ProShares - Ultra Silver
BThis fund multiplies its index's move each day and resets that multiple daily. Because daily returns compound, its long-run return can differ from the headline multiple.
$64.12−2.20 (−3.32%)
- 0.95%
- $1.3B
- −15.7%
- 2.7M sh
- $66.44
- low $57.65high $431.47
The ETF.net AGQ Grade
B
Score 55 out of 100
- 18 of 99
Score 55 of 100 falls in the B band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.B65 out of 100Rank 30 of 99Mission
Whether the fund did what it promised, tested against its stated mandate.Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.D25 out of 100Rank 82 of 96Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.B60 out of 100Rank 35 of 99Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.A80 out of 100Rank 4 of 99
Our read on AGQ
BSilver with the volume turned up. Since 2008, AGQ has aimed to double silver's daily move using futures and swaps instead of bullion, and ProShares bills it as the only ETF built on 2x the Bloomberg Silver Subindex.
The fund seeks daily investment results, before fees and expenses, corresponding to twice the daily performance of the Bloomberg Silver Subindex. It obtains this exposure through futures and swaps rather than directly holding silver.
Why people hold it
- ProShares bills it as the only ETF targeting 2x the daily move of the Bloomberg Silver Subindex, a mandate it has run since December 2008.proshares.com
- Fees run 0.95% a year, below the median for leveraged funds, which is notable for a strategy built on futures and swaps.
- Actively traded, which matters for a tool designed to be used day by day rather than parked.
- Sits among the stronger implementations in a crowded leveraged-bull field.
Worth knowing
- The 2x target resets each day, so multi-day results can drift well away from twice silver's move, and choppy stretches chew value even if silver ends flat.prospectus.proshares.com
- It is a commodity pool, not a 1940 Act fund, so shareholders get a Schedule K-1 at tax time instead of a 1099.proshares.com
- Exposure comes from silver futures and swaps, not metal in a vault, and the fund is not built to pay income.
AGQ Holdings
- Other
- 1
- 100%
- Net Other Assets (Liabilities)
AGQ Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
AGQ$8,430
Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | AGQ |
|---|---|
| Year to date | −57.2% |
| 1 month | −13.6% |
| 3 months | −3.6% |
| 1 year | −15.7% |
| 3 years | +41.2% |
| 5 years | +14.8% |
| 10 years | +5.2% |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | AGQ |
|---|---|---|
| 2026 YTD | −57.2% | |
| 2025 | +360.7% | |
| 2024 | +23.9% | |
| 2023 | −15.1% | |
| 2022 | −7.9% | |
| 2021 | −32.3% | |
| 2020 | +62.0% |
AGQ in the news
AGQ Dividends
No distributions in the last 12 months.
AGQ Risk
This fund targets a multiple of the daily move of its index and resets daily. Hold it longer than one reset and compounding makes the return diverge from that target. In choppy markets it can lose value even when the index ends flat.
- 66.6%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- 0.77
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −85.1%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 0.77
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
AGQ Cost
0.95%
AGQ0.95%
- The middle half of Leveraged Long (2x & Other) funds
- Median 1.00%
29 of the 95 Leveraged Long (2x & Other) funds charge less.
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