AGQ vs. GLL
Compare and contrast key facts about ProShares Ultra Silver (AGQ) and ProShares UltraShort Gold (GLL).
AGQ and GLL 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. GLL is a passively managed fund by ProShares that tracks the performance of the Bloomberg Gold (-200%). It was launched on Dec 1, 2008. Both AGQ and GLL 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. GLL - Performance Comparison
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AGQ vs. GLL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
AGQ ProShares Ultra Silver | -22.96% | 360.71% | 23.92% | -15.09% | -7.89% | -32.25% | 62.02% | 20.02% | -22.10% | 5.49% |
GLL ProShares UltraShort Gold | -22.83% | -62.81% | -33.33% | -14.91% | -2.12% | 1.66% | -41.47% | -26.95% | 5.39% | -23.67% |
Returns By Period
The year-to-date returns for both investments are quite close, with AGQ having a -22.96% return and GLL slightly higher at -22.83%. Over the past 10 years, AGQ has outperformed GLL with an annualized return of 14.30%, while GLL has yielded a comparatively lower -24.50% annualized return.
AGQ
- 1D
- 15.10%
- 1M
- -38.20%
- YTD
- -22.96%
- 6M
- 56.75%
- 1Y
- 158.90%
- 3Y*
- 56.41%
- 5Y*
- 22.79%
- 10Y*
- 14.30%
GLL
- 1D
- -7.30%
- 1M
- 22.90%
- YTD
- -22.83%
- 6M
- -39.36%
- 1Y
- -60.18%
- 3Y*
- -42.72%
- 5Y*
- -32.85%
- 10Y*
- -24.50%
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AGQ vs. GLL - Expense Ratio Comparison
AGQ has a 0.93% expense ratio, which is lower than GLL's 0.95% expense ratio.
Return for Risk
AGQ vs. GLL — Risk / Return Rank
AGQ
GLL
AGQ vs. GLL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Silver (AGQ) and ProShares UltraShort Gold (GLL). 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 | GLL | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.36 | -1.10 | +2.46 |
Sortino ratioReturn per unit of downside risk | 1.98 | -2.03 | +4.02 |
Omega ratioGain probability vs. loss probability | 1.35 | 0.78 | +0.57 |
Calmar ratioReturn relative to maximum drawdown | 2.08 | -0.86 | +2.94 |
Martin ratioReturn relative to average drawdown | 5.67 | -1.39 | +7.06 |
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 | GLL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.36 | -1.10 | +2.46 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.31 | -0.93 | +1.25 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.22 | -0.77 | +0.99 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.09 | -0.69 | +0.78 |
Correlation
The correlation between AGQ and GLL is -0.79. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Dividends
AGQ vs. GLL - Dividend Comparison
Neither AGQ nor GLL has paid dividends to shareholders.
Drawdowns
AGQ vs. GLL - Drawdown Comparison
The maximum AGQ drawdown since its inception was -98.16%, roughly equal to the maximum GLL drawdown of -99.24%. Use the drawdown chart below to compare losses from any high point for AGQ and GLL.
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Drawdown Indicators
| AGQ | GLL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.16% | -99.24% | +1.08% |
Max Drawdown (1Y)Largest decline over 1 year | -76.21% | -71.53% | -4.68% |
Max Drawdown (5Y)Largest decline over 5 years | -76.21% | -89.76% | +13.55% |
Max Drawdown (10Y)Largest decline over 10 years | -76.25% | -95.76% | +19.51% |
Current DrawdownCurrent decline from peak | -83.64% | -99.04% | +15.40% |
Average DrawdownAverage peak-to-trough decline | -79.82% | -84.99% | +5.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 27.99% | 44.01% | -16.02% |
Volatility
AGQ vs. GLL - Volatility Comparison
ProShares Ultra Silver (AGQ) has a higher volatility of 38.31% compared to ProShares UltraShort Gold (GLL) at 21.53%. This indicates that AGQ's price experiences larger fluctuations and is considered to be riskier than GLL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AGQ | GLL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 38.31% | 21.53% | +16.78% |
Volatility (6M)Calculated over the trailing 6-month period | 132.42% | 46.40% | +86.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 117.89% | 54.76% | +63.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 73.03% | 35.40% | +37.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 64.68% | 31.98% | +32.70% |