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Launched · SEC filings

ProShares Ultra Silver

AGQNYSE ArcaProSharesCThis 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.

$45.76+1.99 (+4.55%)

At close: Nov 2, 2026, 4:00 PM ET

C49/ 100

Rank 28 of 99 in Leveraged Long (2x & Other)

C49/100Rank 28 of 99inLeveraged Long (2x & Other)
Intraday session: up, 79 prints from 43.77 to 45.76. Range 45.67 to 46.78. Use the arrow keys to read each point.44.5045.0046.5010 AM12 PM2 PM4 PM
Expense ratio
0.95%
Fund size
$847M
1Y total return
−44.7%
Yield · Last 12 months
No data
Holdings
1
Avg volume · 30D
2.62M sh
52W range
low $42.87high $431.47
Launched
Filings
SEC EDGAR

The ETF.net AGQ Grade

Based on 4 of 6 pillars

C

Score 49 out of 100

Category
Leveraged Long (2x & Other)⁠
Rank
28 of 99
Six-pillar profile for AGQ. Scores out of 100: Cost 51, Risk 26, Mission not scored, Tradability 60, Holdings not scored, Durability 80. Strongest: Durability (80). Weakest: Risk (26). Based on 4 of 6 pillars.

Score 49 of 100 falls in the C 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.
    C51 out of 100
    Rank 32 of 99

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    D26 out of 100
    Rank 81 of 98

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    B60 out of 100
    Rank 35 of 99

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    Not scored

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    A80 out of 100
    Rank 5 of 99

Our read on AGQ

ETF.net Research

In short

CSilver 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.

Stated mandate

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.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

Asset class
Other
Holdings
1
Top-10 weight
100%
Largest holding
Net Other Assets (Liabilities)100.0%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueHeld by ETFs
1No dataNet Other Assets (Liabilities)100.00%894,782,959$895M151

Showing 1–1 of 1 holdings

AGQ Performance

Launched Dec 1, 2008

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

AGQ$5,532
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. AGQ $5,532. SPY $11,199. Use the arrow keys to read each point.$10,000$20,000$40,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 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.

Trailing total return for AGQ. Periods over one year show the average yearly return.
PeriodAGQ
Year to date−71.8%
1 month−34.6%
3 months−31.5%
1 year−44.7%
3 yearsper year+19.2%
5 yearsper year+3.3%
10 yearsper year+0.5%

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for AGQ
YearReturn barAGQ
2026 YTD−71.8%
2025+360.7%
2024+23.9%
2023−15.1%
2022−7.9%
2021−32.3%
2020+62.0%

AGQ in the news

AGQ Dividends

This fund pays no distributions.
No dataLast 12 months
Payout per share
No dataLast 12 months

No distributions in the last 12 months.

AGQ Risk

Risk pillarD26 out of 100Rank 81 of 98 in Leveraged Long (2x & Other)

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.

How much the fund’s monthly returns vary, scaled to a year.
70.3%
Annualised · 36 months to Oct 2026
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.

Return above 3-month US Treasury bills per unit of volatility.
0.54
vs 3-month T-bills · to Oct 2026
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.

The largest fall from a peak to the low that followed.
−89.1%
Trough Oct 2026
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.

How strongly the fund’s returns move with its asset-class index.
0.98
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

AGQ Cost

Compare AGQ and WX

Overpaying vs WX, cheapest in Leveraged Long (2x & Other)

$13,714

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • AGQ 0.95%

    $17,869

  • WX 0.20% Cheapest

    $4,155

$10,000
30 years

Cost over time

  • AGQ 0.95%
  • WX 0.20%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530AGQ $17,869WX $4,155

Year by year

YearAGQWXOverpaying
10$1,678$365$1,313
20$6,322$1,421$4,901
30$17,869$4,155$13,714

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