YCL vs. NOBL
YCL (ProShares Ultra Yen) and NOBL (ProShares S&P 500 Dividend Aristocrats ETF) are both exchange-traded funds - YCL is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%), while NOBL is a S&P 500 fund tracking the S&P 500 Dividend Aristocrats Index. Both are passively managed. Over the past 10 years, YCL returned -12.52%/yr vs 9.51%/yr for NOBL. At a correlation of -0.11, they often move in opposite directions. YCL charges 0.95%/yr vs 0.35%/yr for NOBL.
Performance
YCL vs. NOBL - Performance Comparison
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Returns By Period
In the year-to-date period, YCL achieves a -5.93% return, which is significantly lower than NOBL's 3.51% return. Over the past 10 years, YCL has underperformed NOBL with an annualized return of -12.52%, while NOBL has yielded a comparatively higher 9.51% annualized return.
YCL
- 1D
- -0.11%
- 1M
- -4.01%
- YTD
- -5.93%
- 6M
- -8.29%
- 1Y
- -23.60%
- 3Y*
- -15.11%
- 5Y*
- -19.42%
- 10Y*
- -12.52%
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%
YCL vs. NOBL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
YCL ProShares Ultra Yen | -5.93% | -6.34% | -25.97% | -20.46% | -26.92% | -20.94% | 7.16% | -2.99% | 0.17% | 3.48% |
NOBL ProShares S&P 500 Dividend Aristocrats ETF | 3.51% | 6.84% | 6.72% | 8.09% | -6.52% | 25.46% | 8.35% | 27.39% | -3.26% | 21.02% |
Correlation
The correlation between YCL and NOBL is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.11 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.08 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.06 |
Correlation (All Time) Calculated using the full available price history since Oct 11, 2013 | -0.11 |
The correlation between YCL and NOBL shifts across timeframes, from -0.11 (all time) to 0.22 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
YCL vs. NOBL — Risk / Return Rank
YCL
NOBL
YCL vs. NOBL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Yen (YCL) 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.
| YCL | NOBL | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -1.42 | 0.80 | -2.21 |
Sortino ratioReturn per unit of downside risk | -2.19 | 1.24 | -3.44 |
Omega ratioGain probability vs. loss probability | 0.77 | 1.14 | -0.37 |
Calmar ratioReturn relative to maximum drawdown | -0.96 | 0.99 | -1.95 |
Martin ratioReturn relative to average drawdown | -1.41 | 2.58 | -3.98 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| YCL | NOBL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.42 | 0.80 | -2.21 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.95 | 0.35 | -1.30 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.67 | 0.57 | -1.25 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.50 | 0.64 | -1.15 |
Drawdowns
YCL vs. NOBL - Drawdown Comparison
The maximum YCL drawdown since its inception was -88.16%, which is greater than NOBL's maximum drawdown of -35.43%. Use the drawdown chart below to compare losses from any high point for YCL and NOBL.
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Drawdown Indicators
| YCL | NOBL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -88.16% | -35.43% | -52.73% |
Max Drawdown (1Y)Largest decline over 1 year | -24.63% | -9.11% | -15.52% |
Max Drawdown (3Y)Largest decline over 3 years | -39.97% | -15.36% | -24.61% |
Max Drawdown (5Y)Largest decline over 5 years | -66.22% | -17.92% | -48.30% |
Max Drawdown (10Y)Largest decline over 10 years | -76.74% | -35.43% | -41.31% |
Current DrawdownCurrent decline from peak | -88.16% | -5.99% | -82.17% |
Average DrawdownAverage peak-to-trough decline | -53.11% | -3.48% | -49.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.81% | 3.50% | +13.31% |
Volatility
YCL vs. NOBL - Volatility Comparison
ProShares Ultra Yen (YCL) has a higher volatility of 2.71% compared to ProShares S&P 500 Dividend Aristocrats ETF (NOBL) at 2.36%. This indicates that YCL'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
| YCL | NOBL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.71% | 2.36% | +0.35% |
Volatility (6M)Calculated over the trailing 6-month period | 11.53% | 8.00% | +3.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.80% | 11.33% | +5.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.52% | 14.38% | +6.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.61% | 16.60% | +2.01% |
YCL vs. NOBL - Expense Ratio Comparison
YCL has a 0.95% expense ratio, which is higher than NOBL's 0.35% expense ratio.
Dividends
YCL vs. NOBL - Dividend Comparison
YCL has not paid dividends to shareholders, while NOBL's dividend yield for the trailing twelve months is around 2.12%.
| 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% |
YCL ProShares Ultra Yen | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
YCL and NOBL have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
YCL has higher volatility (2.71%) compared to NOBL (2.36%). In terms of maximum drawdown, YCL dropped -88.16% vs NOBL's -35.43%.
On 10-year performance, NOBL leads with 9.51% vs -12.52% for YCL. 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.
Over the 10-year period, NOBL has performed better with a 9.51% return vs -12.52%. 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 YCL.
NOBL has the higher dividend yield at 2.12%, compared with 0.00% for YCL.
YCL is categorized as Leveraged Currency, while NOBL is S&P 500. YCL tracks USD/JPY Exchange Rate (-200%), while NOBL tracks S&P 500 Dividend Aristocrats Index. Their fees differ too: 0.95% for YCL and 0.35% for NOBL.
NOBL currently has the higher Sharpe Ratio (0.80 vs -1.42), 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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