AGQ vs. GDXU
Compare and contrast key facts about ProShares Ultra Silver (AGQ) and MicroSectors Gold Miners 3X Leveraged ETN (GDXU).
AGQ and GDXU are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. AGQ is a passively managed fund by ProShares that tracks the performance of the Bloomberg Silver (200%). It was launched on Dec 1, 2008. GDXU is a passively managed fund by BMO that tracks the performance of the S-Network MicroSectors Gold Miners Index. It was launched on Dec 2, 2020. Both AGQ and GDXU are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
AGQ vs. GDXU - Performance Comparison
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AGQ vs. GDXU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
AGQ ProShares Ultra Silver | -23.34% | 360.71% | 23.92% | -15.09% | -7.89% | -32.25% | 18.90% |
GDXU MicroSectors Gold Miners 3X Leveraged ETN | -6.09% | 796.47% | -18.60% | -21.36% | -62.82% | -54.93% | 4.66% |
Returns By Period
In the year-to-date period, AGQ achieves a -23.34% return, which is significantly lower than GDXU's -6.09% return.
AGQ
- 1D
- -0.50%
- 1M
- -32.70%
- YTD
- -23.34%
- 6M
- 51.96%
- 1Y
- 163.54%
- 3Y*
- 56.15%
- 5Y*
- 22.66%
- 10Y*
- 14.25%
GDXU
- 1D
- 13.62%
- 1M
- -51.51%
- YTD
- -6.09%
- 6M
- 8.92%
- 1Y
- 287.76%
- 3Y*
- 63.33%
- 5Y*
- 6.19%
- 10Y*
- —
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AGQ vs. GDXU - Expense Ratio Comparison
AGQ has a 0.93% expense ratio, which is lower than GDXU's 0.95% expense ratio.
Return for Risk
AGQ vs. GDXU — Risk / Return Rank
AGQ
GDXU
AGQ vs. GDXU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Silver (AGQ) and MicroSectors Gold Miners 3X Leveraged ETN (GDXU). 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.
| AGQ | GDXU | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.40 | 2.07 | -0.67 |
Sortino ratioReturn per unit of downside risk | 2.00 | 2.39 | -0.38 |
Omega ratioGain probability vs. loss probability | 1.35 | 1.35 | +0.01 |
Calmar ratioReturn relative to maximum drawdown | 2.07 | 3.87 | -1.80 |
Martin ratioReturn relative to average drawdown | 5.57 | 10.85 | -5.27 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| AGQ | GDXU | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.40 | 2.07 | -0.67 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.31 | 0.06 | +0.25 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.22 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.09 | -0.01 | +0.10 |
Correlation
The correlation between AGQ and GDXU is 0.77, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
AGQ vs. GDXU - Dividend Comparison
Neither AGQ nor GDXU has paid dividends to shareholders.
Drawdowns
AGQ vs. GDXU - Drawdown Comparison
The maximum AGQ drawdown since its inception was -98.16%, roughly equal to the maximum GDXU drawdown of -94.39%. Use the drawdown chart below to compare losses from any high point for AGQ and GDXU.
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Drawdown Indicators
| AGQ | GDXU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.16% | -94.39% | -3.77% |
Max Drawdown (1Y)Largest decline over 1 year | -76.21% | -73.16% | -3.05% |
Max Drawdown (5Y)Largest decline over 5 years | -76.21% | -93.34% | +17.13% |
Max Drawdown (10Y)Largest decline over 10 years | -76.25% | — | — |
Current DrawdownCurrent decline from peak | -83.72% | -56.42% | -27.30% |
Average DrawdownAverage peak-to-trough decline | -79.83% | -69.97% | -9.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 28.27% | 26.08% | +2.19% |
Volatility
AGQ vs. GDXU - Volatility Comparison
The current volatility for ProShares Ultra Silver (AGQ) is 34.37%, while MicroSectors Gold Miners 3X Leveraged ETN (GDXU) has a volatility of 53.09%. This indicates that AGQ experiences smaller price fluctuations and is considered to be less risky than GDXU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AGQ | GDXU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 34.37% | 53.09% | -18.72% |
Volatility (6M)Calculated over the trailing 6-month period | 132.42% | 122.23% | +10.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 117.90% | 140.32% | -22.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 73.01% | 109.02% | -36.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 64.67% | 109.02% | -44.35% |