The world's equal highest-ranked sprinter Chautauqua has been upstaged in his return to racing at Caulfield, finishing third in the Group Two Rubiton Stakes won by the Andrew Noblet-trained Super Cash.

The multiple Group One-winning Chautauqua was beaten in his two spring starts, and again had his colours lowered in his first start of 2017 over 1100m on Saturday.

Co-trainer Wayne Hawks said he thought maybe he was looking for further while veterinarians reported Chautauqua had a slow post-race recovery rate.

Super Cash was one of the outsiders of the seven-horse field at $18 but showed she had returned in great order as she sprinted to victory to earn her chance in next month's Group One Newmarket Handicap.

The win gave Super Cash's jockey Katelyn Mallyon her second-straight Rubiton Stakes after she rode Heatherly a year ago.

Super Cash settled just behind the leader Wild Rain with Chautauqua a few lengths further back coming to the home turn.

The Andrew Noblet-trained mare got to the lead early in the straight and had 1-1/4 lengths to spare on the line over Group One-winning filly I Am A Star, with Chautauqua coming in another three-quarters of a length away third.

"I'm just rapt for this horse," Noblet said.

"She had no luck in the spring and to come back and do that first-up is just fantastic.

"I thought she was a genuine place chance without being overly confident. I was just worried about the depth of this race, obviously with Chautauqua and a couple of others."

Chautuauqua's jockey Dwayne Dunn said everything worked out well for the $2.70 favourite in the run, saying he settled well and came into the home turn well.

"But I just couldn't hit top gear until I really hit the wire," Dunn said.

"He seems to be going more like a 1400 metre-miler at the moment."

Hawkes echoed those thoughts, saying his last 100m was fantastic.

"I'm sorry the people who backed him for the win, but it looks like he wants 1400 metres," Hawkes said.