SBIT vs. NOBL

Last updated Jun 4, 2026

SBIT (Proshares Ultrashort Bitcoin ETF) and NOBL (ProShares S&P 500 Dividend Aristocrats ETF) are both exchange-traded funds - SBIT is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index (-200%), while NOBL is a Dividend fund tracking the S&P 500 Dividend Aristocrats Index. Both are passively managed. Over the past year, SBIT returned 68.00% vs 9.00% for NOBL. At a correlation of -0.19, they often move in opposite directions. SBIT charges 0.95%/yr vs 0.35%/yr for NOBL.

Performance

SBIT vs. NOBL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Proshares Ultrashort Bitcoin ETF (SBIT) and ProShares S&P 500 Dividend Aristocrats ETF (NOBL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SBIT achieves a 37.02% return, which is significantly higher than NOBL's 3.51% return.

SBIT

• 1D: 5.42%
• 1M: 46.58%
• YTD: 37.02%
• 6M: 52.37%
• 1Y: 68.00%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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%

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

SBIT vs. NOBL - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SBIT Proshares Ultrashort Bitcoin ETF	37.02%	-25.11%	-73.13%
NOBL ProShares S&P 500 Dividend Aristocrats ETF	3.51%	6.84%	1.13%

Correlation

The correlation between SBIT and NOBL is -0.18, 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	-0.18
Correlation (All Time) Calculated using the full available price history since Apr 3, 2024	-0.19

Return for Risk

SBIT vs. NOBL — Risk / Return Rank

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

SBIT

SBIT Risk / Return Rank: 26
SBIT Sharpe Ratio Rank: 22
SBIT Sortino Ratio Rank: 28
SBIT Omega Ratio Rank: 27
SBIT Calmar Ratio Rank: 29
SBIT Martin Ratio Rank: 22

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

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.

SBIT vs. NOBL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Proshares Ultrashort Bitcoin ETF (SBIT) and ProShares S&P 500 Dividend Aristocrats ETF (NOBL). 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.

	SBIT	NOBL	Difference
Sharpe ratio: Return per unit of total volatility	0.78	0.80	-0.01
Sortino ratio: Return per unit of downside risk	1.54	1.24	+0.29
Omega ratio: Gain probability vs. loss probability	1.18	1.14	+0.05
Calmar ratio: Return relative to maximum drawdown	1.43	0.99	+0.43
Martin ratio: Return relative to average drawdown	2.76	2.58	+0.18
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SBIT vs. NOBL - Sharpe Ratio Comparison

The current SBIT Sharpe Ratio is 0.78, which is comparable to the NOBL Sharpe Ratio of 0.80. The chart below compares the historical Sharpe Ratios of SBIT and NOBL, 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

	SBIT	NOBL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.78	0.80	-0.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.35	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.57	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.46	0.64	-1.11

Drawdowns

SBIT vs. NOBL - Drawdown Comparison

The maximum SBIT drawdown since its inception was -91.35%, which is greater than NOBL's maximum drawdown of -35.43%. Use the drawdown chart below to compare losses from any high point for SBIT and NOBL.

Drawdown Indicators

	SBIT	NOBL	Difference
Max Drawdown Largest peak-to-trough decline	-91.35%	-35.43%	-55.92%
Max Drawdown (1Y) Largest decline over 1 year	-47.94%	-9.11%	-38.83%
Max Drawdown (3Y) Largest decline over 3 years	—	-15.36%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-17.92%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-35.43%	—
Current Drawdown Current decline from peak	-78.26%	-5.99%	-72.27%
Average Drawdown Average peak-to-trough decline	-68.55%	-3.48%	-65.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	24.69%	3.50%	+21.19%

Volatility

SBIT vs. NOBL - Volatility Comparison

Proshares Ultrashort Bitcoin ETF (SBIT) has a higher volatility of 18.22% compared to ProShares S&P 500 Dividend Aristocrats ETF (NOBL) at 2.36%. This indicates that SBIT's price experiences larger fluctuations and is considered to be riskier than NOBL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SBIT	NOBL	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.22%	2.36%	+15.86%
Volatility (6M) Calculated over the trailing 6-month period	68.46%	8.00%	+60.46%
Volatility (1Y) Calculated over the trailing 1-year period	87.18%	11.33%	+75.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	97.47%	14.38%	+83.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	97.47%	16.60%	+80.87%

SBIT vs. NOBL - Expense Ratio Comparison

SBIT has a 0.95% expense ratio, which is higher than NOBL's 0.35% expense ratio.

Dividends

SBIT vs. NOBL - Dividend Comparison

SBIT's dividend yield for the trailing twelve months is around 3.42%, more than NOBL's 2.12% 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%
SBIT Proshares Ultrashort Bitcoin ETF	3.42%	0.52%	1.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SBIT and NOBL in my portfolio?

SBIT and NOBL have a correlation of -0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SBIT or NOBL?

SBIT has higher volatility (18.22%) compared to NOBL (2.36%). In terms of maximum drawdown, SBIT dropped -91.35% vs NOBL's -35.43%.

Which ETF is better, SBIT or NOBL?

On 1-year performance, SBIT leads with 68.00% vs 9.00% 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, SBIT or NOBL?

Over the 1-year period, SBIT has performed better with a 68.00% return vs 9.00%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SBIT or NOBL?

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

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

SBIT has the higher dividend yield at 3.42%, compared with 2.12% for NOBL.

What is the main difference between SBIT and NOBL?

SBIT is categorized as Cryptocurrency, while NOBL is Dividend. SBIT tracks Bloomberg Bitcoin Index (-200%), while NOBL tracks S&P 500 Dividend Aristocrats Index. Their fees differ too: 0.95% for SBIT and 0.35% for NOBL.

Which has better risk-adjusted returns?

NOBL currently has the higher Sharpe Ratio (0.80 vs 0.78), 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.