AGQ vs. MUU

Last updated Jun 24, 2026

AGQ (ProShares Ultra Silver) and MUU (Direxion Daily MU Bull 2X Shares) are both exchange-traded funds - AGQ is a Silver fund tracking the Bloomberg Silver Subindex (200%), while MUU is a Leveraged Equities fund tracking the Micron Technology, Inc. (200% Daily). Both are passively managed. At a 0.30 correlation, their price movements are largely independent. AGQ charges 0.93%/yr vs 1.01%/yr for MUU.

Performance

AGQ vs. MUU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra Silver (AGQ) and Direxion Daily MU Bull 2X Shares (MUU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

AGQ

• 1D: -10.97%
• 1M: -35.39%
• YTD: -52.18%
• 6M: -55.31%
• 1Y: 54.32%
• 3Y*: 41.58%
• 5Y*: 10.28%
• 10Y*: 5.67%

MUU

• 1D: -26.28%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

AGQ vs. MUU - Yearly Performance Comparison

	2026 (YTD)
AGQ ProShares Ultra Silver	-23.54%
MUU Direxion Daily MU Bull 2X Shares	-12.11%

Correlation

The correlation between AGQ and MUU is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 16, 2026	0.30

Return for Risk

AGQ vs. MUU — Risk / Return Rank

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

AGQ

AGQ Risk / Return Rank: 22
AGQ Sharpe Ratio Rank: 15
AGQ Sortino Ratio Rank: 27
AGQ Omega Ratio Rank: 35
AGQ Calmar Ratio Rank: 17
AGQ Martin Ratio Rank: 14

MUU

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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. MUU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Silver (AGQ) and Direxion Daily MU Bull 2X Shares (MUU). 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	MUU	Difference
Sharpe ratio: Return per unit of total volatility	0.44	—	—
Sortino ratio: Return per unit of downside risk	1.41	—	—
Omega ratio: Gain probability vs. loss probability	1.23	—	—
Calmar ratio: Return relative to maximum drawdown	0.67	—	—
Martin ratio: Return relative to average drawdown	1.25	—	—

Drawdowns

AGQ vs. MUU - Drawdown Comparison

The maximum AGQ drawdown since its inception was -98.16%, which is greater than MUU's maximum drawdown of -26.28%. Use the drawdown chart below to compare losses from any high point for AGQ and MUU.

Drawdown Indicators

	AGQ	MUU	Difference
Max Drawdown Largest peak-to-trough decline	-98.16%	-26.28%	-71.88%
Max Drawdown (1Y) Largest decline over 1 year	-81.48%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-81.48%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-81.48%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-81.48%	—	—
Current Drawdown Current decline from peak	-89.85%	-26.28%	-63.57%
Average Drawdown Average peak-to-trough decline	-79.87%	-10.19%	-69.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	43.63%	—	—

Volatility

Volatility by Period

	AGQ	MUU	Difference
Volatility (1M) Calculated over the trailing 1-month period	29.28%	—	—
Volatility (6M) Calculated over the trailing 6-month period	135.34%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	123.59%	295.32%	-171.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	75.53%	295.32%	-219.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	66.15%	295.32%	-229.17%

AGQ vs. MUU - Expense Ratio Comparison

AGQ has a 0.93% expense ratio, which is lower than MUU's 1.01% expense ratio.

Dividends

AGQ vs. MUU - Dividend Comparison

Neither AGQ nor MUU has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both AGQ and MUU in my portfolio?

AGQ and MUU have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, AGQ or MUU?

On fees, AGQ is cheaper at 0.93% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, AGQ or MUU?

AGQ is cheaper with a 0.93% expense ratio, compared with 1.01% for MUU.

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

AGQ and MUU have nearly identical dividend yields, around 0.00%.

What is the main difference between AGQ and MUU?

AGQ is categorized as Silver, while MUU is Leveraged Equities. AGQ tracks Bloomberg Silver Subindex (200%), while MUU tracks Micron Technology, Inc. (200% Daily). They also come from different issuers: ProShares and Direxion. Their fees differ too: 0.93% for AGQ and 1.01% for MUU.