AGQ vs. SQQQ
AGQ (ProShares Ultra Silver) and SQQQ (ProShares UltraPro Short QQQ) are both exchange-traded funds - AGQ is a Silver fund tracking the Bloomberg Silver Subindex (200%), while SQQQ is a Leveraged Equities fund tracking the NASDAQ-100 Index (-300%). Both are passively managed. Over the past 10 years, AGQ returned 5.67%/yr vs -56.24%/yr for SQQQ. At a correlation of -0.17, they often move in opposite directions. AGQ charges 0.93%/yr vs 0.95%/yr for SQQQ.
Performance
AGQ vs. SQQQ - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, AGQ achieves a -52.18% return, which is significantly lower than SQQQ's -40.31% return. Over the past 10 years, AGQ has outperformed SQQQ with an annualized return of 5.67%, while SQQQ has yielded a comparatively lower -56.24% annualized return.
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%
SQQQ
- 1D
- 9.83%
- 1M
- -2.27%
- YTD
- -40.31%
- 6M
- -37.80%
- 1Y
- -61.11%
- 3Y*
- -53.86%
- 5Y*
- -46.89%
- 10Y*
- -56.24%
AGQ vs. SQQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
AGQ ProShares Ultra Silver | -52.18% | 360.71% | 23.92% | -15.09% | -7.89% | -32.25% | 62.02% | 20.02% | -22.10% | 5.49% |
SQQQ ProShares UltraPro Short QQQ | -40.31% | -53.05% | -49.79% | -73.61% | 82.40% | -60.87% | -86.40% | -65.92% | -20.83% | -58.67% |
Correlation
The correlation between AGQ and SQQQ is -0.33, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.33 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.25 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.22 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.19 |
Correlation (All Time) Calculated using the full available price history since Feb 11, 2010 | -0.17 |
The correlation between AGQ and SQQQ shifts across timeframes, from -0.33 (1 year) to -0.17 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
AGQ vs. SQQQ — Risk / Return Rank
AGQ
SQQQ
AGQ vs. SQQQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Silver (AGQ) and ProShares UltraPro Short QQQ (SQQQ). 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 | SQQQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.59 | ||
| Sortino ratioReturn per unit of downside risk | +3.49 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 0.78 | +0.45 |
| Calmar ratioReturn relative to maximum drawdown | 0.67 | -0.96 | +1.63 |
| Martin ratioReturn relative to average drawdown | 1.25 | -1.81 | +3.06 |
Loading charts...
Drawdowns
AGQ vs. SQQQ - Drawdown Comparison
The maximum AGQ drawdown since its inception was -98.16%, roughly equal to the maximum SQQQ drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for AGQ and SQQQ.
Loading charts...
Drawdown Indicators
| AGQ | SQQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.16% | -100.00% | +1.84% |
Max Drawdown (1Y)Largest decline over 1 year | -81.48% | -63.52% | -17.96% |
Max Drawdown (3Y)Largest decline over 3 years | -81.48% | -92.51% | +11.03% |
Max Drawdown (5Y)Largest decline over 5 years | -81.48% | -97.27% | +15.79% |
Max Drawdown (10Y)Largest decline over 10 years | -81.48% | -99.98% | +18.50% |
Current DrawdownCurrent decline from peak | -89.85% | -100.00% | +10.15% |
Average DrawdownAverage peak-to-trough decline | -79.87% | -92.73% | +12.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 43.63% | 36.37% | +7.26% |
Volatility
AGQ vs. SQQQ - Volatility Comparison
ProShares Ultra Silver (AGQ) has a higher volatility of 29.28% compared to ProShares UltraPro Short QQQ (SQQQ) at 26.69%. This indicates that AGQ's price experiences larger fluctuations and is considered to be riskier than SQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| AGQ | SQQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 29.28% | 26.69% | +2.59% |
Volatility (6M)Calculated over the trailing 6-month period | 135.34% | 43.33% | +92.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 123.59% | 53.65% | +69.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 75.53% | 67.53% | +8.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 66.15% | 66.47% | -0.32% |
AGQ vs. SQQQ - Expense Ratio Comparison
AGQ has a 0.93% expense ratio, which is lower than SQQQ's 0.95% expense ratio.
Dividends
AGQ vs. SQQQ - Dividend Comparison
AGQ has not paid dividends to shareholders, while SQQQ's dividend yield for the trailing twelve months is around 11.44%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
AGQ ProShares Ultra Silver | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SQQQ ProShares UltraPro Short QQQ | 11.44% | 9.36% | 10.23% | 8.01% | 0.28% | 0.00% | 2.15% | 2.92% | 1.47% | 0.14% |
Frequently Asked Questions
AGQ and SQQQ 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.
AGQ has higher volatility (29.28%) compared to SQQQ (26.69%). In terms of maximum drawdown, AGQ dropped -98.16% vs SQQQ's -100.00%.
On 10-year performance, AGQ leads with 5.67% vs -56.24% for SQQQ. On fees, AGQ is cheaper at 0.93% per year. On volatility, SQQQ has been the lower-risk option at 26.69%. 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 5.67% return vs -56.24%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
AGQ is cheaper with a 0.93% expense ratio, compared with 0.95% for SQQQ.
SQQQ has the higher dividend yield at 11.44%, compared with 0.00% for AGQ.
AGQ is categorized as Silver, while SQQQ is Leveraged Equities. AGQ tracks Bloomberg Silver Subindex (200%), while SQQQ tracks NASDAQ-100 Index (-300%). Their fees differ too: 0.93% for AGQ and 0.95% for SQQQ.
AGQ currently has the higher Sharpe Ratio (0.44 vs -1.14), 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.
Find the right allocation for AGQ and SQQQ
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer