URE vs. NOBL
URE (ProShares Ultra Real Estate) and NOBL (ProShares S&P 500 Dividend Aristocrats ETF) are both exchange-traded funds - URE 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, URE returned 2.23%/yr vs 9.85%/yr for NOBL. Their 0.68 correlation means they have sometimes moved together and sometimes differently. URE charges 0.95%/yr vs 0.35%/yr for NOBL.
Performance
URE vs. NOBL - Performance Comparison
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Returns By Period
In the year-to-date period, URE achieves a 23.35% return, which is significantly higher than NOBL's 11.50% return. Over the past 10 years, URE has underperformed NOBL with an annualized return of 2.23%, while NOBL has yielded a comparatively higher 9.85% annualized return.
URE
- 1D
- 0.70%
- 1M
- 1.91%
- 6M
- 20.58%
- YTD
- 23.35%
- 1Y
- 18.25%
- 3Y*
- 11.31%
- 5Y*
- -3.92%
- 10Y*
- 2.23%
- ALL TIME*
- -3.04%
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 | |
| $611.02K | $406.79K | $255.52K |
URE vs. NOBL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
URE ProShares Ultra Real Estate | 23.35% | -3.65% | 0.35% | 11.58% | -49.64% | 88.24% | -28.06% | 57.86% | -13.80% | 16.56% |
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 URE and NOBL is 0.69, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.69 |
Correlation (3Y) Balances recent behavior with more history. | 0.72 |
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 URE and NOBL has been stable across timeframes, ranging from 0.68 to 0.75 - a consistent structural relationship.
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Return for Risk
URE vs. NOBL — Risk / Return Rank
URE
NOBL
URE vs. NOBL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Real Estate (URE) 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.
| URE | NOBL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.70 | ||
| Sortino ratioReturn per unit of downside risk | -1.02 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.23 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 1.11 | 1.77 | -0.66 |
| Martin ratioReturn relative to average drawdown | 3.05 | 4.49 | -1.45 |
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Drawdowns
URE vs. NOBL - Drawdown Comparison
The maximum URE drawdown since its inception was -97.16%, which is greater than NOBL's maximum drawdown of -35.43%. Use the drawdown chart below to compare losses from any high point for URE and NOBL.
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Drawdown Indicators
| URE | NOBL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -97.16% | -35.43% | -61.73% |
Max Drawdown (1Y)Largest decline over 1 year | -16.50% | -9.11% | -7.39% |
Max Drawdown (3Y)Largest decline over 3 years | -33.77% | -15.36% | -18.41% |
Max Drawdown (5Y)Largest decline over 5 years | -63.66% | -17.92% | -45.74% |
Max Drawdown (10Y)Largest decline over 10 years | -70.49% | -35.43% | -35.06% |
Current DrawdownCurrent decline from peak | -48.78% | -1.73% | -47.05% |
Average DrawdownAverage peak-to-trough decline | -64.38% | -3.46% | -60.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.01% | 3.59% | +2.42% |
Volatility
URE vs. NOBL - Volatility Comparison
ProShares Ultra Real Estate (URE) has a higher volatility of 8.67% compared to ProShares S&P 500 Dividend Aristocrats ETF (NOBL) at 4.72%. This indicates that URE'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
| URE | NOBL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.67% | 4.72% | +3.95% |
Volatility (6M)Calculated over the trailing 6-month period | 22.10% | 9.11% | +12.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.02% | 11.92% | +16.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 37.52% | 14.48% | +23.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.68% | 16.64% | +24.04% |
URE vs. NOBL - Expense Ratio Comparison
URE has a 0.95% expense ratio, which is higher than NOBL's 0.35% expense ratio.
Dividends
URE vs. NOBL - Dividend Comparison
URE's dividend yield for the trailing twelve months is around 1.98%, less 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% |
URE ProShares Ultra Real Estate | 1.98% | 2.42% | 2.09% | 1.32% | 1.26% | 0.58% | 0.94% | 1.10% | 1.53% | 0.93% | 0.96% | 0.81% |
Frequently Asked Questions
URE and NOBL have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
URE has higher volatility (8.67%) compared to NOBL (4.72%). In terms of maximum drawdown, URE dropped -97.16% vs NOBL's -35.43%.
On 10-year performance, NOBL leads with 9.85% vs 2.23% for URE. 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 2.23%. 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 URE.
NOBL has the higher dividend yield at 2.03%, compared with 1.98% for URE.
URE is categorized as REIT, while NOBL is Dividend. URE 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 URE and 0.35% for NOBL.
NOBL currently has the higher Sharpe Ratio (1.36 vs 0.66), 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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