AGQ vs. GSIB
AGQ (ProShares Ultra Silver) and GSIB (Themes Global Systemically Important Banks ETF) are both exchange-traded funds - AGQ is a Silver fund tracking the Bloomberg Silver Subindex (200%), while GSIB is a Financials Equities fund actively managed by Themes. AGQ is passively managed, while GSIB is actively managed. Over the past year, AGQ returned 31.87% vs 46.76% for GSIB. Their 0.34 correlation means their historical movements had little consistent relationship. AGQ charges 0.93%/yr vs 0.35%/yr for GSIB.
Performance
AGQ vs. GSIB - 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 GSIB's 22.66% 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%
GSIB
- 1D
- -0.11%
- 1M
- 7.17%
- 6M
- 18.14%
- YTD
- 22.66%
- 1Y
- 46.76%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 45.58%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $125.84M | $135.44M | $281.05M | |
| $2.37M | $1.31M | $753.15K |
AGQ vs. GSIB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
AGQ ProShares Ultra Silver | -58.79% | 360.71% | 23.92% | -3.48% |
GSIB Themes Global Systemically Important Banks ETF | 22.66% | 61.67% | 32.86% | 1.75% |
Correlation
The correlation between AGQ and GSIB is 0.41, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.41 |
Correlation (All Time) Calculated using the full available price history since Dec 15, 2023 | 0.34 |
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Return for Risk
AGQ vs. GSIB — Risk / Return Rank
AGQ
GSIB
AGQ vs. GSIB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Silver (AGQ) and Themes Global Systemically Important Banks ETF (GSIB). 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 | GSIB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.37 | ||
| Sortino ratioReturn per unit of downside risk | -2.40 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.43 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | 0.38 | 3.38 | -3.00 |
| Martin ratioReturn relative to average drawdown | 0.62 | 11.87 | -11.25 |
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Drawdowns
AGQ vs. GSIB - Drawdown Comparison
The maximum AGQ drawdown since its inception was -98.16%, which is greater than GSIB's maximum drawdown of -17.71%. Use the drawdown chart below to compare losses from any high point for AGQ and GSIB.
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Drawdown Indicators
| AGQ | GSIB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.16% | -17.71% | -80.45% |
Max Drawdown (1Y)Largest decline over 1 year | -85.13% | -13.90% | -71.23% |
Max Drawdown (3Y)Largest decline over 3 years | -85.13% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -85.13% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -85.13% | — | — |
Current DrawdownCurrent decline from peak | -91.25% | -0.11% | -91.14% |
Average DrawdownAverage peak-to-trough decline | -79.93% | -1.99% | -77.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 51.43% | 3.95% | +47.48% |
Volatility
AGQ vs. GSIB - Volatility Comparison
ProShares Ultra Silver (AGQ) has a higher volatility of 22.86% compared to Themes Global Systemically Important Banks ETF (GSIB) at 5.74%. This indicates that AGQ's price experiences larger fluctuations and is considered to be riskier than GSIB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AGQ | GSIB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 22.86% | 5.74% | +17.12% |
Volatility (6M)Calculated over the trailing 6-month period | 127.92% | 14.93% | +112.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 125.49% | 17.90% | +107.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 76.26% | 18.46% | +57.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 66.42% | 18.46% | +47.96% |
AGQ vs. GSIB - Expense Ratio Comparison
AGQ has a 0.93% expense ratio, which is higher than GSIB's 0.35% expense ratio.
Dividends
AGQ vs. GSIB - Dividend Comparison
AGQ has not paid dividends to shareholders, while GSIB's dividend yield for the trailing twelve months is around 1.55%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
AGQ ProShares Ultra Silver | 0.00% | 0.00% | 0.00% |
GSIB Themes Global Systemically Important Banks ETF | 1.55% | 1.91% | 1.67% |
Frequently Asked Questions
AGQ and GSIB have a correlation of 0.41, 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 GSIB (5.74%). In terms of maximum drawdown, AGQ dropped -98.16% vs GSIB's -17.71%.
On 1-year performance, GSIB leads with 46.76% vs 31.87% for AGQ. On fees, GSIB is cheaper at 0.35% per year. On volatility, GSIB has been the lower-risk option at 5.74%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, GSIB has performed better with a 46.76% return vs 31.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GSIB is cheaper with a 0.35% expense ratio, compared with 0.93% for AGQ.
GSIB has the higher dividend yield at 1.55%, compared with 0.00% for AGQ.
AGQ is categorized as Silver, while GSIB is Financials Equities. They also come from different issuers: ProShares and Themes. Their fees differ too: 0.93% for AGQ and 0.35% for GSIB.
GSIB currently has the higher Sharpe Ratio (2.63 vs 0.26), 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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