AGQ vs. TQQQ
AGQ (ProShares Ultra Silver) and TQQQ (ProShares UltraPro QQQ) are both exchange-traded funds - AGQ is a Silver fund tracking the Bloomberg Silver Subindex (200%), while TQQQ is a Leveraged Equities fund tracking the NASDAQ-100 Index (300%). Both are passively managed. Over the past 10 years, AGQ returned 2.74%/yr vs 40.86%/yr for TQQQ. Their 0.18 correlation means their historical movements had little consistent relationship. AGQ charges 0.93%/yr vs 0.95%/yr for TQQQ.
Performance
AGQ vs. TQQQ - Performance Comparison
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Returns By Period
In the year-to-date period, AGQ achieves a -56.47% return, which is significantly lower than TQQQ's 42.48% return. Over the past 10 years, AGQ has underperformed TQQQ with an annualized return of 2.74%, while TQQQ has yielded a comparatively higher 40.86% annualized return.
AGQ
- 1D
- 5.20%
- 1M
- -6.10%
- 6M
- -59.38%
- YTD
- -56.47%
- 1Y
- 34.47%
- 3Y*
- 33.27%
- 5Y*
- 9.81%
- 10Y*
- 2.74%
- ALL TIME*
- 2.22%
TQQQ
- 1D
- 10.09%
- 1M
- 2.00%
- 6M
- 43.02%
- YTD
- 42.48%
- 1Y
- 72.20%
- 3Y*
- 55.55%
- 5Y*
- 17.84%
- 10Y*
- 40.86%
- ALL TIME*
- 43.57%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $130.55M | $131.30M | $272.55M | |
| $4.74B | $4.51B | $5.37B |
AGQ vs. TQQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
AGQ ProShares Ultra Silver | -56.47% | 360.71% | 23.92% | -15.09% | -7.89% | -32.25% | 62.02% | 20.02% | -22.10% | 5.49% |
TQQQ ProShares UltraPro QQQ | 42.48% | 34.35% | 58.27% | 198.04% | -79.09% | 82.98% | 110.05% | 133.84% | -19.79% | 118.06% |
Correlation
The correlation between AGQ and TQQQ is 0.36, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.36 |
Correlation (3Y) Balances recent behavior with more history. | 0.26 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.23 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.20 |
Correlation (All Time) Calculated using the full available price history since Feb 11, 2010 | 0.18 |
The correlation between AGQ and TQQQ shifts across timeframes, from 0.18 (all time) to 0.36 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
AGQ vs. TQQQ — Risk / Return Rank
AGQ
TQQQ
AGQ vs. TQQQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Silver (AGQ) and ProShares UltraPro QQQ (TQQQ). 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 | TQQQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.97 | ||
| Sortino ratioReturn per unit of downside risk | -0.52 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.22 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 0.41 | 1.96 | -1.56 |
| Martin ratioReturn relative to average drawdown | 0.67 | 5.43 | -4.77 |
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Drawdowns
AGQ vs. TQQQ - Drawdown Comparison
The maximum AGQ drawdown since its inception was -98.16%, which is greater than TQQQ's maximum drawdown of -81.66%. Use the drawdown chart below to compare losses from any high point for AGQ and TQQQ.
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Drawdown Indicators
| AGQ | TQQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.16% | -81.66% | -16.50% |
Max Drawdown (1Y)Largest decline over 1 year | -85.13% | -36.97% | -48.16% |
Max Drawdown (3Y)Largest decline over 3 years | -85.13% | -58.04% | -27.09% |
Max Drawdown (5Y)Largest decline over 5 years | -85.13% | -81.66% | -3.47% |
Max Drawdown (10Y)Largest decline over 10 years | -85.13% | -81.66% | -3.47% |
Current DrawdownCurrent decline from peak | -90.76% | -14.02% | -76.74% |
Average DrawdownAverage peak-to-trough decline | -79.94% | -18.49% | -61.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 51.96% | 13.34% | +38.62% |
Volatility
AGQ vs. TQQQ - Volatility Comparison
ProShares Ultra Silver (AGQ) and ProShares UltraPro QQQ (TQQQ) have volatilities of 22.46% and 22.54%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AGQ | TQQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 22.46% | 22.54% | -0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 90.17% | 48.77% | +41.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 125.56% | 58.29% | +67.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 76.32% | 68.25% | +8.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 66.42% | 66.68% | -0.26% |
AGQ vs. TQQQ - Expense Ratio Comparison
AGQ has a 0.93% expense ratio, which is lower than TQQQ's 0.95% expense ratio.
Dividends
AGQ vs. TQQQ - Dividend Comparison
AGQ has not paid dividends to shareholders, while TQQQ's dividend yield for the trailing twelve months is around 0.50%.
| 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% |
TQQQ ProShares UltraPro QQQ | 0.50% | 0.65% | 1.27% | 1.26% | 0.57% | 0.00% | 0.00% | 0.06% | 0.11% | 0.00% | 0.00% | 0.01% |
Frequently Asked Questions
AGQ and TQQQ have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TQQQ has higher volatility (22.54%) compared to AGQ (22.46%). In terms of maximum drawdown, AGQ dropped -98.16% vs TQQQ's -81.66%.
On 10-year performance, TQQQ leads with 40.86% vs 2.74% for AGQ. On fees, AGQ is cheaper at 0.93% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, TQQQ has performed better with a 40.86% return vs 2.74%. 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 TQQQ.
TQQQ has the higher dividend yield at 0.50%, compared with 0.00% for AGQ.
AGQ is categorized as Silver, while TQQQ is Leveraged Equities. AGQ tracks Bloomberg Silver Subindex (200%), while TQQQ tracks NASDAQ-100 Index (300%). Their fees differ too: 0.93% for AGQ and 0.95% for TQQQ.
TQQQ currently has the higher Sharpe Ratio (1.25 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.
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