DIG vs. AGQ
DIG (ProShares Ultra Oil & Gas) and AGQ (ProShares Ultra Silver) are both exchange-traded funds - DIG is a Leveraged Equities fund tracking the Dow Jones U.S. Oil & Gas Index (200%), while AGQ is a Silver fund tracking the Bloomberg Silver Subindex (200%). Both are passively managed. Over the past 10 years, DIG returned 4.46%/yr vs 1.71%/yr for AGQ. At a 0.22 correlation, their price movements are largely independent. DIG charges 0.95%/yr vs 0.93%/yr for AGQ.
Performance
DIG vs. AGQ - Performance Comparison
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Returns By Period
In the year-to-date period, DIG achieves a 62.13% return, which is significantly higher than AGQ's -60.66% return. Over the past 10 years, DIG has outperformed AGQ with an annualized return of 4.46%, while AGQ has yielded a comparatively lower 1.71% annualized return.
DIG
- 1D
- 0.87%
- 1M
- 16.92%
- 6M
- 43.45%
- YTD
- 62.13%
- 1Y
- 74.21%
- 3Y*
- 17.88%
- 5Y*
- 33.41%
- 10Y*
- 4.46%
- ALL TIME*
- -0.17%
AGQ
- 1D
- 0.96%
- 1M
- -28.17%
- 6M
- -74.91%
- YTD
- -60.66%
- 1Y
- 15.33%
- 3Y*
- 24.96%
- 5Y*
- 7.33%
- 10Y*
- 1.71%
- ALL TIME*
- 1.64%
DIG vs. AGQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DIG ProShares Ultra Oil & Gas | 62.13% | 2.73% | 0.93% | -13.04% | 125.34% | 115.63% | -70.36% | 12.51% | -40.11% | -7.39% |
AGQ ProShares Ultra Silver | -60.66% | 360.71% | 23.92% | -15.09% | -7.89% | -32.25% | 62.02% | 20.02% | -22.10% | 5.49% |
Correlation
The correlation between DIG and AGQ is 0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.12 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.18 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.16 |
Correlation (All Time) Calculated using the full available price history since Dec 4, 2008 | 0.22 |
Over the past year, the correlation between DIG and AGQ has dropped to 0.01 - well below their long-term average of 0.22, suggesting their price drivers have been diverging.
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Return for Risk
DIG vs. AGQ — Risk / Return Rank
DIG
AGQ
DIG vs. AGQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Oil & Gas (DIG) 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.
| DIG | AGQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.66 | ||
| Sortino ratioReturn per unit of downside risk | +1.12 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.17 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 2.50 | 0.18 | +2.32 |
| Martin ratioReturn relative to average drawdown | 6.44 | 0.31 | +6.13 |
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Drawdowns
DIG vs. AGQ - Drawdown Comparison
The maximum DIG drawdown since its inception was -97.04%, roughly equal to the maximum AGQ drawdown of -98.16%. Use the drawdown chart below to compare losses from any high point for DIG and AGQ.
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Drawdown Indicators
| DIG | AGQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -97.04% | -98.16% | +1.12% |
Max Drawdown (1Y)Largest decline over 1 year | -29.80% | -85.13% | +55.33% |
Max Drawdown (3Y)Largest decline over 3 years | -42.41% | -85.13% | +42.72% |
Max Drawdown (5Y)Largest decline over 5 years | -46.02% | -85.13% | +39.11% |
Max Drawdown (10Y)Largest decline over 10 years | -92.53% | -85.13% | -7.40% |
Current DrawdownCurrent decline from peak | -52.50% | -91.65% | +39.15% |
Average DrawdownAverage peak-to-trough decline | -64.30% | -79.91% | +15.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.56% | 48.99% | -37.43% |
Volatility
DIG vs. AGQ - Volatility Comparison
The current volatility for ProShares Ultra Oil & Gas (DIG) is 12.04%, while ProShares Ultra Silver (AGQ) has a volatility of 25.72%. This indicates that DIG experiences smaller price fluctuations and is considered to be less risky than AGQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DIG | AGQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.04% | 25.72% | -13.68% |
Volatility (6M)Calculated over the trailing 6-month period | 33.13% | 129.62% | -96.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 41.94% | 125.29% | -83.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 51.25% | 76.07% | -24.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 57.81% | 66.33% | -8.52% |
DIG vs. AGQ - Expense Ratio Comparison
DIG has a 0.95% expense ratio, which is higher than AGQ's 0.93% expense ratio.
Dividends
DIG vs. AGQ - Dividend Comparison
DIG's dividend yield for the trailing twelve months is around 1.53%, while AGQ has not paid dividends to shareholders.
| 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% |
DIG ProShares Ultra Oil & Gas | 1.53% | 2.62% | 3.13% | 0.61% | 1.33% | 2.24% | 3.18% | 2.72% | 2.30% | 1.76% | 1.09% | 1.56% |
Frequently Asked Questions
DIG and AGQ have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AGQ has higher volatility (25.72%) compared to DIG (12.04%). In terms of maximum drawdown, DIG dropped -97.04% vs AGQ's -98.16%.
On 10-year performance, DIG leads with 4.46% vs 1.71% for AGQ. On fees, AGQ is cheaper at 0.93% per year. On volatility, DIG has been the lower-risk option at 12.04%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, DIG has performed better with a 4.46% return vs 1.71%. 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 DIG.
DIG has the higher dividend yield at 1.53%, compared with 0.00% for AGQ.
DIG is categorized as Leveraged Equities, while AGQ is Silver. DIG tracks Dow Jones U.S. Oil & Gas Index (200%), while AGQ tracks Bloomberg Silver Subindex (200%). Their fees differ too: 0.95% for DIG and 0.93% for AGQ.
DIG currently has the higher Sharpe Ratio (1.78 vs 0.12), 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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