AGQ vs. UGL
Compare and contrast key facts about ProShares Ultra Silver (AGQ) and ProShares Ultra Gold (UGL).
AGQ and UGL are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. AGQ is a passively managed fund by ProShares that tracks the performance of the Bloomberg Silver (200%). It was launched on Dec 1, 2008. UGL is a passively managed fund by ProShares that tracks the performance of the Bloomberg Gold Subindex (200%). It was launched on Dec 1, 2008. Both AGQ and UGL are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
AGQ vs. UGL - Performance Comparison
Loading graphics...
AGQ vs. UGL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
AGQ ProShares Ultra Silver | -23.34% | 360.71% | 23.92% | -15.09% | -7.89% | -32.25% | 62.02% | 20.02% | -22.10% | 5.49% |
UGL ProShares Ultra Gold | 14.36% | 137.57% | 46.36% | 15.56% | -7.59% | -12.30% | 39.04% | 31.11% | -8.02% | 22.50% |
Returns By Period
In the year-to-date period, AGQ achieves a -23.34% return, which is significantly lower than UGL's 14.36% return. Over the past 10 years, AGQ has underperformed UGL with an annualized return of 14.25%, while UGL has yielded a comparatively higher 20.61% annualized return.
AGQ
- 1D
- -0.50%
- 1M
- -32.70%
- YTD
- -23.34%
- 6M
- 51.96%
- 1Y
- 163.54%
- 3Y*
- 56.15%
- 5Y*
- 22.66%
- 10Y*
- 14.25%
UGL
- 1D
- 3.30%
- 1M
- -21.80%
- YTD
- 14.36%
- 6M
- 37.39%
- 1Y
- 98.00%
- 3Y*
- 59.13%
- 5Y*
- 35.67%
- 10Y*
- 20.61%
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
AGQ vs. UGL - Expense Ratio Comparison
AGQ has a 0.93% expense ratio, which is lower than UGL's 0.95% expense ratio.
Return for Risk
AGQ vs. UGL — Risk / Return Rank
AGQ
UGL
AGQ vs. UGL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Silver (AGQ) and ProShares Ultra Gold (UGL). 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 | UGL | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.40 | 1.78 | -0.38 |
Sortino ratioReturn per unit of downside risk | 2.00 | 2.11 | -0.11 |
Omega ratioGain probability vs. loss probability | 1.35 | 1.31 | +0.04 |
Calmar ratioReturn relative to maximum drawdown | 2.07 | 2.59 | -0.52 |
Martin ratioReturn relative to average drawdown | 5.57 | 8.76 | -3.18 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading graphics...
Sharpe Ratios by Period
| AGQ | UGL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.40 | 1.78 | -0.38 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.31 | 1.00 | -0.69 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.22 | 0.64 | -0.42 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.09 | 0.42 | -0.34 |
Correlation
The correlation between AGQ and UGL is 0.78, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
AGQ vs. UGL - Dividend Comparison
Neither AGQ nor UGL has paid dividends to shareholders.
Drawdowns
AGQ vs. UGL - Drawdown Comparison
The maximum AGQ drawdown since its inception was -98.16%, which is greater than UGL's maximum drawdown of -75.93%. Use the drawdown chart below to compare losses from any high point for AGQ and UGL.
Loading graphics...
Drawdown Indicators
| AGQ | UGL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.16% | -75.93% | -22.23% |
Max Drawdown (1Y)Largest decline over 1 year | -76.21% | -37.56% | -38.65% |
Max Drawdown (5Y)Largest decline over 5 years | -76.21% | -40.23% | -35.98% |
Max Drawdown (10Y)Largest decline over 10 years | -76.25% | -46.23% | -30.02% |
Current DrawdownCurrent decline from peak | -83.72% | -25.85% | -57.87% |
Average DrawdownAverage peak-to-trough decline | -79.83% | -43.76% | -36.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 28.27% | 11.11% | +17.16% |
Volatility
AGQ vs. UGL - Volatility Comparison
ProShares Ultra Silver (AGQ) has a higher volatility of 34.37% compared to ProShares Ultra Gold (UGL) at 20.81%. This indicates that AGQ's price experiences larger fluctuations and is considered to be riskier than UGL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading graphics...
Volatility by Period
| AGQ | UGL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 34.37% | 20.81% | +13.56% |
Volatility (6M)Calculated over the trailing 6-month period | 132.42% | 49.09% | +83.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 117.90% | 55.46% | +62.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 73.01% | 35.70% | +37.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 64.67% | 32.19% | +32.48% |