GDXU vs. AGQ
Compare and contrast key facts about MicroSectors Gold Miners 3X Leveraged ETN (GDXU) and ProShares Ultra Silver (AGQ).
GDXU and AGQ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. GDXU is a passively managed fund by BMO that tracks the performance of the S-Network MicroSectors Gold Miners Index. It was launched on Dec 2, 2020. AGQ is a passively managed fund by ProShares that tracks the performance of the Bloomberg Silver (200%). It was launched on Dec 1, 2008. Both GDXU and AGQ 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
GDXU vs. AGQ - Performance Comparison
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GDXU vs. AGQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
GDXU MicroSectors Gold Miners 3X Leveraged ETN | -6.09% | 796.47% | -18.60% | -21.36% | -62.82% | -54.93% | 4.66% |
AGQ ProShares Ultra Silver | -23.34% | 360.71% | 23.92% | -15.09% | -7.89% | -32.25% | 18.90% |
Returns By Period
In the year-to-date period, GDXU achieves a -6.09% return, which is significantly higher than AGQ's -23.34% return.
GDXU
- 1D
- 13.62%
- 1M
- -51.51%
- YTD
- -6.09%
- 6M
- 8.92%
- 1Y
- 287.76%
- 3Y*
- 63.33%
- 5Y*
- 6.19%
- 10Y*
- —
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%
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GDXU vs. AGQ - Expense Ratio Comparison
GDXU has a 0.95% expense ratio, which is higher than AGQ's 0.93% expense ratio.
Return for Risk
GDXU vs. AGQ — Risk / Return Rank
GDXU
AGQ
GDXU vs. AGQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MicroSectors Gold Miners 3X Leveraged ETN (GDXU) 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.
| GDXU | AGQ | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.07 | 1.40 | +0.67 |
Sortino ratioReturn per unit of downside risk | 2.39 | 2.00 | +0.38 |
Omega ratioGain probability vs. loss probability | 1.35 | 1.35 | -0.01 |
Calmar ratioReturn relative to maximum drawdown | 3.87 | 2.07 | +1.80 |
Martin ratioReturn relative to average drawdown | 10.85 | 5.57 | +5.27 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| GDXU | AGQ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.07 | 1.40 | +0.67 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.06 | 0.31 | -0.25 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.22 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.01 | 0.09 | -0.10 |
Correlation
The correlation between GDXU and AGQ is 0.77, 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
GDXU vs. AGQ - Dividend Comparison
Neither GDXU nor AGQ has paid dividends to shareholders.
Drawdowns
GDXU vs. AGQ - Drawdown Comparison
The maximum GDXU drawdown since its inception was -94.39%, roughly equal to the maximum AGQ drawdown of -98.16%. Use the drawdown chart below to compare losses from any high point for GDXU and AGQ.
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Drawdown Indicators
| GDXU | AGQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -94.39% | -98.16% | +3.77% |
Max Drawdown (1Y)Largest decline over 1 year | -73.16% | -76.21% | +3.05% |
Max Drawdown (5Y)Largest decline over 5 years | -93.34% | -76.21% | -17.13% |
Max Drawdown (10Y)Largest decline over 10 years | — | -76.25% | — |
Current DrawdownCurrent decline from peak | -56.42% | -83.72% | +27.30% |
Average DrawdownAverage peak-to-trough decline | -69.97% | -79.83% | +9.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 26.08% | 28.27% | -2.19% |
Volatility
GDXU vs. AGQ - Volatility Comparison
MicroSectors Gold Miners 3X Leveraged ETN (GDXU) has a higher volatility of 53.09% compared to ProShares Ultra Silver (AGQ) at 34.37%. This indicates that GDXU'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.
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Volatility by Period
| GDXU | AGQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 53.09% | 34.37% | +18.72% |
Volatility (6M)Calculated over the trailing 6-month period | 122.23% | 132.42% | -10.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 140.32% | 117.90% | +22.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 109.02% | 73.01% | +36.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 109.02% | 64.67% | +44.35% |