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SQQQ vs. NOBL
Performance
Return for Risk
Dividends
Drawdowns
Volatility

SQQQ vs. NOBL

Last updated Apr 2, 2026

Compare and contrast key facts about ProShares UltraPro Short QQQ (SQQQ) and ProShares S&P 500 Dividend Aristocrats ETF (NOBL).

SQQQ and NOBL are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SQQQ is a passively managed fund by ProShares that tracks the performance of the NASDAQ-100 Index (-300%). It was launched on Feb 9, 2010. NOBL is a passively managed fund by ProShares that tracks the performance of the S&P 500 Dividend Aristocrats Index. It was launched on Oct 9, 2013. Both SQQQ and NOBL are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

SQQQ vs. NOBL - Performance Comparison

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

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SQQQ vs. NOBL - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SQQQ
ProShares UltraPro Short QQQ		13.99%-53.05%-49.79%-73.61%82.40%-60.87%-86.40%-65.92%-20.83%-58.67%
NOBL
ProShares S&P 500 Dividend Aristocrats ETF		2.32%6.84%6.72%8.09%-6.52%25.46%8.35%27.39%-3.26%21.02%

Returns By Period

In the year-to-date period, SQQQ achieves a 13.99% return, which is significantly higher than NOBL's 2.32% return. Over the past 10 years, SQQQ has underperformed NOBL with an annualized return of -52.71%, while NOBL has yielded a comparatively higher 9.54% annualized return.

SQQQ

1D
-3.78%
1M
10.61%
YTD
13.99%
6M
6.42%
1Y
-56.13%
3Y*
-49.39%
5Y*
-42.70%
10Y*
-52.71%

NOBL

1D
-0.04%
1M
-6.79%
YTD
2.32%
6M
4.06%
1Y
6.18%
3Y*
7.40%
5Y*
6.30%
10Y*
9.54%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

ProShares UltraPro Short QQQ

ProShares S&P 500 Dividend Aristocrats ETF

Often compared with SQQQ:
SQQQ vs. TQQQSQQQ vs. QQQSQQQ vs. PSQSQQQ vs. SOXSSQQQ vs. UVXYSQQQ vs. SPXUSQQQ vs. QID
Often compared with NOBL:
NOBL vs. SCHDNOBL vs. VIGNOBL vs. SPYNOBL vs. DGRONOBL vs. SDYNOBL vs. VOONOBL vs. KNG

SQQQ vs. NOBL - Expense Ratio Comparison

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

SQQQ
ProShares UltraPro Short QQQ
NOBL
ProShares S&P 500 Dividend Aristocrats ETF

Return for Risk

SQQQ vs. NOBL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SQQQ
SQQQ Risk / Return Rank: 22
Overall Rank
SQQQ Sharpe Ratio Rank: 11
Sharpe Ratio Rank
SQQQ Sortino Ratio Rank: 11
Sortino Ratio Rank
SQQQ Omega Ratio Rank: 11
Omega Ratio Rank
SQQQ Calmar Ratio Rank: 11
Calmar Ratio Rank
SQQQ Martin Ratio Rank: 55
Martin Ratio Rank
NOBL
NOBL Risk / Return Rank: 2323
Overall Rank
NOBL Sharpe Ratio Rank: 2323
Sharpe Ratio Rank
NOBL Sortino Ratio Rank: 2323
Sortino Ratio Rank
NOBL Omega Ratio Rank: 2222
Omega Ratio Rank
NOBL Calmar Ratio Rank: 2424
Calmar Ratio Rank
NOBL Martin Ratio Rank: 2525
Martin Ratio Rank
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.

SQQQ vs. NOBL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraPro Short QQQ (SQQQ) 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.

SQQQNOBLDifference

Sharpe ratio

Return per unit of total volatility

-0.84

0.41

-1.24

Sortino ratio

Return per unit of downside risk

-1.14

0.70

-1.83

Omega ratio

Gain probability vs. loss probability

0.84

1.09

-0.24

Calmar ratio

Return relative to maximum drawdown

-0.76

0.54

-1.30

Martin ratio

Return relative to average drawdown

-0.87

1.89

-2.76

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SQQQ vs. NOBL - Sharpe Ratio Comparison

The current SQQQ Sharpe Ratio is -0.84, which is lower than the NOBL Sharpe Ratio of 0.41. The chart below compares the historical Sharpe Ratios of SQQQ and NOBL, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

SQQQNOBLDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

-0.84

0.41

-1.24

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

-0.64

0.44

-1.08

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

-0.80

0.58

-1.38

Sharpe Ratio (All Time)

Calculated using the full available price history

-0.85

0.64

-1.49

Correlation

The correlation between SQQQ and NOBL is -0.60. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

SQQQ vs. NOBL - Dividend Comparison

SQQQ's dividend yield for the trailing twelve months is around 5.99%, more than NOBL's 2.14% yield.

TTM20252024202320222021202020192018201720162015
SQQQ
ProShares UltraPro Short QQQ		5.99%9.36%10.23%8.01%0.28%0.00%2.15%2.92%1.47%0.14%0.00%0.00%
NOBL
ProShares S&P 500 Dividend Aristocrats ETF		2.14%2.14%2.05%2.09%1.94%1.89%2.14%1.89%2.37%1.74%2.13%2.02%

Drawdowns

SQQQ vs. NOBL - Drawdown Comparison

The maximum SQQQ drawdown since its inception was -100.00%, which is greater than NOBL's maximum drawdown of -35.43%. Use the drawdown chart below to compare losses from any high point for SQQQ and NOBL.

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Drawdown Indicators

SQQQNOBLDifference

Max Drawdown

Largest peak-to-trough decline

-100.00%

-35.43%

-64.57%

Max Drawdown (1Y)

Largest decline over 1 year

-75.23%

-11.20%

-64.03%

Max Drawdown (5Y)

Largest decline over 5 years

-95.36%

-17.92%

-77.44%

Max Drawdown (10Y)

Largest decline over 10 years

-99.96%

-35.43%

-64.53%

Current Drawdown

Current decline from peak

-100.00%

-7.07%

-92.93%

Average Drawdown

Average peak-to-trough decline

-92.32%

-3.45%

-88.87%

Ulcer Index

Depth and duration of drawdowns from previous peaks

65.40%

3.18%

+62.22%

Volatility

SQQQ vs. NOBL - Volatility Comparison

ProShares UltraPro Short QQQ (SQQQ) has a higher volatility of 19.98% compared to ProShares S&P 500 Dividend Aristocrats ETF (NOBL) at 3.55%. This indicates that SQQQ'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.

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Volatility by Period

SQQQNOBLDifference

Volatility (1M)

Calculated over the trailing 1-month period

19.98%

3.55%

+16.43%

Volatility (6M)

Calculated over the trailing 6-month period

38.23%

8.06%

+30.17%

Volatility (1Y)

Calculated over the trailing 1-year period

67.38%

15.24%

+52.14%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

66.65%

14.39%

+52.26%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

65.97%

16.59%

+49.38%