AGQ vs. SIL
AGQ (ProShares Ultra Silver) and SIL (Global X Silver Miners ETF) are both Silver funds - AGQ tracks the Bloomberg Silver Subindex (200%) while SIL tracks the Solactive Global Silver Miners Total Return Index. Both are passively managed. Over the past 10 years, AGQ returned 11.35%/yr vs 10.69%/yr for SIL. A 0.76 correlation means they provide meaningful diversification when combined. AGQ charges 0.93%/yr vs 0.65%/yr for SIL.
Performance
AGQ vs. SIL - Performance Comparison
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Returns By Period
In the year-to-date period, AGQ achieves a -30.83% return, which is significantly lower than SIL's 4.75% return. Over the past 10 years, AGQ has outperformed SIL with an annualized return of 11.35%, while SIL has yielded a comparatively lower 10.69% annualized return.
AGQ
- 1D
- -5.25%
- 1M
- -1.76%
- YTD
- -30.83%
- 6M
- -5.75%
- 1Y
- 142.76%
- 3Y*
- 54.17%
- 5Y*
- 15.27%
- 10Y*
- 11.35%
SIL
- 1D
- -4.96%
- 1M
- 0.68%
- YTD
- 4.75%
- 6M
- 15.66%
- 1Y
- 91.23%
- 3Y*
- 49.15%
- 5Y*
- 13.96%
- 10Y*
- 10.69%
AGQ vs. SIL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
AGQ ProShares Ultra Silver | -30.83% | 360.71% | 23.92% | -15.09% | -7.89% | -32.25% | 62.02% | 20.02% | -22.10% | 5.49% |
SIL Global X Silver Miners ETF | 4.75% | 166.16% | 14.62% | 1.31% | -22.83% | -18.35% | 40.30% | 34.78% | -22.42% | 1.67% |
Correlation
The correlation between AGQ and SIL is 0.80, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.80 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.79 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.79 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.78 |
Correlation (All Time) Calculated using the full available price history since Apr 21, 2010 | 0.76 |
The correlation between AGQ and SIL has been stable across timeframes, ranging from 0.76 to 0.80 - a consistent structural relationship.
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Return for Risk
AGQ vs. SIL — Risk / Return Rank
AGQ
SIL
AGQ vs. SIL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Silver (AGQ) and Global X Silver Miners ETF (SIL). 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 | SIL | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.19 | 1.83 | -0.65 |
Sortino ratioReturn per unit of downside risk | 1.91 | 2.17 | -0.26 |
Omega ratioGain probability vs. loss probability | 1.32 | 1.30 | +0.02 |
Calmar ratioReturn relative to maximum drawdown | 1.88 | 2.79 | -0.90 |
Martin ratioReturn relative to average drawdown | 3.59 | 7.14 | -3.55 |
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 | SIL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.19 | 1.83 | -0.65 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.21 | 0.36 | -0.15 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.17 | 0.27 | -0.10 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.08 | 0.14 | -0.06 |
Drawdowns
AGQ vs. SIL - Drawdown Comparison
The maximum AGQ drawdown since its inception was -98.16%, which is greater than SIL's maximum drawdown of -82.99%. Use the drawdown chart below to compare losses from any high point for AGQ and SIL.
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Drawdown Indicators
| AGQ | SIL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.16% | -82.99% | -15.17% |
Max Drawdown (1Y)Largest decline over 1 year | -76.21% | -32.91% | -43.30% |
Max Drawdown (3Y)Largest decline over 3 years | -76.21% | -32.91% | -43.30% |
Max Drawdown (5Y)Largest decline over 5 years | -76.21% | -55.08% | -21.13% |
Max Drawdown (10Y)Largest decline over 10 years | -76.25% | -63.04% | -13.21% |
Current DrawdownCurrent decline from peak | -85.31% | -25.87% | -59.44% |
Average DrawdownAverage peak-to-trough decline | -79.86% | -51.45% | -28.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 39.92% | 12.82% | +27.10% |
Volatility
AGQ vs. SIL - Volatility Comparison
ProShares Ultra Silver (AGQ) has a higher volatility of 33.51% compared to Global X Silver Miners ETF (SIL) at 17.66%. This indicates that AGQ's price experiences larger fluctuations and is considered to be riskier than SIL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AGQ | SIL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 33.51% | 17.66% | +15.85% |
Volatility (6M)Calculated over the trailing 6-month period | 133.70% | 41.57% | +92.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 120.79% | 50.01% | +70.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 74.68% | 39.21% | +35.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 65.66% | 39.60% | +26.06% |
AGQ vs. SIL - Expense Ratio Comparison
AGQ has a 0.93% expense ratio, which is higher than SIL's 0.65% expense ratio.
Dividends
AGQ vs. SIL - Dividend Comparison
AGQ has not paid dividends to shareholders, while SIL's dividend yield for the trailing twelve months is around 1.13%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AGQ ProShares Ultra Silver | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SIL Global X Silver Miners ETF | 1.13% | 1.18% | 2.40% | 0.59% | 0.48% | 1.59% | 1.92% | 1.53% | 1.21% | 0.02% | 3.34% | 0.38% |
Frequently Asked Questions
AGQ and SIL have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AGQ has higher volatility (33.51%) compared to SIL (17.66%). In terms of maximum drawdown, AGQ dropped -98.16% vs SIL's -82.99%.
On 10-year performance, AGQ leads with 11.35% vs 10.69% for SIL. On fees, SIL is cheaper at 0.65% per year. On volatility, SIL has been the lower-risk option at 17.66%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, AGQ has performed better with a 11.35% return vs 10.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SIL is cheaper with a 0.65% expense ratio, compared with 0.93% for AGQ.
SIL has the higher dividend yield at 1.13%, compared with 0.00% for AGQ.
AGQ tracks Bloomberg Silver Subindex (200%), while SIL tracks Solactive Global Silver Miners Total Return Index. They also come from different issuers: ProShares and Global X. Their fees differ too: 0.93% for AGQ and 0.65% for SIL.
SIL currently has the higher Sharpe Ratio (1.83 vs 1.19), 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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