ProShares Ultra Silver ETF (AGQ) is rated a Buy, but only as a short-term trading tool, not a long-term investment. AGQ's leverage amplifies silver's volatility, requiring disciplined risk-reward management, stop-loss planning, and profit-taking strategies. Silver's bullish trend is intact, supported by a persistent supply-demand deficit and technical support above the 1980 high of $50.36/oz.
ProShares Ultra Silver ETF is rated Sell due to structural decay from its 2x daily-reset leverage, not because of a bearish silver outlook. AGQ consistently underperforms unlevered silver ETFs like SLV and SIVR, delivering only about 24% return versus SLV's 56% over the past year. Over nearly 17 years, AGQ compounded at 2% annually versus SIVR's 8.44%, turning $10,000 into $14,100 versus $39,600, highlighting persistent value leakage.
Silver fell towards $58.50 an ounce on Friday as a modest rebound in the US dollar prompted traders to trim positions after two sessions of gains. The metal was down about 0.8% at $58.52 in early trade, snapping a brief recovery that followed the Federal Reserve's decision to keep interest rates unchanged.
ProShares Ultra Silver (NYSEARCA:AGQ) and ProShares UltraShort Silver (NYSEARCA:ZSL) look like mirror images: one bets 2x long on silver, the other 2x short.
A $10,000 position in ProShares Ultra Silver (NYSEARCA:AGQ) at Friday's open was worth roughly $8,376 by the closing bell.
Silver has had a monster run, and traders who wanted to amplify the move reached for the ProShares Ultra Silver (NYSEARCA:AGQ).
Silver prices surged 7% Monday to the highest since March.
Silver bulls finally got their moonshot. ProShares Ultra Silver, the 2x daily leveraged silver futures ETF, returned roughly 184% over the past year as a COMEX physical-delivery squeeze reshaped the futures curve.
ProShares UltraPro Silver (AGQ) ETF did deliver a +311% price return since my last bullish article in August 2023, far outpacing the S&P 500. I am downgrading AGQ from Buy to Sell, projecting a significant silver price correction to continue over the next 3–6 months. I am thinking AGQ will potentially fall to $65–$80, well below its 200-day moving average, as silver's bull run pauses.
Top Performing Leveraged/Inverse ETFs Last Week These were last week's top performing leveraged and inverse ETFs. Note that because of leverage, these kinds of funds can move quickly.
Top Performing Leveraged/Inverse ETFs Last Week These were last week's top performing leveraged and inverse ETFs. Note that because of leverage, these kinds of funds can move quickly.
Top Performing Levered/Inverse ETFs Last Week These were last week's top performing leveraged and inverse ETFs. Note that because of leverage, these kinds of funds can move quickly.