URSP vs. NOBL

Last updated Apr 1, 2026

Compare and contrast key facts about ProShares Ultra S&P 500 Equal Weight ETF (URSP) and ProShares S&P 500 Dividend Aristocrats ETF (NOBL).

URSP and NOBL are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. URSP is a passively managed fund by ProShares that tracks the performance of the S&P 500 Equal Weight Index. It was launched on Aug 25, 2025. 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 URSP 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

URSP vs. NOBL - Performance Comparison

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

URSP vs. NOBL - Yearly Performance Comparison

	2026 (YTD)	2025
URSP ProShares Ultra S&P 500 Equal Weight ETF	-0.70%	1.57%
NOBL ProShares S&P 500 Dividend Aristocrats ETF	2.36%	-0.03%

Returns By Period

In the year-to-date period, URSP achieves a -0.70% return, which is significantly lower than NOBL's 2.36% return.

URSP

• 1D: 3.91%
• 1M: -12.42%
• YTD: -0.70%
• 6M: -0.13%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

NOBL

• 1D: 1.28%
• 1M: -7.04%
• YTD: 2.36%
• 6M: 4.01%
• 1Y: 6.06%
• 3Y*: 7.41%
• 5Y*: 6.31%
• 10Y*: 9.54%

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

URSP vs. NOBL - Expense Ratio Comparison

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

URSP

ProShares Ultra S&P 500 Equal Weight ETF

NOBL

ProShares S&P 500 Dividend Aristocrats ETF

Return for Risk

URSP vs. NOBL — Risk / Return Rank

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

NOBL

NOBL Risk / Return Rank: 27
NOBL Sharpe Ratio Rank: 26
NOBL Sortino Ratio Rank: 26
NOBL Omega Ratio Rank: 24
NOBL Calmar Ratio Rank: 30
NOBL Martin Ratio Rank: 30

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.

URSP vs. NOBL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra S&P 500 Equal Weight ETF (URSP) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	URSP	NOBL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.40	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.44	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.58	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.06	0.64	-0.58

Correlation

The correlation between URSP and NOBL is 0.80, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

URSP vs. NOBL - Dividend Comparison

URSP's dividend yield for the trailing twelve months is around 0.69%, less than NOBL's 2.14% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
URSP ProShares Ultra S&P 500 Equal Weight ETF	0.69%	0.38%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	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

URSP vs. NOBL - Drawdown Comparison

The maximum URSP drawdown since its inception was -15.72%, smaller than the maximum NOBL drawdown of -35.43%. Use the drawdown chart below to compare losses from any high point for URSP and NOBL.

Drawdown Indicators

	URSP	NOBL	Difference
Max Drawdown Largest peak-to-trough decline	-15.72%	-35.43%	+19.71%
Max Drawdown (1Y) Largest decline over 1 year	—	-11.20%	—
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	-12.42%	-7.04%	-5.38%
Average Drawdown Average peak-to-trough decline	-3.06%	-3.45%	+0.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.15%	—

Volatility

Volatility by Period

	URSP	NOBL	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.61%	—
Volatility (6M) Calculated over the trailing 6-month period	—	8.07%	—
Volatility (1Y) Calculated over the trailing 1-year period	24.11%	15.29%	+8.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.11%	14.40%	+9.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.11%	16.60%	+7.51%