AGQ vs. YCS
AGQ (ProShares Ultra Silver) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - AGQ is a Silver fund tracking the Bloomberg Silver Subindex (200%), while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). Both are passively managed. Over the past 10 years, AGQ returned 2.74%/yr vs 13.35%/yr for YCS. Their -0.23 correlation means they have often moved in opposite directions in the past. AGQ charges 0.93%/yr vs 1.00%/yr for YCS.
Performance
AGQ vs. YCS - 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 YCS's 5.42% return. Over the past 10 years, AGQ has underperformed YCS with an annualized return of 2.74%, while YCS has yielded a comparatively higher 13.35% 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%
YCS
- 1D
- 1.26%
- 1M
- -3.97%
- 6M
- 6.17%
- YTD
- 5.42%
- 1Y
- 23.44%
- 3Y*
- 17.45%
- 5Y*
- 23.10%
- 10Y*
- 13.35%
- ALL TIME*
- 6.33%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $130.55M | $131.30M | $272.55M | |
| $2.54M | $2.29M | $1.59M |
AGQ vs. YCS - 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% |
YCS ProShares UltraShort Yen | 5.42% | 9.04% | 35.41% | 28.70% | 29.09% | 22.38% | -11.18% | 3.37% | -1.49% | -6.57% |
Correlation
The correlation between AGQ and YCS is -0.12, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.12 |
Correlation (3Y) Balances recent behavior with more history. | -0.16 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.26 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.29 |
Correlation (All Time) Calculated using the full available price history since Dec 4, 2008 | -0.23 |
The correlation between AGQ and YCS shifts across timeframes, from -0.29 (10 years) to -0.12 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
AGQ vs. YCS — Risk / Return Rank
AGQ
YCS
AGQ vs. YCS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Silver (AGQ) and ProShares UltraShort Yen (YCS). 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 | YCS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.16 | ||
| Sortino ratioReturn per unit of downside risk | -0.58 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.28 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 0.41 | 2.78 | -2.37 |
| Martin ratioReturn relative to average drawdown | 0.67 | 10.25 | -9.59 |
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Drawdowns
AGQ vs. YCS - Drawdown Comparison
The maximum AGQ drawdown since its inception was -98.16%, which is greater than YCS's maximum drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for AGQ and YCS.
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Drawdown Indicators
| AGQ | YCS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.16% | -49.56% | -48.60% |
Max Drawdown (1Y)Largest decline over 1 year | -85.13% | -8.48% | -76.65% |
Max Drawdown (3Y)Largest decline over 3 years | -85.13% | -23.05% | -62.08% |
Max Drawdown (5Y)Largest decline over 5 years | -85.13% | -27.32% | -57.81% |
Max Drawdown (10Y)Largest decline over 10 years | -85.13% | -27.32% | -57.81% |
Current DrawdownCurrent decline from peak | -90.76% | -7.32% | -83.44% |
Average DrawdownAverage peak-to-trough decline | -79.94% | -19.75% | -60.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 51.96% | 2.29% | +49.67% |
Volatility
AGQ vs. YCS - Volatility Comparison
ProShares Ultra Silver (AGQ) has a higher volatility of 22.46% compared to ProShares UltraShort Yen (YCS) at 5.95%. This indicates that AGQ's price experiences larger fluctuations and is considered to be riskier than YCS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AGQ | YCS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 22.46% | 5.95% | +16.51% |
Volatility (6M)Calculated over the trailing 6-month period | 90.17% | 11.87% | +78.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 125.56% | 16.44% | +109.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 76.32% | 21.21% | +55.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 66.42% | 18.61% | +47.81% |
AGQ vs. YCS - Expense Ratio Comparison
AGQ has a 0.93% expense ratio, which is lower than YCS's 1.00% expense ratio.
Dividends
AGQ vs. YCS - Dividend Comparison
Neither AGQ nor YCS has paid dividends to shareholders.
Frequently Asked Questions
AGQ and YCS have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AGQ has higher volatility (22.46%) compared to YCS (5.95%). In terms of maximum drawdown, AGQ dropped -98.16% vs YCS's -49.56%.
On 10-year performance, YCS leads with 13.35% vs 2.74% for AGQ. On fees, AGQ is cheaper at 0.93% per year. On volatility, YCS has been the lower-risk option at 5.95%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, YCS has performed better with a 13.35% 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 1.00% for YCS.
AGQ and YCS have nearly identical dividend yields, around 0.00%.
AGQ is categorized as Silver, while YCS is Leveraged Currency. AGQ tracks Bloomberg Silver Subindex (200%), while YCS tracks USD/JPY Exchange Rate (-200%). Their fees differ too: 0.93% for AGQ and 1.00% for YCS.
YCS currently has the higher Sharpe Ratio (1.43 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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