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 Dividend fund tracking the S&P 500 Dividend Aristocrats Index. Both are passively managed. Over the past 10 years, YCL returned -13.42%/yr vs 9.86%/yr for NOBL. Their -0.11 correlation means they have often moved in opposite directions in the past. 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 -5.82% return, which is significantly lower than NOBL's 10.84% return. Over the past 10 years, YCL has underperformed NOBL with an annualized return of -13.42%, while NOBL has yielded a comparatively higher 9.86% annualized return.
YCL
- 1D
- 0.22%
- 1M
- 1.24%
- 6M
- -7.85%
- YTD
- -5.82%
- 1Y
- -18.77%
- 3Y*
- -13.30%
- 5Y*
- -19.30%
- 10Y*
- -13.42%
- ALL TIME*
- -9.77%
NOBL
- 1D
- -0.19%
- 1M
- -1.09%
- 6M
- 4.89%
- YTD
- 10.84%
- 1Y
- 15.41%
- 3Y*
- 8.04%
- 5Y*
- 6.49%
- 10Y*
- 9.86%
- ALL TIME*
- 10.70%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $66.40M | $66.46M | $60.79M | |
| $965.32K | $858.06K | $714.31K |
YCL vs. NOBL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
YCL ProShares Ultra Yen | -5.82% | -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 | 10.84% | 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 0.18, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.18 |
Correlation (3Y) Balances recent behavior with more history. | 0.13 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.09 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.05 |
Correlation (All Time) Calculated using the full available price history since Oct 10, 2013 | -0.11 |
The correlation between YCL and NOBL shifts across timeframes, from -0.11 (all time) to 0.18 (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.
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.
| YCL | NOBL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.15 | ||
| Sortino ratioReturn per unit of downside risk | -3.30 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 1.21 | -0.36 |
| Calmar ratioReturn relative to maximum drawdown | -0.65 | 1.62 | -2.27 |
| Martin ratioReturn relative to average drawdown | -1.03 | 4.10 | -5.13 |
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Drawdowns
YCL vs. NOBL - Drawdown Comparison
The maximum YCL drawdown since its inception was -88.74%, 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 | -88.74% | -35.43% | -53.31% |
Max Drawdown (1Y)Largest decline over 1 year | -23.28% | -9.11% | -14.17% |
Max Drawdown (3Y)Largest decline over 3 years | -39.44% | -15.36% | -24.08% |
Max Drawdown (5Y)Largest decline over 5 years | -67.75% | -17.92% | -49.83% |
Max Drawdown (10Y)Largest decline over 10 years | -77.87% | -35.43% | -42.44% |
Current DrawdownCurrent decline from peak | -88.15% | -2.31% | -85.84% |
Average DrawdownAverage peak-to-trough decline | -53.42% | -3.46% | -49.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.60% | 3.59% | +11.01% |
Volatility
YCL vs. NOBL - Volatility Comparison
ProShares Ultra Yen (YCL) has a higher volatility of 5.60% compared to ProShares S&P 500 Dividend Aristocrats ETF (NOBL) at 5.07%. 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 | 5.60% | 5.07% | +0.53% |
Volatility (6M)Calculated over the trailing 6-month period | 11.00% | 9.11% | +1.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.66% | 11.92% | +4.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.60% | 14.48% | +6.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.20% | 16.63% | +1.57% |
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 2.04%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NOBL ProShares S&P 500 Dividend Aristocrats ETF | 2.04% | 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 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
YCL has higher volatility (5.60%) compared to NOBL (5.07%). In terms of maximum drawdown, YCL dropped -88.74% vs NOBL's -35.43%.
On 10-year performance, NOBL leads with 9.86% vs -13.42% for YCL. On fees, NOBL is cheaper at 0.35% per year. On volatility, NOBL has been the lower-risk option at 5.07%. 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 9.86% return vs -13.42%. 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 2.04%, compared with 0.00% for YCL.
YCL is categorized as Leveraged Currency, while NOBL is Dividend. 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 (1.24 vs -0.91), 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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