AGQ vs. FAS
AGQ (ProShares Ultra Silver) and FAS (Direxion Daily Financial Bull 3X Shares) are both exchange-traded funds - AGQ is a Silver fund tracking the Bloomberg Silver Subindex (200%), while FAS is a Leveraged Equities fund tracking the Russell 1000 Financial Services Index (300%). Both are passively managed. Over the past 10 years, AGQ returned 8.24%/yr vs 21.20%/yr for FAS. At a 0.14 correlation, their price movements are largely independent. AGQ charges 0.93%/yr vs 1.00%/yr for FAS.
Performance
AGQ vs. FAS - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, AGQ achieves a -41.54% return, which is significantly lower than FAS's -13.50% return. Over the past 10 years, AGQ has underperformed FAS with an annualized return of 8.24%, while FAS has yielded a comparatively higher 21.20% annualized return.
AGQ
- 1D
- 1.44%
- 1M
- -42.34%
- YTD
- -41.54%
- 6M
- -27.69%
- 1Y
- 86.62%
- 3Y*
- 45.61%
- 5Y*
- 11.26%
- 10Y*
- 8.24%
FAS
- 1D
- 4.15%
- 1M
- 12.77%
- YTD
- -13.50%
- 6M
- -13.89%
- 1Y
- 1.34%
- 3Y*
- 38.21%
- 5Y*
- 7.30%
- 10Y*
- 21.20%
AGQ vs. FAS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
AGQ ProShares Ultra Silver | -41.54% | 360.71% | 23.92% | -15.09% | -7.89% | -32.25% | 62.02% | 20.02% | -22.10% | 5.49% |
FAS Direxion Daily Financial Bull 3X Shares | -13.50% | 21.48% | 84.47% | 14.92% | -43.19% | 116.59% | -34.97% | 113.04% | -33.84% | 67.37% |
Correlation
The correlation between AGQ and FAS is 0.10, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.12 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.15 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.10 |
Correlation (All Time) Calculated using the full available price history since Dec 4, 2008 | 0.14 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
AGQ vs. FAS — Risk / Return Rank
AGQ
FAS
AGQ vs. FAS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Silver (AGQ) and Direxion Daily Financial Bull 3X Shares (FAS). 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 | FAS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.68 | ||
| Sortino ratioReturn per unit of downside risk | +1.28 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.04 | +0.22 |
| Calmar ratioReturn relative to maximum drawdown | 1.09 | 0.03 | +1.06 |
| Martin ratioReturn relative to average drawdown | 2.07 | 0.08 | +2.00 |
Loading charts...
Drawdowns
AGQ vs. FAS - Drawdown Comparison
The maximum AGQ drawdown since its inception was -98.16%, which is greater than FAS's maximum drawdown of -91.61%. Use the drawdown chart below to compare losses from any high point for AGQ and FAS.
Loading charts...
Drawdown Indicators
| AGQ | FAS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.16% | -91.61% | -6.55% |
Max Drawdown (1Y)Largest decline over 1 year | -79.89% | -40.88% | -39.01% |
Max Drawdown (3Y)Largest decline over 3 years | -79.89% | -43.10% | -36.79% |
Max Drawdown (5Y)Largest decline over 5 years | -79.89% | -66.88% | -13.01% |
Max Drawdown (10Y)Largest decline over 10 years | -79.89% | -85.99% | +6.10% |
Current DrawdownCurrent decline from peak | -87.59% | -20.63% | -66.96% |
Average DrawdownAverage peak-to-trough decline | -79.85% | -31.12% | -48.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 41.95% | 17.97% | +23.98% |
Volatility
AGQ vs. FAS - Volatility Comparison
ProShares Ultra Silver (AGQ) has a higher volatility of 33.96% compared to Direxion Daily Financial Bull 3X Shares (FAS) at 12.45%. This indicates that AGQ's price experiences larger fluctuations and is considered to be riskier than FAS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| AGQ | FAS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 33.96% | 12.45% | +21.51% |
Volatility (6M)Calculated over the trailing 6-month period | 135.10% | 33.46% | +101.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 122.60% | 43.61% | +78.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 75.28% | 55.59% | +19.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 65.96% | 61.33% | +4.63% |
AGQ vs. FAS - Expense Ratio Comparison
AGQ has a 0.93% expense ratio, which is lower than FAS's 1.00% expense ratio.
Dividends
AGQ vs. FAS - Dividend Comparison
AGQ has not paid dividends to shareholders, while FAS's dividend yield for the trailing twelve months is around 9.64%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
AGQ ProShares Ultra Silver | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
FAS Direxion Daily Financial Bull 3X Shares | 9.64% | 8.21% | 0.76% | 1.77% | 0.91% | 0.60% | 0.47% | 0.62% | 1.43% | 0.11% |
Frequently Asked Questions
AGQ and FAS have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AGQ has higher volatility (33.96%) compared to FAS (12.45%). In terms of maximum drawdown, AGQ dropped -98.16% vs FAS's -91.61%.
On 10-year performance, FAS leads with 21.20% vs 8.24% for AGQ. On fees, AGQ is cheaper at 0.93% per year. On volatility, FAS has been the lower-risk option at 12.45%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, FAS has performed better with a 21.20% return vs 8.24%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
AGQ is cheaper with a 0.93% expense ratio, compared with 1.00% for FAS.
FAS has the higher dividend yield at 9.64%, compared with 0.00% for AGQ.
AGQ is categorized as Silver, while FAS is Leveraged Equities. AGQ tracks Bloomberg Silver Subindex (200%), while FAS tracks Russell 1000 Financial Services Index (300%). They also come from different issuers: ProShares and Direxion. Their fees differ too: 0.93% for AGQ and 1.00% for FAS.
AGQ currently has the higher Sharpe Ratio (0.71 vs 0.03), 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.
Find the right allocation for AGQ and FAS
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer