Average Daily Volume
2.24M
Fund Overview
The ProShares Ultra Silver (AGQ) is an exchange-traded fund (ETF) that seeks to provide daily investment results that correspond to twice (2x) the daily performance of silver bullion as measured by the U.S. dollar fixing price for delivery in London. AGQ is designed for investors looking to magnify their exposure to silver prices on a short-term basis. The fund uses futures contracts, swaps, and other derivative instruments to achieve its leveraged objective. It is important to note that AGQ is intended for short-term trading due to the effects of compounding and leverage decay over longer periods.
- Asset Class
-
Commodity
- Industry
-
Silver Miners
- Annual Dividend Rate
-
- Smart Beta
-
No
- Leveraged / Inverse
-
N/A / No
- Dividend Quality - Yield
-
- N/A
- Currency Hedged
-
No
- Portfolio Turnover
-
0 %
- Dividend Date
-
Why Invest in the AGQ ETF?
Potential Benefits
- Offers 2x leveraged exposure to daily silver price movements, potentially amplifying short-term gains.
- Provides a cost-effective way to gain leveraged exposure to silver without using margin accounts.
- Liquidity is generally high, allowing for easy entry and exit positions.
- Can serve as a hedge against inflation or currency devaluation due to silver's historical role as a store of value.
- No need to directly trade futures contracts, simplifying access to leveraged silver exposure.
Potential Risks
- Leverage magnifies losses as well as gains, potentially leading to significant losses in adverse market conditions.
- Compounding effects can erode returns over longer holding periods, making the fund unsuitable for buy-and-hold strategies.
- Exposure to contango risk in silver futures markets, which can negatively impact performance.
- Higher expense ratio compared to non-leveraged silver ETFs due to the cost of maintaining leveraged positions.
- Volatility in silver prices can lead to rapid and substantial swings in the fund's value.
RSI data unavailable or insufficient history.
Monthly Returns (%)
| Year |
Jan |
Feb |
Mar |
Apr |
May |
Jun |
Jul |
Aug |
Sep |
Oct |
Nov |
Dec |
| 2026 |
+3.2%
|
+20.7%
|
-38.2%
|
-6.2%
|
+2.1%
|
-40.6%
|
-6.0%
|
+29.7%
|
-19.3%
|
+3.6%
|
-
|
-
|
| 2025 |
+20.6%
|
-5.3%
|
+20.1%
|
-14.5%
|
+1.9%
|
+18.0%
|
+2.1%
|
+20.0%
|
+31.0%
|
+3.8%
|
+35.6%
|
+44.5%
|
| 2024 |
-8.9%
|
-2.6%
|
+19.3%
|
+10.1%
|
+30.5%
|
-10.2%
|
-2.9%
|
-2.1%
|
+14.7%
|
+8.4%
|
-12.9%
|
-11.8%
|
| 2023 |
-2.7%
|
-23.6%
|
+31.4%
|
+7.3%
|
-13.1%
|
-7.5%
|
+16.8%
|
-3.7%
|
-18.8%
|
+5.0%
|
+20.5%
|
-12.8%
|
| 2022 |
-7.8%
|
+17.9%
|
+2.1%
|
-17.5%
|
-11.6%
|
-12.9%
|
-0.7%
|
-23.8%
|
+12.2%
|
-0.4%
|
+34.3%
|
+15.2%
|
| 2021 |
+1.0%
|
-5.7%
|
-15.8%
|
+11.4%
|
+16.5%
|
-13.5%
|
-5.8%
|
-13.0%
|
-15.4%
|
+16.3%
|
-10.2%
|
+4.0%
|
| 2020 |
+0.8%
|
-16.5%
|
-30.8%
|
+9.5%
|
+48.0%
|
-1.8%
|
+70.2%
|
+27.2%
|
-34.2%
|
+1.7%
|
-10.8%
|
+35.2%
|
| 2019 |
+6.8%
|
-6.6%
|
-6.9%
|
-2.8%
|
-5.6%
|
+9.8%
|
+12.0%
|
+26.1%
|
-15.3%
|
+12.1%
|
-12.4%
|
+9.4%
|
| 2018 |
+4.1%
|
-10.8%
|
-1.1%
|
-0.7%
|
+0.5%
|
-4.4%
|
-7.3%
|
-13.5%
|
+1.3%
|
-5.4%
|
-1.8%
|
+18.0%
|
| 2017 |
+21.1%
|
+8.3%
|
-2.0%
|
-11.0%
|
+0.5%
|
-8.4%
|
+1.8%
|
+8.4%
|
-11.1%
|
+0.4%
|
-3.8%
|
+5.7%
|
< -5%
-5% to -2%
-2% to 0%
0%
0% to +2%
+2% to +5%
> +5%
Top Holdings (by weight)
| Symbol |
Company Name |
Weight |
No holdings data available.
Related ETFs: AGQ vs Peers
Comparison highlights key differences on cost, coverage, and focus within sector ETFs.
Investment Strategy
AGQ seeks to deliver 2x the daily performance of silver prices by investing primarily in silver futures contracts and other derivative instruments such as swaps. The fund does not hold physical silver but instead uses financial instruments to replicate leveraged exposure. The portfolio is rebalanced daily to maintain the target leverage ratio, which means the fund's performance over periods longer than one day may differ significantly from 2x the cumulative return of silver due to compounding effects. This daily reset makes AGQ suitable only for short-term trading strategies.
Frequently Asked Questions
Is AGQ suitable for long-term investing?
No, AGQ is designed for short-term trading due to the effects of daily leverage resetting, which can erode returns over time.
Does AGQ hold physical silver?
No, AGQ uses futures contracts and other derivatives to achieve its leveraged exposure rather than holding physical silver.
What factors influence AGQ's performance?
AGQ's performance is primarily driven by changes in the price of silver, leverage mechanics, and the cost of maintaining derivative positions.
How does AGQ compare to non-leveraged silver ETFs?
AGQ offers 2x daily leverage, amplifying both gains and losses, while non-leveraged ETFs like SLV provide direct exposure to silver prices with lower risk.
Industry Overview
The ProShares Ultra Silver (AGQ) is part of the leveraged commodities ETF sector, specifically targeting silver. Silver, often referred to as 'poor man's gold,' serves both as a precious metal and an industrial commodity. Investing in silver through leveraged ETFs like AGQ appeals to traders looking to capitalize on short-term price movements. Silver's price is influenced by industrial demand (e.g., electronics, solar panels), investment demand, and macroeconomic factors such as inflation and currency fluctuations. AGQ provides a tool for those seeking amplified exposure to these dynamics, though it carries higher risks than non-leveraged silver investments.
Alternative Comparison
Compared to non-leveraged silver ETFs like SLV or SIVR, AGQ offers amplified exposure but at the cost of higher risk and expense. SLV, for example, provides direct exposure to physical silver bullion, making it more suitable for long-term investors. Another leveraged alternative, USLV (VelocityShares 3x Long Silver ETN), offers even higher leverage (3x) but carries greater volatility and risks. AGQ strikes a balance between leverage and manageability, though its daily reset mechanism means it is not ideal for extended holding periods.
Issuer Overview
ProShares is a leading provider of leveraged and inverse ETFs, known for its innovative products designed to meet various investment strategies. The firm specializes in ETFs that offer magnified or inverse exposure to a wide range of asset classes, including equities, commodities, and fixed income. ProShares' leveraged ETFs, like AGQ, are popular among sophisticated traders but come with significant risks due to their use of derivatives and daily reset mechanisms.
Conclusion
AGQ is a specialized tool for traders seeking short-term, leveraged exposure to silver price movements. While it can enhance returns in favorable market conditions, its risks—including leverage decay and volatility—make it unsuitable for most long-term investors. Those considering AGQ should have a high risk tolerance, a clear understanding of leveraged ETFs, and a disciplined trading strategy to manage potential downsides.
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