ASMG vs. AGQ

Last updated Jul 14, 2026

ASMG (Leverage Shares 2X Long ASML Daily ETF) and AGQ (ProShares Ultra Silver) are both exchange-traded funds - ASMG is a Leveraged Equities fund actively managed by Leverage Shares, while AGQ is a Silver fund tracking the Bloomberg Silver Subindex (200%). ASMG is actively managed, while AGQ is passively managed. Over the past year, ASMG returned 238.25% vs 16.09% for AGQ. At a 0.28 correlation, their price movements are largely independent. ASMG charges 0.75%/yr vs 0.93%/yr for AGQ.

Performance

ASMG vs. AGQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Leverage Shares 2X Long ASML Daily ETF (ASMG) and ProShares Ultra Silver (AGQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ASMG achieves a 113.58% return, which is significantly higher than AGQ's -58.74% return.

ASMG

• 1D: -7.80%
• 1M: -17.41%
• 6M: 52.01%
• YTD: 113.58%
• 1Y: 238.25%
• 3Y*: —
• 5Y*: —
• 10Y*: —

AGQ

• 1D: -6.98%
• 1M: -29.42%
• 6M: -71.23%
• YTD: -58.74%
• 1Y: 16.09%
• 3Y*: 25.85%
• 5Y*: 6.64%
• 10Y*: 1.70%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ASMG vs. AGQ - Yearly Performance Comparison

	2026 (YTD)	2025
ASMG Leverage Shares 2X Long ASML Daily ETF	113.58%	62.68%
AGQ ProShares Ultra Silver	-58.74%	331.97%

Correlation

The correlation between ASMG and AGQ is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.31
Correlation (All Time) Calculated using the full available price history since Jan 14, 2025	0.28

Return for Risk

ASMG vs. AGQ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ASMG

ASMG Risk / Return Rank: 86
ASMG Sharpe Ratio Rank: 93
ASMG Sortino Ratio Rank: 79
ASMG Omega Ratio Rank: 73
ASMG Calmar Ratio Rank: 96
ASMG Martin Ratio Rank: 91

AGQ

AGQ Risk / Return Rank: 18
AGQ Sharpe Ratio Rank: 11
AGQ Sortino Ratio Rank: 24
AGQ Omega Ratio Rank: 31
AGQ Calmar Ratio Rank: 12
AGQ Martin Ratio Rank: 11

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ASMG vs. AGQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2X Long ASML Daily ETF (ASMG) and ProShares Ultra Silver (AGQ). 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.

	ASMG	AGQ	Difference
Sharpe ratio: Return per unit of total volatility	2.63	0.13	+2.50
Sortino ratio: Return per unit of downside risk	2.79	1.11	+1.68
Omega ratio: Gain probability vs. loss probability	1.34	1.17	+0.16
Calmar ratio: Return relative to maximum drawdown	6.94	0.19	+6.75
Martin ratio: Return relative to average drawdown	16.58	0.34	+16.24

ASMG vs. AGQ - Sharpe Ratio Comparison

The current ASMG Sharpe Ratio is 2.63, which is higher than the AGQ Sharpe Ratio of 0.13. The chart below compares the historical Sharpe Ratios of ASMG and AGQ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ASMG vs. AGQ - Drawdown Comparison

The maximum ASMG drawdown since its inception was -43.95%, smaller than the maximum AGQ drawdown of -98.16%. Use the drawdown chart below to compare losses from any high point for ASMG and AGQ.

Drawdown Indicators

	ASMG	AGQ	Difference
Max Drawdown Largest peak-to-trough decline	-43.95%	-98.16%	+54.21%
Max Drawdown (1Y) Largest decline over 1 year	-34.56%	-84.08%	+49.52%
Max Drawdown (3Y) Largest decline over 3 years	—	-84.08%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-84.08%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-84.08%	—
Current Drawdown Current decline from peak	-26.01%	-91.24%	+65.23%
Average Drawdown Average peak-to-trough decline	-13.04%	-79.90%	+66.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.44%	47.53%	-33.09%

Volatility

ASMG vs. AGQ - Volatility Comparison

Leverage Shares 2X Long ASML Daily ETF (ASMG) has a higher volatility of 41.12% compared to ProShares Ultra Silver (AGQ) at 29.47%. This indicates that ASMG's price experiences larger fluctuations and is considered to be riskier than AGQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ASMG	AGQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	41.12%	29.47%	+11.65%
Volatility (6M) Calculated over the trailing 6-month period	73.62%	131.35%	-57.73%
Volatility (1Y) Calculated over the trailing 1-year period	91.55%	125.04%	-33.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	89.30%	76.03%	+13.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	89.30%	66.30%	+23.00%

ASMG vs. AGQ - Expense Ratio Comparison

ASMG has a 0.75% expense ratio, which is lower than AGQ's 0.93% expense ratio.

Dividends

ASMG vs. AGQ - Dividend Comparison

ASMG's dividend yield for the trailing twelve months is around 5.25%, while AGQ has not paid dividends to shareholders.

Position	TTM	2025
AGQ ProShares Ultra Silver	0.00%	0.00%
ASMG Leverage Shares 2X Long ASML Daily ETF	5.25%	11.20%

Frequently Asked Questions

Can I hold both ASMG and AGQ in my portfolio?

ASMG and AGQ have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ASMG or AGQ?

ASMG has higher volatility (41.12%) compared to AGQ (29.47%). In terms of maximum drawdown, ASMG dropped -43.95% vs AGQ's -98.16%.

Which ETF is better, ASMG or AGQ?

On 1-year performance, ASMG leads with 238.25% vs 16.09% for AGQ. On fees, ASMG is cheaper at 0.75% per year. On volatility, AGQ has been the lower-risk option at 29.47%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ASMG or AGQ?

Over the 1-year period, ASMG has performed better with a 238.25% return vs 16.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ASMG or AGQ?

ASMG is cheaper with a 0.75% expense ratio, compared with 0.93% for AGQ.

Which ETF pays a higher dividend yield, ASMG or AGQ?

ASMG has the higher dividend yield at 5.25%, compared with 0.00% for AGQ.

What is the main difference between ASMG and AGQ?

ASMG is categorized as Leveraged Equities, while AGQ is Silver. They also come from different issuers: Leverage Shares and ProShares. Their fees differ too: 0.75% for ASMG and 0.93% for AGQ.

Which has better risk-adjusted returns?

ASMG currently has the higher Sharpe Ratio (2.63 vs 0.13), 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.