AGQ vs. YCL
AGQ (ProShares Ultra Silver) and YCL (ProShares Ultra Yen) are both exchange-traded funds - AGQ is a Silver fund tracking the Bloomberg Silver Subindex (200%), while YCL is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). Both are passively managed. Over the past 10 years, AGQ returned 8.24%/yr vs -12.66%/yr for YCL. At a 0.22 correlation, their price movements are largely independent. AGQ charges 0.93%/yr vs 0.95%/yr for YCL.
Performance
AGQ vs. YCL - Performance Comparison
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Returns By Period
In the year-to-date period, AGQ achieves a -41.54% return, which is significantly lower than YCL's -6.35% return. Over the past 10 years, AGQ has outperformed YCL with an annualized return of 8.24%, while YCL has yielded a comparatively lower -12.66% annualized return.
AGQ
- 1D
- 1.44%
- 1M
- -36.21%
- YTD
- -41.54%
- 6M
- -27.69%
- 1Y
- 87.63%
- 3Y*
- 45.61%
- 5Y*
- 11.26%
- 10Y*
- 8.24%
YCL
- 1D
- -0.45%
- 1M
- -2.78%
- YTD
- -6.35%
- 6M
- -7.70%
- 1Y
- -23.69%
- 3Y*
- -15.07%
- 5Y*
- -19.44%
- 10Y*
- -12.66%
AGQ vs. YCL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
AGQ ProShares Ultra Silver | -41.54% | 360.71% | 23.92% | -15.09% | -7.89% | -32.25% | 62.02% | 20.02% | -22.10% | 5.49% |
YCL ProShares Ultra Yen | -6.35% | -6.34% | -25.97% | -20.46% | -26.92% | -20.94% | 7.16% | -2.99% | 0.17% | 3.48% |
Correlation
The correlation between AGQ and YCL is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.17 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.26 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.28 |
Correlation (All Time) Calculated using the full available price history since Dec 9, 2008 | 0.22 |
The correlation between AGQ and YCL shifts across timeframes, from 0.17 (3 years) to 0.28 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
AGQ vs. YCL — Risk / Return Rank
AGQ
YCL
AGQ vs. YCL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Silver (AGQ) and ProShares Ultra Yen (YCL). 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 | YCL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.17 | ||
| Sortino ratioReturn per unit of downside risk | +3.90 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 0.76 | +0.51 |
| Calmar ratioReturn relative to maximum drawdown | 1.09 | -1.01 | +2.10 |
| Martin ratioReturn relative to average drawdown | 2.07 | -1.50 | +3.57 |
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Drawdowns
AGQ vs. YCL - Drawdown Comparison
The maximum AGQ drawdown since its inception was -98.16%, which is greater than YCL's maximum drawdown of -88.26%. Use the drawdown chart below to compare losses from any high point for AGQ and YCL.
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Drawdown Indicators
| AGQ | YCL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.16% | -88.26% | -9.90% |
Max Drawdown (1Y)Largest decline over 1 year | -79.89% | -23.97% | -55.92% |
Max Drawdown (3Y)Largest decline over 3 years | -79.89% | -40.47% | -39.42% |
Max Drawdown (5Y)Largest decline over 5 years | -79.89% | -66.50% | -13.39% |
Max Drawdown (10Y)Largest decline over 10 years | -79.89% | -76.93% | -2.96% |
Current DrawdownCurrent decline from peak | -87.59% | -88.21% | +0.62% |
Average DrawdownAverage peak-to-trough decline | -79.85% | -53.16% | -26.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 41.95% | 16.43% | +25.52% |
Volatility
AGQ vs. YCL - Volatility Comparison
ProShares Ultra Silver (AGQ) has a higher volatility of 33.96% compared to ProShares Ultra Yen (YCL) at 1.47%. This indicates that AGQ's price experiences larger fluctuations and is considered to be riskier than YCL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AGQ | YCL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 33.96% | 1.47% | +32.49% |
Volatility (6M)Calculated over the trailing 6-month period | 135.10% | 11.40% | +123.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 122.60% | 16.59% | +106.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 75.28% | 20.50% | +54.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 65.96% | 18.60% | +47.36% |
AGQ vs. YCL - Expense Ratio Comparison
AGQ has a 0.93% expense ratio, which is lower than YCL's 0.95% expense ratio.
Dividends
AGQ vs. YCL - Dividend Comparison
Neither AGQ nor YCL has paid dividends to shareholders.
Frequently Asked Questions
AGQ and YCL have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AGQ has higher volatility (33.96%) compared to YCL (1.47%). In terms of maximum drawdown, AGQ dropped -98.16% vs YCL's -88.26%.
On 10-year performance, AGQ leads with 8.24% vs -12.66% for YCL. On fees, AGQ is cheaper at 0.93% per year. On volatility, YCL has been the lower-risk option at 1.47%. 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 8.24% return vs -12.66%. 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 YCL.
AGQ and YCL have nearly identical dividend yields, around 0.00%.
AGQ is categorized as Silver, while YCL is Leveraged Currency. AGQ tracks Bloomberg Silver Subindex (200%), while YCL tracks USD/JPY Exchange Rate (-200%). Their fees differ too: 0.93% for AGQ and 0.95% for YCL.
AGQ currently has the higher Sharpe Ratio (0.71 vs -1.46), 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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