OILU vs. AGQ
OILU (MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN) and AGQ (ProShares Ultra Silver) are both exchange-traded funds - OILU is a Leveraged Commodities fund managed by BMO, while AGQ is a Silver fund tracking the Bloomberg Silver Subindex (200%). Over the past 3 years, OILU returned 10.60%/yr vs 54.17%/yr for AGQ. At a 0.18 correlation, their price movements are largely independent. OILU charges 0.95%/yr vs 0.93%/yr for AGQ.
Performance
OILU vs. AGQ - Performance Comparison
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Returns By Period
In the year-to-date period, OILU achieves a 96.53% return, which is significantly higher than AGQ's -30.83% return.
OILU
- 1D
- 3.64%
- 1M
- -10.84%
- YTD
- 96.53%
- 6M
- 77.49%
- 1Y
- 115.83%
- 3Y*
- 10.60%
- 5Y*
- —
- 10Y*
- —
AGQ
- 1D
- -5.25%
- 1M
- -1.76%
- YTD
- -30.83%
- 6M
- -5.75%
- 1Y
- 142.76%
- 3Y*
- 54.17%
- 5Y*
- 15.27%
- 10Y*
- 11.35%
OILU vs. AGQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
OILU MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN | 96.53% | -16.50% | -21.65% | -32.50% | 151.08% | -17.87% |
AGQ ProShares Ultra Silver | -30.83% | 360.71% | 23.92% | -15.09% | -7.89% | -9.77% |
Correlation
The correlation between OILU and AGQ is 0.06, 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 | 0.06 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.14 |
Correlation (All Time) Calculated using the full available price history since Nov 10, 2021 | 0.18 |
The correlation between OILU and AGQ shifts across timeframes, from 0.06 (1 year) to 0.18 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
OILU vs. AGQ — Risk / Return Rank
OILU
AGQ
OILU vs. AGQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN (OILU) 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.
| OILU | AGQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.69 | ||
| Sortino ratioReturn per unit of downside risk | +0.34 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.32 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 3.48 | 1.88 | +1.59 |
| Martin ratioReturn relative to average drawdown | 8.74 | 3.59 | +5.15 |
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
| OILU | AGQ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.87 | 1.19 | +0.69 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.21 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.17 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.17 | 0.08 | +0.09 |
Drawdowns
OILU vs. AGQ - Drawdown Comparison
The maximum OILU drawdown since its inception was -81.00%, smaller than the maximum AGQ drawdown of -98.16%. Use the drawdown chart below to compare losses from any high point for OILU and AGQ.
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Drawdown Indicators
| OILU | AGQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -81.00% | -98.16% | +17.16% |
Max Drawdown (1Y)Largest decline over 1 year | -33.51% | -76.21% | +42.70% |
Max Drawdown (3Y)Largest decline over 3 years | -69.09% | -76.21% | +7.12% |
Max Drawdown (5Y)Largest decline over 5 years | — | -76.21% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -76.25% | — |
Current DrawdownCurrent decline from peak | -47.14% | -85.31% | +38.17% |
Average DrawdownAverage peak-to-trough decline | -50.59% | -79.86% | +29.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.32% | 39.92% | -26.60% |
Volatility
OILU vs. AGQ - Volatility Comparison
The current volatility for MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN (OILU) is 25.14%, while ProShares Ultra Silver (AGQ) has a volatility of 33.51%. This indicates that OILU 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
| OILU | AGQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 25.14% | 33.51% | -8.37% |
Volatility (6M)Calculated over the trailing 6-month period | 49.94% | 133.70% | -83.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 62.23% | 120.79% | -58.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 81.16% | 74.68% | +6.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 81.16% | 65.66% | +15.50% |
OILU vs. AGQ - Expense Ratio Comparison
OILU has a 0.95% expense ratio, which is higher than AGQ's 0.93% expense ratio.
Dividends
OILU vs. AGQ - Dividend Comparison
Neither OILU nor AGQ has paid dividends to shareholders.
Frequently Asked Questions
OILU and AGQ have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AGQ has higher volatility (33.51%) compared to OILU (25.14%). In terms of maximum drawdown, OILU dropped -81.00% vs AGQ's -98.16%.
On 3-year performance, AGQ leads with 54.17% vs 10.60% for OILU. On fees, AGQ is cheaper at 0.93% per year. On volatility, OILU has been the lower-risk option at 25.14%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, AGQ has performed better with a 54.17% return vs 10.60%. 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 OILU.
OILU and AGQ have nearly identical dividend yields, around 0.00%.
OILU is categorized as Leveraged Commodities, while AGQ is Silver. They also come from different issuers: BMO and ProShares. Their fees differ too: 0.95% for OILU and 0.93% for AGQ.
OILU currently has the higher Sharpe Ratio (1.87 vs 1.19), 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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