NOBL vs. UVXY
NOBL (ProShares S&P 500 Dividend Aristocrats ETF) and UVXY (ProShares Ultra VIX Short-Term Futures ETF) are both exchange-traded funds - NOBL is a Dividend fund tracking the S&P 500 Dividend Aristocrats Index, while UVXY is a Volatility fund tracking the S&P 500 VIX SHORT-TERM FUTURES TR (150%). Both are passively managed. Over the past 10 years, NOBL returned 9.56%/yr vs -72.11%/yr for UVXY. At a correlation of -0.64, they often move in opposite directions. NOBL charges 0.35%/yr vs 0.95%/yr for UVXY.
Performance
NOBL vs. UVXY - Performance Comparison
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Returns By Period
In the year-to-date period, NOBL achieves a 9.33% return, which is significantly higher than UVXY's -33.76% return. Over the past 10 years, NOBL has outperformed UVXY with an annualized return of 9.56%, while UVXY has yielded a comparatively lower -72.11% annualized return.
NOBL
- 1D
- -1.15%
- 1M
- 1.76%
- 6M
- 5.17%
- YTD
- 9.33%
- 1Y
- 12.04%
- 3Y*
- 8.22%
- 5Y*
- 6.45%
- 10Y*
- 9.56%
UVXY
- 1D
- -2.14%
- 1M
- -17.16%
- 6M
- -33.16%
- YTD
- -33.76%
- 1Y
- -72.68%
- 3Y*
- -62.00%
- 5Y*
- -67.84%
- 10Y*
- -72.11%
NOBL vs. UVXY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NOBL ProShares S&P 500 Dividend Aristocrats ETF | 9.33% | 6.84% | 6.72% | 8.09% | -6.52% | 25.46% | 8.35% | 27.39% | -3.26% | 21.02% |
UVXY ProShares Ultra VIX Short-Term Futures ETF | -33.76% | -65.32% | -50.90% | -87.70% | -44.81% | -88.33% | -17.38% | -84.23% | 60.10% | -94.17% |
Correlation
The correlation between NOBL and UVXY is -0.36, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.36 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.46 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.55 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.59 |
Correlation (All Time) Calculated using the full available price history since Oct 10, 2013 | -0.64 |
Over the past year, the inverse relationship between NOBL and UVXY has weakened: their correlation has moved from -0.64 to -0.36, meaning they move in opposite directions less often than they have historically.
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Return for Risk
NOBL vs. UVXY — Risk / Return Rank
NOBL
UVXY
NOBL vs. UVXY - 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 Ultra VIX Short-Term Futures ETF (UVXY). 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 | UVXY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.89 | ||
| Sortino ratioReturn per unit of downside risk | +3.15 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 0.82 | +0.35 |
| Calmar ratioReturn relative to maximum drawdown | 1.33 | -0.99 | +2.32 |
| Martin ratioReturn relative to average drawdown | 3.36 | -1.48 | +4.84 |
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Drawdowns
NOBL vs. UVXY - Drawdown Comparison
The maximum NOBL drawdown since its inception was -35.43%, smaller than the maximum UVXY drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for NOBL and UVXY.
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Drawdown Indicators
| NOBL | UVXY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.43% | -100.00% | +64.57% |
Max Drawdown (1Y)Largest decline over 1 year | -9.11% | -73.42% | +64.31% |
Max Drawdown (3Y)Largest decline over 3 years | -15.36% | -95.32% | +79.96% |
Max Drawdown (5Y)Largest decline over 5 years | -17.92% | -99.74% | +81.82% |
Max Drawdown (10Y)Largest decline over 10 years | -35.43% | -100.00% | +64.57% |
Current DrawdownCurrent decline from peak | -2.44% | -100.00% | +97.56% |
Average DrawdownAverage peak-to-trough decline | -3.47% | -98.75% | +95.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.59% | 49.12% | -45.53% |
Volatility
NOBL vs. UVXY - Volatility Comparison
The current volatility for ProShares S&P 500 Dividend Aristocrats ETF (NOBL) is 4.11%, while ProShares Ultra VIX Short-Term Futures ETF (UVXY) has a volatility of 20.24%. This indicates that NOBL experiences smaller price fluctuations and is considered to be less risky than UVXY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NOBL | UVXY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.11% | 20.24% | -16.13% |
Volatility (6M)Calculated over the trailing 6-month period | 8.54% | 66.67% | -58.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.67% | 85.34% | -73.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.43% | 103.83% | -89.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.60% | 112.04% | -95.44% |
NOBL vs. UVXY - Expense Ratio Comparison
NOBL has a 0.35% expense ratio, which is lower than UVXY's 0.95% expense ratio.
Dividends
NOBL vs. UVXY - Dividend Comparison
NOBL's dividend yield for the trailing twelve months is around 2.07%, while UVXY has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NOBL ProShares S&P 500 Dividend Aristocrats ETF | 2.07% | 2.14% | 2.05% | 2.09% | 1.94% | 1.89% | 2.14% | 1.89% | 2.37% | 1.74% | 2.13% | 2.02% |
UVXY ProShares Ultra VIX Short-Term Futures ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
NOBL and UVXY have a correlation of -0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UVXY has higher volatility (20.24%) compared to NOBL (4.11%). In terms of maximum drawdown, NOBL dropped -35.43% vs UVXY's -100.00%.
On 10-year performance, NOBL leads with 9.56% vs -72.11% for UVXY. On fees, NOBL is cheaper at 0.35% per year. On volatility, NOBL has been the lower-risk option at 4.11%. 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 9.56% return vs -72.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
NOBL is cheaper with a 0.35% expense ratio, compared with 0.95% for UVXY.
NOBL has the higher dividend yield at 2.07%, compared with 0.00% for UVXY.
NOBL is categorized as Dividend, while UVXY is Volatility. NOBL tracks S&P 500 Dividend Aristocrats Index, while UVXY tracks S&P 500 VIX SHORT-TERM FUTURES TR (150%). Their fees differ too: 0.35% for NOBL and 0.95% for UVXY.
NOBL currently has the higher Sharpe Ratio (1.04 vs -0.85), 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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