AGQ vs. ESPO
AGQ (ProShares Ultra Silver) and ESPO (VanEck Video Gaming and eSports ETF) are both exchange-traded funds - AGQ is a Silver fund tracking the Bloomberg Silver Subindex (200%), while ESPO is a Gaming fund tracking the MVIS Global Video Gaming and eSports Index. Both are passively managed. Over the past 5 years, AGQ returned 8.02%/yr vs 8.32%/yr for ESPO. Their 0.24 correlation means their historical movements had little consistent relationship. AGQ charges 0.93%/yr vs 0.55%/yr for ESPO.
Performance
AGQ vs. ESPO - Performance Comparison
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Returns By Period
In the year-to-date period, AGQ achieves a -58.79% return, which is significantly lower than ESPO's -9.09% return.
AGQ
- 1D
- -4.43%
- 1M
- -6.44%
- 6M
- -60.08%
- YTD
- -58.79%
- 1Y
- 31.87%
- 3Y*
- 28.23%
- 5Y*
- 8.02%
- 10Y*
- 1.23%
- ALL TIME*
- 1.91%
ESPO
- 1D
- -3.16%
- 1M
- 3.18%
- 6M
- -5.98%
- YTD
- -9.09%
- 1Y
- -11.33%
- 3Y*
- 18.46%
- 5Y*
- 8.32%
- 10Y*
- —
- ALL TIME*
- 16.59%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $125.84M | $135.44M | $281.05M | |
| $1.98M | $1.50M | $1.55M |
AGQ vs. ESPO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
AGQ ProShares Ultra Silver | -58.79% | 360.71% | 23.92% | -15.09% | -7.89% | -32.25% | 62.02% | 20.02% | 9.60% |
ESPO VanEck Video Gaming and eSports ETF | -9.09% | 25.79% | 47.61% | 33.64% | -34.71% | -2.13% | 83.93% | 42.36% | -12.49% |
Correlation
The correlation between AGQ and ESPO is 0.34, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.34 |
Correlation (3Y) Balances recent behavior with more history. | 0.29 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.25 |
Correlation (All Time) Calculated using the full available price history since Oct 17, 2018 | 0.24 |
The correlation between AGQ and ESPO shifts across timeframes, from 0.24 (all time) to 0.34 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
AGQ vs. ESPO — Risk / Return Rank
AGQ
ESPO
AGQ vs. ESPO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Silver (AGQ) and VanEck Video Gaming and eSports ETF (ESPO). 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.
| AGQ | ESPO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.83 | ||
| Sortino ratioReturn per unit of downside risk | +1.95 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 0.92 | +0.28 |
| Calmar ratioReturn relative to maximum drawdown | 0.38 | -0.39 | +0.76 |
| Martin ratioReturn relative to average drawdown | 0.62 | -0.62 | +1.24 |
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Drawdowns
AGQ vs. ESPO - Drawdown Comparison
The maximum AGQ drawdown since its inception was -98.16%, which is greater than ESPO's maximum drawdown of -50.99%. Use the drawdown chart below to compare losses from any high point for AGQ and ESPO.
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Drawdown Indicators
| AGQ | ESPO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.16% | -50.99% | -47.17% |
Max Drawdown (1Y)Largest decline over 1 year | -85.13% | -29.43% | -55.70% |
Max Drawdown (3Y)Largest decline over 3 years | -85.13% | -29.43% | -55.70% |
Max Drawdown (5Y)Largest decline over 5 years | -85.13% | -48.33% | -36.80% |
Max Drawdown (10Y)Largest decline over 10 years | -85.13% | — | — |
Current DrawdownCurrent decline from peak | -91.25% | -22.03% | -69.22% |
Average DrawdownAverage peak-to-trough decline | -79.93% | -15.23% | -64.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 51.43% | 18.32% | +33.11% |
Volatility
AGQ vs. ESPO - Volatility Comparison
ProShares Ultra Silver (AGQ) has a higher volatility of 22.86% compared to VanEck Video Gaming and eSports ETF (ESPO) at 6.66%. This indicates that AGQ's price experiences larger fluctuations and is considered to be riskier than ESPO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AGQ | ESPO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 22.86% | 6.66% | +16.20% |
Volatility (6M)Calculated over the trailing 6-month period | 127.92% | 16.07% | +111.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 125.49% | 19.65% | +105.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 76.26% | 25.12% | +51.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 66.42% | 25.65% | +40.77% |
AGQ vs. ESPO - Expense Ratio Comparison
AGQ has a 0.93% expense ratio, which is higher than ESPO's 0.55% expense ratio.
Dividends
AGQ vs. ESPO - Dividend Comparison
AGQ has not paid dividends to shareholders, while ESPO's dividend yield for the trailing twelve months is around 1.37%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
AGQ ProShares Ultra Silver | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ESPO VanEck Video Gaming and eSports ETF | 1.37% | 1.24% | 0.44% | 0.96% | 0.91% | 3.36% | 0.12% | 0.22% | 0.04% |
Frequently Asked Questions
AGQ and ESPO have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AGQ has higher volatility (22.86%) compared to ESPO (6.66%). In terms of maximum drawdown, AGQ dropped -98.16% vs ESPO's -50.99%.
On 5-year performance, ESPO leads with 8.32% vs 8.02% for AGQ. On fees, ESPO is cheaper at 0.55% per year. On volatility, ESPO has been the lower-risk option at 6.66%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, ESPO has performed better with a 8.32% return vs 8.02%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ESPO is cheaper with a 0.55% expense ratio, compared with 0.93% for AGQ.
ESPO has the higher dividend yield at 1.37%, compared with 0.00% for AGQ.
AGQ is categorized as Silver, while ESPO is Gaming. AGQ tracks Bloomberg Silver Subindex (200%), while ESPO tracks MVIS Global Video Gaming and eSports Index. They also come from different issuers: ProShares and VanEck. Their fees differ too: 0.93% for AGQ and 0.55% for ESPO.
AGQ currently has the higher Sharpe Ratio (0.26 vs -0.58), 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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