Advertisement
AGQ vs UGL
Which ETF would AI Choose? ProShares Ultra Silver (AGQ) vs. ProShares Ultra Gold (UGL)
Key Takeaways
- Both AGQ and UGL are 2x daily leveraged ETFs issued by ProShares that provide magnified exposure to precious metals futures rather than physical bullion.
- AGQ targets twice the daily performance of the Bloomberg Silver Subindex, while UGL targets twice the daily performance of the Bloomberg Gold Subindex, creating distinct commodity-specific risk profiles.
- Each fund maintains an identical expense ratio of 0.95% and employs a futures-and-swaps structure with daily reset, introducing compounding effects over multi-day holding periods.
- Neither ETF holds individual securities or maintains traditional sector allocations; exposure is concentrated in a single commodity via rolling futures contracts.
- Structural similarities allow investors to express tactical views on relative performance between gold and silver within the broader precious metals theme.
- Liquidity and transparency derive from the same issuer platform, though silver’s higher volatility typically results in greater daily swings for AGQ compared with UGL.
Introduction
ProShares Ultra Silver (AGQ) and ProShares Ultra Gold (UGL) offer parallel yet differentiated leveraged exposure to precious metals. Rather than competing directly, the two ETFs provide investors with targeted 2x daily tools for expressing bullish or tactical views on silver versus gold. In the current environment of fluctuating interest-rate expectations and ongoing geopolitical uncertainty, both funds allow precise positioning within the same thematic sector while highlighting the distinct supply-demand dynamics of each metal.
ProShares Ultra Silver (AGQ) Overview
ProShares Ultra Silver (AGQ) seeks daily investment results, before fees and expenses, that correspond to two times (2x) the daily performance of the Bloomberg Silver Subindex. The fund is structured as a commodity pool and does not hold physical silver. Exposure is achieved through futures contracts and total-return swaps, with daily rebalancing to maintain the 2x target. The expense ratio stands at 0.95%. Because the strategy resets daily, returns over periods longer than one trading session can differ materially from 2x the underlying index due to compounding. The fund maintains a concentrated, single-commodity profile without traditional equity-style holdings or sector breakdowns.
ProShares Ultra Gold (UGL) Overview
ProShares Ultra Gold (UGL) seeks daily investment results, before fees and expenses, that correspond to two times (2x) the daily performance of the Bloomberg Gold Subindex. Like its silver counterpart, the ETF operates as a commodity pool utilizing futures and swaps rather than physical metal. Daily rebalancing keeps the leverage ratio aligned with the objective. The expense ratio is also 0.95%. The structure produces no traditional holdings list or sector allocations, resulting in pure, concentrated exposure to gold futures price movements. Investors should note the daily-reset mechanism and its implications for longer-term holding periods.
Industry and Thematic Backdrop
Both ETFs operate within the precious-metals sector, where gold and silver prices respond to macroeconomic factors including inflation trends, real interest rates, central-bank purchasing activity, and geopolitical risk. Silver exhibits greater industrial demand sensitivity, particularly in electronics and solar energy, while gold serves primarily as a monetary asset. Recent market cycles have featured shifting capital flows between the two metals based on economic growth expectations and monetary-policy signals. Regulatory developments around commodity derivatives and exchange-traded products continue to influence liquidity and product design in this space.
Performance and Positioning Comparison
In recent weeks and months, relative performance between the two funds has reflected broader precious-metals rotation driven by interest-rate expectations and commodity-specific supply dynamics. Silver’s higher beta to industrial activity and economic sentiment typically amplifies AGQ’s daily moves compared with UGL. Over multiple market cycles, the daily-reset leverage in both products produces path-dependent outcomes that reward consistent trend alignment and penalize volatility. Investors seeking tactical exposure may favor one metal over the other depending on prevailing macro drivers such as manufacturing data or safe-haven demand.
AI Screener
Tickeron’s AI Screener is an AI-powered stock and ETF discovery tool that helps traders and investors filter the market based on technical patterns, fundamentals, trends, volatility, and AI-driven signals. Users can scan thousands of stocks and ETFs using customizable filters such as industry, market capitalization, technical indicators, price patterns, and performance metrics. The screener helps identify trade ideas, trending stocks, breakout candidates, and market opportunities more efficiently than manual screening. Explore the AI Screener to refine your ETF analysis.
Tickeron AI Verdict
Based on structural similarity, cost parity, and observable sector momentum factors, Tickeron’s AI currently assigns a modest probabilistic edge to ProShares Ultra Gold (UGL) due to gold’s historically more stable demand profile and lower relative volatility within the precious-metals complex. The assessment remains conditional on continued alignment of macroeconomic drivers and could shift with changes in interest-rate expectations or industrial demand trends.
Disclaimer
The information on this webpage is provided for general informational and educational purposes only and is not intended as investment advice, a recommendation to purchase or sell any security, or an offer or solicitation related to investments. It does not consider your personal financial situation, goals, or risk profile, and all investing carries inherent risks, including the possibility of losing your entire investment. For more details, please review our full disclaimer.
To compare these two companies we present long-term analysis, their fundamental ratings and make comparative short-term technical analysis which are presented below. The conclusion is AGQ is a StrongBuy and UGL is a Hold.
AGQ in +2.77% Uptrend, growing for three consecutive days on October 21, 2026
Moving higher for three straight days is viewed as a bullish sign. Keep an eye on this stock for future growth. Considering data from situations where AGQ advanced for three days, in 275 of 302 cases, the price rose further within the following month. The odds of a continued upward trend are 90%.
Technical Analysis (Indicators)
Bullish Trend Analysis
The RSI Indicator points to a transition from a downward trend to an upward trend -- in cases where AGQ's RSI Oscillator exited the oversold zone, 24 of 27 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are 89%.
The Stochastic Oscillator shows that the ticker has stayed in the oversold zone for 9 days. The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an upward trend is expected.
AGQ may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
Bearish Trend Analysis
Following a 3-day decline, the stock is projected to fall further. Considering past instances where AGQ declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 89%.
The Aroon Indicator for AGQ entered a downward trend on November 04, 2026. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
UGL's Indicator enters downward trend
The Aroon Indicator for UGL entered a downward trend on November 04, 2026. Tickeron's A.I.dvisor identified a pattern where the AroonDown red line was above 70 while the AroonUp green line was below 30 for three straight days. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options. A.I.dvisor looked at 145 similar instances where the Aroon Indicator formed such a pattern. In 121 of the 145 cases the stock moved lower. This puts the odds of a downward move at 83%.
Technical Analysis (Indicators)
Bearish Trend Analysis
The Momentum Indicator moved below the 0 level on October 22, 2026. You may want to consider selling the stock, shorting the stock, or exploring put options on UGL as a result. In 74 of 90 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are 82%.
The Moving Average Convergence Divergence Histogram (MACD) for UGL turned negative on October 22, 2026. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 50 similar instances when the indicator turned negative. In 39 of the 50 cases the stock turned lower in the days that followed. This puts the odds of success at 78%.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where UGL declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 79%.
Bullish Trend Analysis
The RSI Oscillator points to a transition from a downward trend to an upward trend -- in cases where UGL's RSI Oscillator exited the oversold zone, 16 of 17 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are 90%.
The Stochastic Oscillator suggests the stock price trend may be in a reversal from a downward trend to an upward trend. 48 of 55 cases where UGL's Stochastic Oscillator exited the oversold zone resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are 87%.
Following a +3.10% 3-day Advance, the price is estimated to grow further. Considering data from situations where UGL advanced for three days, in 285 of 325 cases, the price rose further within the following month. The odds of a continued upward trend are 88%.
UGL may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
| AGQ | UGL | |
|---|---|---|
| RSI ODDS (%) | 1 day ago 89% | 1 day ago 90% |
| Stochastic ODDS (%) | 1 day ago 85% | 1 day ago 87% |
| Momentum ODDS (%) | N/A | 1 day ago 82% |
| MACD ODDS (%) | N/A | 1 day ago 78% |
| TrendWeek ODDS (%) | 1 day ago 90% | 1 day ago 84% |
| TrendMonth ODDS (%) | 1 day ago 90% | 1 day ago 84% |
| Advances ODDS (%) | 16 days ago 90% | 9 days ago 88% |
| Declines ODDS (%) | 7 days ago 89% | 7 days ago 79% |
| BollingerBands ODDS (%) | 1 day ago 90% | 1 day ago 85% |
| Aroon ODDS (%) | 1 day ago 90% | 1 day ago 83% |
Advertisement