SRS vs. NOBL
SRS (ProShares UltraShort Real Estate) and NOBL (ProShares S&P 500 Dividend Aristocrats ETF) are both exchange-traded funds - SRS is a REIT fund tracking the Dow Jones U.S. Real Estate Index (-200%), while NOBL is a Dividend fund tracking the S&P 500 Dividend Aristocrats Index. Both are passively managed. Over the past 10 years, SRS returned -16.03%/yr vs 9.85%/yr for NOBL. Their -0.68 correlation means they have often moved in opposite directions in the past. SRS charges 0.95%/yr vs 0.35%/yr for NOBL.
Performance
SRS vs. NOBL - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, SRS achieves a -21.34% return, which is significantly lower than NOBL's 11.50% return. Over the past 10 years, SRS has underperformed NOBL with an annualized return of -16.03%, while NOBL has yielded a comparatively higher 9.85% annualized return.
SRS
- 1D
- -0.52%
- 1M
- -2.10%
- 6M
- -19.18%
- YTD
- -21.34%
- 1Y
- -18.17%
- 3Y*
- -14.70%
- 5Y*
- -5.85%
- 10Y*
- -16.03%
- ALL TIME*
- -28.33%
NOBL
- 1D
- 0.60%
- 1M
- -0.50%
- 6M
- 4.99%
- YTD
- 11.50%
- 1Y
- 16.10%
- 3Y*
- 8.76%
- 5Y*
- 6.69%
- 10Y*
- 9.85%
- ALL TIME*
- 10.74%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $70.34M | $67.56M | $62.19M | |
| $366.45K | $363.36K | $364.08K |
SRS vs. NOBL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SRS ProShares UltraShort Real Estate | -21.34% | -1.45% | -3.55% | -18.78% | 54.68% | -52.22% | -33.05% | -38.97% | 6.01% | -18.03% |
NOBL ProShares S&P 500 Dividend Aristocrats ETF | 11.50% | 6.84% | 6.72% | 8.09% | -6.52% | 25.46% | 8.35% | 27.39% | -3.26% | 21.02% |
Correlation
The correlation between SRS and NOBL is -0.70, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.70 |
Correlation (3Y) Balances recent behavior with more history. | -0.73 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.75 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.68 |
Correlation (All Time) Calculated using the full available price history since Oct 10, 2013 | -0.68 |
The correlation between SRS and NOBL has been stable across timeframes, ranging from -0.75 to -0.68 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
SRS vs. NOBL — Risk / Return Rank
SRS
NOBL
SRS vs. NOBL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Real Estate (SRS) 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.
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.
| SRS | NOBL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.00 | ||
| Sortino ratioReturn per unit of downside risk | -2.88 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 1.23 | -0.32 |
| Calmar ratioReturn relative to maximum drawdown | -0.71 | 1.77 | -2.48 |
| Martin ratioReturn relative to average drawdown | -1.46 | 4.49 | -5.95 |
Loading charts...
Drawdowns
SRS vs. NOBL - Drawdown Comparison
The maximum SRS drawdown since its inception was -99.96%, which is greater than NOBL's maximum drawdown of -35.43%. Use the drawdown chart below to compare losses from any high point for SRS and NOBL.
Loading charts...
Drawdown Indicators
| SRS | NOBL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.96% | -35.43% | -64.53% |
Max Drawdown (1Y)Largest decline over 1 year | -25.73% | -9.11% | -16.62% |
Max Drawdown (3Y)Largest decline over 3 years | -54.73% | -15.36% | -39.37% |
Max Drawdown (5Y)Largest decline over 5 years | -54.73% | -17.92% | -36.81% |
Max Drawdown (10Y)Largest decline over 10 years | -86.75% | -35.43% | -51.32% |
Current DrawdownCurrent decline from peak | -99.96% | -1.73% | -98.23% |
Average DrawdownAverage peak-to-trough decline | -91.28% | -3.46% | -87.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.47% | 3.59% | +8.88% |
Volatility
SRS vs. NOBL - Volatility Comparison
ProShares UltraShort Real Estate (SRS) has a higher volatility of 8.59% compared to ProShares S&P 500 Dividend Aristocrats ETF (NOBL) at 4.72%. This indicates that SRS'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.
Loading charts...
Volatility by Period
| SRS | NOBL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.59% | 4.72% | +3.87% |
Volatility (6M)Calculated over the trailing 6-month period | 22.18% | 9.11% | +13.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.32% | 11.92% | +16.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 37.81% | 14.48% | +23.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.81% | 16.64% | +24.17% |
SRS vs. NOBL - Expense Ratio Comparison
SRS has a 0.95% expense ratio, which is higher than NOBL's 0.35% expense ratio.
Dividends
SRS vs. NOBL - Dividend Comparison
SRS's dividend yield for the trailing twelve months is around 3.67%, more than NOBL's 2.03% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NOBL ProShares S&P 500 Dividend Aristocrats ETF | 2.03% | 2.14% | 2.05% | 2.09% | 1.94% | 1.89% | 2.14% | 1.89% | 2.37% | 1.74% | 2.13% | 2.02% |
SRS ProShares UltraShort Real Estate | 3.67% | 3.61% | 6.06% | 4.49% | 0.30% | 0.00% | 0.19% | 1.80% | 0.47% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SRS and NOBL have a correlation of -0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SRS has higher volatility (8.59%) compared to NOBL (4.72%). In terms of maximum drawdown, SRS dropped -99.96% vs NOBL's -35.43%.
On 10-year performance, NOBL leads with 9.85% vs -16.03% for SRS. On fees, NOBL is cheaper at 0.35% per year. On volatility, NOBL has been the lower-risk option at 4.72%. 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 9.85% return vs -16.03%. 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 SRS.
SRS has the higher dividend yield at 3.67%, compared with 2.03% for NOBL.
SRS is categorized as REIT, while NOBL is Dividend. SRS tracks Dow Jones U.S. Real Estate Index (-200%), while NOBL tracks S&P 500 Dividend Aristocrats Index. Their fees differ too: 0.95% for SRS and 0.35% for NOBL.
NOBL currently has the higher Sharpe Ratio (1.36 vs -0.65), 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.
Find the right allocation for SRS and NOBL
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer