AGQ vs. IQQQ

Last updated Jun 26, 2026

AGQ (ProShares Ultra Silver) and IQQQ (ProShares Nasdaq-100 High Income ETF) are both exchange-traded funds - AGQ is a Silver fund tracking the Bloomberg Silver Subindex (200%), while IQQQ is a Nasdaq-100 fund tracking the Nasdaq-100 Daily Covered Call Index. Both are passively managed. Over the past year, AGQ returned 35.08% vs 29.47% for IQQQ. At a 0.27 correlation, their price movements are largely independent. AGQ charges 0.93%/yr vs 0.55%/yr for IQQQ.

Performance

AGQ vs. IQQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra Silver (AGQ) and ProShares Nasdaq-100 High Income ETF (IQQQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AGQ achieves a -58.02% return, which is significantly lower than IQQQ's 13.95% return.

AGQ

• 1D: 2.17%
• 1M: -45.30%
• YTD: -58.02%
• 6M: -61.16%
• 1Y: 35.08%
• 3Y*: 34.09%
• 5Y*: 7.22%
• 10Y*: 4.34%

IQQQ

• 1D: 0.87%
• 1M: -2.10%
• YTD: 13.95%
• 6M: 12.28%
• 1Y: 29.47%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

AGQ vs. IQQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
AGQ ProShares Ultra Silver	-58.02%	360.71%	16.26%
IQQQ ProShares Nasdaq-100 High Income ETF	13.95%	17.11%	14.82%

Correlation

The correlation between AGQ and IQQQ is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.33
Correlation (All Time) Calculated using the full available price history since Mar 20, 2024	0.27

Return for Risk

AGQ vs. IQQQ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AGQ

AGQ Risk / Return Rank: 19
AGQ Sharpe Ratio Rank: 13
AGQ Sortino Ratio Rank: 25
AGQ Omega Ratio Rank: 33
AGQ Calmar Ratio Rank: 14
AGQ Martin Ratio Rank: 13

IQQQ

IQQQ Risk / Return Rank: 58
IQQQ Sharpe Ratio Rank: 61
IQQQ Sortino Ratio Rank: 54
IQQQ Omega Ratio Rank: 56
IQQQ Calmar Ratio Rank: 62
IQQQ Martin Ratio Rank: 59

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AGQ vs. IQQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Silver (AGQ) and ProShares Nasdaq-100 High Income ETF (IQQQ). 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	IQQQ	Difference
Sharpe ratio: Return per unit of total volatility	0.28	1.74	-1.46
Sortino ratio: Return per unit of downside risk	1.27	2.28	-1.01
Omega ratio: Gain probability vs. loss probability	1.20	1.30	-0.10
Calmar ratio: Return relative to maximum drawdown	0.42	2.66	-2.24
Martin ratio: Return relative to average drawdown	0.79	9.05	-8.25

AGQ vs. IQQQ - Sharpe Ratio Comparison

The current AGQ Sharpe Ratio is 0.28, which is lower than the IQQQ Sharpe Ratio of 1.74. The chart below compares the historical Sharpe Ratios of AGQ and IQQQ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AGQ vs. IQQQ - Drawdown Comparison

The maximum AGQ drawdown since its inception was -98.16%, which is greater than IQQQ's maximum drawdown of -20.41%. Use the drawdown chart below to compare losses from any high point for AGQ and IQQQ.

Drawdown Indicators

	AGQ	IQQQ	Difference
Max Drawdown Largest peak-to-trough decline	-98.16%	-20.41%	-77.75%
Max Drawdown (1Y) Largest decline over 1 year	-84.08%	-11.13%	-72.95%
Max Drawdown (3Y) Largest decline over 3 years	-84.08%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-84.08%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-84.08%	—	—
Current Drawdown Current decline from peak	-91.09%	-4.31%	-86.78%
Average Drawdown Average peak-to-trough decline	-79.87%	-3.63%	-76.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	44.27%	3.27%	+41.00%

Volatility

AGQ vs. IQQQ - Volatility Comparison

ProShares Ultra Silver (AGQ) has a higher volatility of 31.74% compared to ProShares Nasdaq-100 High Income ETF (IQQQ) at 8.20%. This indicates that AGQ's price experiences larger fluctuations and is considered to be riskier than IQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AGQ	IQQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	31.74%	8.20%	+23.54%
Volatility (6M) Calculated over the trailing 6-month period	135.91%	13.57%	+122.34%
Volatility (1Y) Calculated over the trailing 1-year period	124.44%	17.00%	+107.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	75.81%	19.06%	+56.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	66.28%	19.06%	+47.22%

AGQ vs. IQQQ - Expense Ratio Comparison

AGQ has a 0.93% expense ratio, which is higher than IQQQ's 0.55% expense ratio.

Dividends

AGQ vs. IQQQ - Dividend Comparison

AGQ has not paid dividends to shareholders, while IQQQ's dividend yield for the trailing twelve months is around 4.61%.

Position	TTM	2025	2024
AGQ ProShares Ultra Silver	0.00%	0.00%	0.00%
IQQQ ProShares Nasdaq-100 High Income ETF	4.61%	10.34%	7.27%

Frequently Asked Questions

Can I hold both AGQ and IQQQ in my portfolio?

AGQ and IQQQ have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AGQ or IQQQ?

AGQ has higher volatility (31.74%) compared to IQQQ (8.20%). In terms of maximum drawdown, AGQ dropped -98.16% vs IQQQ's -20.41%.

Which ETF is better, AGQ or IQQQ?

On 1-year performance, AGQ leads with 35.08% vs 29.47% for IQQQ. On fees, IQQQ is cheaper at 0.55% per year. On volatility, IQQQ has been the lower-risk option at 8.20%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AGQ or IQQQ?

Over the 1-year period, AGQ has performed better with a 35.08% return vs 29.47%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AGQ or IQQQ?

IQQQ is cheaper with a 0.55% expense ratio, compared with 0.93% for AGQ.

Which ETF pays a higher dividend yield, AGQ or IQQQ?

IQQQ has the higher dividend yield at 4.61%, compared with 0.00% for AGQ.

What is the main difference between AGQ and IQQQ?

AGQ is categorized as Silver, while IQQQ is Nasdaq-100. AGQ tracks Bloomberg Silver Subindex (200%), while IQQQ tracks Nasdaq-100 Daily Covered Call Index. Their fees differ too: 0.93% for AGQ and 0.55% for IQQQ.

Which has better risk-adjusted returns?

IQQQ currently has the higher Sharpe Ratio (1.74 vs 0.28), 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.