AGQ vs. SOXL
AGQ (ProShares Ultra Silver) and SOXL (Direxion Daily Semiconductor Bull 3X ETF) are both exchange-traded funds - AGQ is a Silver fund tracking the Bloomberg Silver Subindex (200%), while SOXL is a Leveraged Equities fund tracking the ICE Semiconductor Index. Both are passively managed. Over the past 10 years, AGQ returned 1.71%/yr vs 52.03%/yr for SOXL. At a 0.16 correlation, their price movements are largely independent. AGQ charges 0.93%/yr vs 0.75%/yr for SOXL.
Performance
AGQ vs. SOXL - Performance Comparison
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Returns By Period
In the year-to-date period, AGQ achieves a -60.66% return, which is significantly lower than SOXL's 225.51% return. Over the past 10 years, AGQ has underperformed SOXL with an annualized return of 1.71%, while SOXL has yielded a comparatively higher 52.03% annualized return.
AGQ
- 1D
- 0.96%
- 1M
- -28.17%
- 6M
- -74.91%
- YTD
- -60.66%
- 1Y
- 15.33%
- 3Y*
- 24.96%
- 5Y*
- 7.33%
- 10Y*
- 1.71%
- ALL TIME*
- 1.64%
SOXL
- 1D
- 0.99%
- 1M
- -51.02%
- 6M
- 125.20%
- YTD
- 225.51%
- 1Y
- 400.73%
- 3Y*
- 77.51%
- 5Y*
- 27.50%
- 10Y*
- 52.03%
- ALL TIME*
- 39.58%
AGQ vs. SOXL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
AGQ ProShares Ultra Silver | -60.66% | 360.71% | 23.92% | -15.09% | -7.89% | -32.25% | 62.02% | 20.02% | -22.10% | 5.49% |
SOXL Direxion Daily Semiconductor Bull 3X ETF | 225.51% | 54.91% | -12.31% | 226.98% | -85.66% | 118.84% | 70.04% | 231.83% | -39.07% | 141.71% |
Correlation
The correlation between AGQ and SOXL is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.25 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.24 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Mar 11, 2010 | 0.16 |
The correlation between AGQ and SOXL shifts across timeframes, from 0.16 (all time) to 0.32 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
AGQ vs. SOXL — Risk / Return Rank
AGQ
SOXL
AGQ vs. SOXL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Silver (AGQ) and Direxion Daily Semiconductor Bull 3X ETF (SOXL). 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 | SOXL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.11 | ||
| Sortino ratioReturn per unit of downside risk | -1.72 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.39 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | 0.18 | 7.35 | -7.17 |
| Martin ratioReturn relative to average drawdown | 0.31 | 23.74 | -23.43 |
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Drawdowns
AGQ vs. SOXL - Drawdown Comparison
The maximum AGQ drawdown since its inception was -98.16%, which is greater than SOXL's maximum drawdown of -90.46%. Use the drawdown chart below to compare losses from any high point for AGQ and SOXL.
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Drawdown Indicators
| AGQ | SOXL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.16% | -90.46% | -7.70% |
Max Drawdown (1Y)Largest decline over 1 year | -85.13% | -54.96% | -30.17% |
Max Drawdown (3Y)Largest decline over 3 years | -85.13% | -87.88% | +2.75% |
Max Drawdown (5Y)Largest decline over 5 years | -85.13% | -90.46% | +5.33% |
Max Drawdown (10Y)Largest decline over 10 years | -85.13% | -90.46% | +5.33% |
Current DrawdownCurrent decline from peak | -91.65% | -54.51% | -37.14% |
Average DrawdownAverage peak-to-trough decline | -79.91% | -34.96% | -44.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 48.99% | 16.98% | +32.01% |
Volatility
AGQ vs. SOXL - Volatility Comparison
The current volatility for ProShares Ultra Silver (AGQ) is 25.72%, while Direxion Daily Semiconductor Bull 3X ETF (SOXL) has a volatility of 58.35%. This indicates that AGQ experiences smaller price fluctuations and is considered to be less risky than SOXL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AGQ | SOXL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 25.72% | 58.35% | -32.63% |
Volatility (6M)Calculated over the trailing 6-month period | 129.62% | 109.69% | +19.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 125.29% | 125.28% | +0.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 76.07% | 112.02% | -35.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 66.33% | 101.46% | -35.13% |
AGQ vs. SOXL - Expense Ratio Comparison
AGQ has a 0.93% expense ratio, which is higher than SOXL's 0.75% expense ratio.
Dividends
AGQ vs. SOXL - Dividend Comparison
AGQ has not paid dividends to shareholders, while SOXL's dividend yield for the trailing twelve months is around 0.01%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
SOXL Direxion Daily Semiconductor Bull 3X ETF | 0.01% | 0.34% | 1.18% | 0.51% | 1.07% | 0.04% | 0.05% | 0.38% | 1.30% | 0.09% | 4.84% |
Frequently Asked Questions
AGQ and SOXL have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SOXL has higher volatility (58.35%) compared to AGQ (25.72%). In terms of maximum drawdown, AGQ dropped -98.16% vs SOXL's -90.46%.
On 10-year performance, SOXL leads with 52.03% vs 1.71% for AGQ. On fees, SOXL is cheaper at 0.75% per year. On volatility, AGQ has been the lower-risk option at 25.72%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SOXL has performed better with a 52.03% return vs 1.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SOXL is cheaper with a 0.75% expense ratio, compared with 0.93% for AGQ.
SOXL has the higher dividend yield at 0.01%, compared with 0.00% for AGQ.
AGQ is categorized as Silver, while SOXL is Leveraged Equities. AGQ tracks Bloomberg Silver Subindex (200%), while SOXL tracks ICE Semiconductor Index. They also come from different issuers: ProShares and Direxion. Their fees differ too: 0.93% for AGQ and 0.75% for SOXL.
SOXL currently has the higher Sharpe Ratio (3.23 vs 0.12), 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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