IRE.MI vs. AGQ

Last updated Jun 5, 2026

IRE.MI (Iren SpA) is a stock, while AGQ (ProShares Ultra Silver) is Silver fund tracking the Bloomberg Silver Subindex (200%). Over the past 10 years, IRE.MI returned 9.47%/yr vs 9.49%/yr for AGQ. At a 0.07 correlation, their price movements are largely independent.

Performance

IRE.MI vs. AGQ - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Iren SpA (IRE.MI) and ProShares Ultra Silver (AGQ). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

IRE.MI is traded in EUR, while AGQ is traded in USD. To make them comparable, the AGQ values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, IRE.MI achieves a 1.25% return, which is significantly higher than AGQ's -39.52% return. Both investments have delivered pretty close results over the past 10 years, with IRE.MI having a 9.47% annualized return and AGQ not far ahead at 9.49%.

IRE.MI

• 1D: -0.08%
• 1M: -1.37%
• YTD: 1.25%
• 6M: 2.13%
• 1Y: 0.66%
• 3Y*: 18.21%
• 5Y*: 5.52%
• 10Y*: 9.47%

AGQ

• 1D: -15.57%
• 1M: -23.89%
• YTD: -39.52%
• 6M: -18.17%
• 1Y: 94.26%
• 3Y*: 43.06%
• 5Y*: 13.00%
• 10Y*: 9.49%

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

IRE.MI vs. AGQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IRE.MI Iren SpA	1.25%	39.87%	3.46%	42.85%	-41.45%	29.53%	-19.84%	36.62%	-13.46%	65.38%
AGQ ProShares Ultra Silver	-39.52%	306.03%	32.10%	-17.64%	-2.18%	-27.19%	48.67%	22.73%	-18.44%	-7.48%

Correlation

The correlation between IRE.MI and AGQ is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.13
Correlation (3Y) Calculated over the trailing 3-year period	0.11
Correlation (5Y) Calculated over the trailing 5-year period	0.09
Correlation (10Y) Calculated over the trailing 10-year period	0.07
Correlation (All Time) Calculated using the full available price history since Dec 5, 2008	0.07

Return for Risk

IRE.MI vs. AGQ — Risk / Return Rank

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

IRE.MI

IRE.MI Risk / Return Rank: 38
IRE.MI Sharpe Ratio Rank: 40
IRE.MI Sortino Ratio Rank: 33
IRE.MI Omega Ratio Rank: 33
IRE.MI Calmar Ratio Rank: 41
IRE.MI Martin Ratio Rank: 40

AGQ

AGQ Risk / Return Rank: 29
AGQ Sharpe Ratio Rank: 23
AGQ Sortino Ratio Rank: 32
AGQ Omega Ratio Rank: 44
AGQ Calmar Ratio Rank: 26
AGQ Martin Ratio Rank: 20

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.

IRE.MI vs. AGQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Iren SpA (IRE.MI) 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.

	IRE.MI	AGQ	Difference
Sharpe ratio: Return per unit of total volatility	-0.01	0.79	-0.80
Sortino ratio: Return per unit of downside risk	0.12	1.66	-1.53
Omega ratio: Gain probability vs. loss probability	1.02	1.28	-0.26
Calmar ratio: Return relative to maximum drawdown	-0.01	1.24	-1.26
Martin ratio: Return relative to average drawdown	-0.04	2.36	-2.40
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IRE.MI vs. AGQ - Sharpe Ratio Comparison

The current IRE.MI Sharpe Ratio is -0.01, which is lower than the AGQ Sharpe Ratio of 0.79. The chart below compares the historical Sharpe Ratios of IRE.MI 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.

Sharpe Ratios by Period

	IRE.MI	AGQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.01	0.79	-0.80
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.22	0.18	+0.04
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.38	0.15	+0.23
Sharpe Ratio (All Time) Calculated using the full available price history	0.22	0.08	+0.14

Drawdowns

IRE.MI vs. AGQ - Drawdown Comparison

The maximum IRE.MI drawdown since its inception was -89.17%, smaller than the maximum AGQ drawdown of -97.50%. Use the drawdown chart below to compare losses from any high point for IRE.MI and AGQ.

Drawdown Indicators

	IRE.MI	AGQ	Difference
Max Drawdown Largest peak-to-trough decline	-89.17%	-97.50%	+8.33%
Max Drawdown (1Y) Largest decline over 1 year	-16.26%	-76.16%	+59.90%
Max Drawdown (3Y) Largest decline over 3 years	-19.21%	-76.16%	+56.95%
Max Drawdown (5Y) Largest decline over 5 years	-52.87%	-76.16%	+23.29%
Max Drawdown (10Y) Largest decline over 10 years	-52.87%	-76.16%	+23.29%
Current Drawdown Current decline from peak	-8.94%	-83.79%	+74.85%
Average Drawdown Average peak-to-trough decline	-34.76%	-78.02%	+43.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.97%	40.01%	-34.04%

Volatility

IRE.MI vs. AGQ - Volatility Comparison

The current volatility for Iren SpA (IRE.MI) is 5.76%, while ProShares Ultra Silver (AGQ) has a volatility of 34.56%. This indicates that IRE.MI 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.

Volatility by Period

	IRE.MI	AGQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.76%	34.56%	-28.80%
Volatility (6M) Calculated over the trailing 6-month period	16.26%	132.99%	-116.73%
Volatility (1Y) Calculated over the trailing 1-year period	20.75%	120.35%	-99.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.59%	72.94%	-48.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.80%	63.93%	-39.13%

Dividends

IRE.MI vs. AGQ - Dividend Comparison

IRE.MI's dividend yield for the trailing twelve months is around 4.96%, 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%
IRE.MI Iren SpA	4.96%	5.02%	6.19%	5.58%	7.15%	3.58%	4.35%	3.04%	3.34%	2.50%	3.53%	3.51%

Frequently Asked Questions

Can I hold both IRE.MI and AGQ in my portfolio?

IRE.MI and AGQ have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.