQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares S&P 500 Dividend Aristocrats ETF (NOBL) and ProShares UltraPro QQQ (TQQQ). 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 TQQQ's 64.46% return. Over the past 10 years, NOBL has underperformed TQQQ with an annualized return of 9.51%, while TQQQ has yielded a comparatively higher 45.33% 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%

TQQQ

• 1D: -0.76%
• 1M: 33.35%
• YTD: 64.46%
• 6M: 55.93%
• 1Y: 137.89%
• 3Y*: 69.49%
• 5Y*: 28.37%
• 10Y*: 45.33%

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

NOBL vs. TQQQ - 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%
TQQQ ProShares UltraPro QQQ	64.46%	34.35%	58.27%	198.04%	-79.09%	82.98%	110.05%	133.84%	-19.79%	118.06%

Correlation

The correlation between NOBL and TQQQ is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.24
Correlation (3Y) Calculated over the trailing 3-year period	0.35
Correlation (5Y) Calculated over the trailing 5-year period	0.51
Correlation (10Y) Calculated over the trailing 10-year period	0.55
Correlation (All Time) Calculated using the full available price history since Oct 11, 2013	0.59

Over the past year, the correlation between NOBL and TQQQ has dropped to 0.24 - well below their long-term average of 0.59, suggesting their price drivers have been diverging.

NOBL vs. TQQQ - Sectors Allocation Comparison

Sectors	NOBL	TQQQ
Consumer Defensive	23.5%	7.7%
Industrials	20.3%	2.8%
Financial Services	12.4%	0.2%
Basic Materials	10.9%	1.1%
Healthcare	9.7%	4.2%
Utilities	6.4%	1.4%
Consumer Cyclical	5.1%	12.3%
Real Estate	4.6%	0.1%
Technology	3.6%	53.8%
Energy	3.4%	0.6%
Communication Services	-	15.8%

Return for Risk

NOBL vs. TQQQ — 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

TQQQ

TQQQ Risk / Return Rank: 71
TQQQ Sharpe Ratio Rank: 86
TQQQ Sortino Ratio Rank: 65
TQQQ Omega Ratio Rank: 65
TQQQ Calmar Ratio Rank: 73
TQQQ Martin Ratio Rank: 66

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. TQQQ - 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 UltraPro QQQ (TQQQ). 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	TQQQ	Difference
Sharpe ratio: Return per unit of total volatility	0.80	2.92	-2.12
Sortino ratio: Return per unit of downside risk	1.24	3.09	-1.85
Omega ratio: Gain probability vs. loss probability	1.14	1.40	-0.26
Calmar ratio: Return relative to maximum drawdown	0.99	3.75	-2.76
Martin ratio: Return relative to average drawdown	2.58	12.27	-9.69
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. TQQQ - Sharpe Ratio Comparison

The current NOBL Sharpe Ratio is 0.80, which is lower than the TQQQ Sharpe Ratio of 2.92. The chart below compares the historical Sharpe Ratios of NOBL and TQQQ, 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	TQQQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.80	2.92	-2.12
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.35	0.43	-0.08
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.57	0.69	-0.12
Sharpe Ratio (All Time) Calculated using the full available price history	0.64	0.74	-0.09

Drawdowns

NOBL vs. TQQQ - Drawdown Comparison

The maximum NOBL drawdown since its inception was -35.43%, smaller than the maximum TQQQ drawdown of -81.66%. Use the drawdown chart below to compare losses from any high point for NOBL and TQQQ.

Drawdown Indicators

	NOBL	TQQQ	Difference
Max Drawdown Largest peak-to-trough decline	-35.43%	-81.66%	+46.23%
Max Drawdown (1Y) Largest decline over 1 year	-9.11%	-36.97%	+27.86%
Max Drawdown (3Y) Largest decline over 3 years	-15.36%	-58.04%	+42.68%
Max Drawdown (5Y) Largest decline over 5 years	-17.92%	-81.66%	+63.74%
Max Drawdown (10Y) Largest decline over 10 years	-35.43%	-81.66%	+46.23%
Current Drawdown Current decline from peak	-5.99%	-0.76%	-5.23%
Average Drawdown Average peak-to-trough decline	-3.48%	-18.52%	+15.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.50%	11.28%	-7.78%

Volatility

NOBL vs. TQQQ - Volatility Comparison

The current volatility for ProShares S&P 500 Dividend Aristocrats ETF (NOBL) is 2.36%, while ProShares UltraPro QQQ (TQQQ) has a volatility of 13.29%. This indicates that NOBL experiences smaller price fluctuations and is considered to be less risky than TQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NOBL	TQQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.36%	13.29%	-10.93%
Volatility (6M) Calculated over the trailing 6-month period	8.00%	36.04%	-28.04%
Volatility (1Y) Calculated over the trailing 1-year period	11.33%	47.60%	-36.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.38%	66.53%	-52.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.60%	65.96%	-49.36%

NOBL vs. TQQQ - Expense Ratio Comparison

NOBL has a 0.35% expense ratio, which is lower than TQQQ's 0.95% expense ratio.

Dividends

NOBL vs. TQQQ - Dividend Comparison

NOBL's dividend yield for the trailing twelve months is around 2.12%, more than TQQQ's 0.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
TQQQ ProShares UltraPro QQQ	0.36%	0.65%	1.27%	1.26%	0.57%	0.00%	0.00%	0.06%	0.11%	0.00%	0.00%	0.01%

Frequently Asked Questions

Can I hold both NOBL and TQQQ in my portfolio?

NOBL and TQQQ have a correlation of 0.24, 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 TQQQ?

TQQQ has higher volatility (13.29%) compared to NOBL (2.36%). In terms of maximum drawdown, NOBL dropped -35.43% vs TQQQ's -81.66%.

Which ETF is better, NOBL or TQQQ?

On 10-year performance, TQQQ leads with 45.33% vs 9.51% for NOBL. On fees, NOBL is cheaper at 0.35% 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 TQQQ?

Over the 10-year period, TQQQ has performed better with a 45.33% 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 TQQQ?

NOBL is cheaper with a 0.35% expense ratio, compared with 0.95% for TQQQ.

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

NOBL has the higher dividend yield at 2.12%, compared with 0.36% for TQQQ.

What is the main difference between NOBL and TQQQ?

NOBL is categorized as Dividend, while TQQQ is Leveraged Equities. NOBL tracks S&P 500 Dividend Aristocrats Index, while TQQQ tracks NASDAQ-100 Index (300%). Their fees differ too: 0.35% for NOBL and 0.95% for TQQQ.

Which has better risk-adjusted returns?

TQQQ currently has the higher Sharpe Ratio (2.92 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.