KOLD vs. AGQ
Compare and contrast key facts about ProShares UltraShort Bloomberg Natural Gas (KOLD) and ProShares Ultra Silver (AGQ).
KOLD and AGQ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. KOLD is a passively managed fund by ProShares that tracks the performance of the Bloomberg Natural Gas Subindex (TR) (200%). It was launched on Oct 4, 2011. 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 KOLD 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
KOLD vs. AGQ - Performance Comparison
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KOLD vs. AGQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
KOLD ProShares UltraShort Bloomberg Natural Gas | -38.45% | -17.48% | -11.34% | 249.82% | -88.62% | -74.44% | 22.05% | 82.94% | -46.48% | 72.02% |
AGQ ProShares Ultra Silver | -22.96% | 360.71% | 23.92% | -15.09% | -7.89% | -32.25% | 62.02% | 20.02% | -22.10% | 5.49% |
Returns By Period
In the year-to-date period, KOLD achieves a -38.45% return, which is significantly lower than AGQ's -22.96% return. Over the past 10 years, KOLD has underperformed AGQ with an annualized return of -29.03%, while AGQ has yielded a comparatively higher 14.30% annualized return.
KOLD
- 1D
- -0.73%
- 1M
- -7.42%
- YTD
- -38.45%
- 6M
- -37.60%
- 1Y
- 10.94%
- 3Y*
- -15.68%
- 5Y*
- -43.73%
- 10Y*
- -29.03%
AGQ
- 1D
- 15.10%
- 1M
- -38.20%
- YTD
- -22.96%
- 6M
- 56.75%
- 1Y
- 158.90%
- 3Y*
- 56.41%
- 5Y*
- 22.79%
- 10Y*
- 14.30%
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KOLD vs. AGQ - Expense Ratio Comparison
KOLD has a 0.95% expense ratio, which is higher than AGQ's 0.93% expense ratio.
Return for Risk
KOLD vs. AGQ — Risk / Return Rank
KOLD
AGQ
KOLD vs. AGQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Bloomberg Natural Gas (KOLD) 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.
| KOLD | AGQ | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.09 | 1.36 | -1.27 |
Sortino ratioReturn per unit of downside risk | 1.02 | 1.98 | -0.96 |
Omega ratioGain probability vs. loss probability | 1.13 | 1.35 | -0.22 |
Calmar ratioReturn relative to maximum drawdown | 0.11 | 2.08 | -1.97 |
Martin ratioReturn relative to average drawdown | 0.27 | 5.67 | -5.40 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| KOLD | AGQ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.09 | 1.36 | -1.27 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.37 | 0.31 | -0.68 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.29 | 0.22 | -0.51 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.15 | 0.09 | -0.23 |
Correlation
The correlation between KOLD and AGQ is 0.00, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
KOLD vs. AGQ - Dividend Comparison
Neither KOLD nor AGQ has paid dividends to shareholders.
Drawdowns
KOLD vs. AGQ - Drawdown Comparison
The maximum KOLD drawdown since its inception was -99.45%, roughly equal to the maximum AGQ drawdown of -98.16%. Use the drawdown chart below to compare losses from any high point for KOLD and AGQ.
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Drawdown Indicators
| KOLD | AGQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.45% | -98.16% | -1.29% |
Max Drawdown (1Y)Largest decline over 1 year | -72.50% | -76.21% | +3.71% |
Max Drawdown (5Y)Largest decline over 5 years | -98.91% | -76.21% | -22.70% |
Max Drawdown (10Y)Largest decline over 10 years | -99.45% | -76.25% | -23.20% |
Current DrawdownCurrent decline from peak | -97.48% | -83.64% | -13.84% |
Average DrawdownAverage peak-to-trough decline | -69.15% | -79.82% | +10.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 31.16% | 27.99% | +3.17% |
Volatility
KOLD vs. AGQ - Volatility Comparison
The current volatility for ProShares UltraShort Bloomberg Natural Gas (KOLD) is 29.18%, while ProShares Ultra Silver (AGQ) has a volatility of 38.31%. This indicates that KOLD 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
| KOLD | AGQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 29.18% | 38.31% | -9.13% |
Volatility (6M)Calculated over the trailing 6-month period | 101.24% | 132.42% | -31.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 120.63% | 117.89% | +2.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 118.49% | 73.03% | +45.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 101.91% | 64.68% | +37.23% |