ProShares Trust II - ProShares Ultra Silver(NYSEMKT) AGQ

ProShares Ultra Silver lets investors access double the daily movement of silver prices. It uses financial contracts, not physical silver, to achieve this. The fund is designed for short-term traders seeking amplified exposure to silver price changes.

Shiny Tools: What ProShares Ultra Silver Offers

• Leveraged Silver ETF: Seeks to deliver 2x the daily return of a silver benchmark; targets active traders.
• Derivatives-Based Exposure: Uses futures, swaps, and options to track silver prices; does not hold physical silver.
• Intraday Trading: Shares trade on NYSE Arca, allowing real-time buying and selling during market hours.
• Collateral Management: Holds U.S. government securities and cash for liquidity and to back derivative positions.
• Single-Segment Focus: All fund assets are dedicated to leveraged silver exposure; no diversification into other commodities.

Growth Spurts: How ProShares Ultra Silver Has Evolved

• Launched in December 2008 as part of ProShares Trust II suite of commodity ETFs.
• Expanded product lineup alongside other leveraged and inverse ETFs under ProShares brand.
• No major acquisitions, partnerships, or new product launches reported for Ultra Silver in 2024-2025.
• Maintained focus on derivatives-based silver exposure; no entry into physical commodity markets.

Silver Linings: What Sets ProShares Ultra Silver Apart

The fund offers daily leveraged exposure to silver, not long-term tracking. It uses a mix of financial contracts for flexibility and quick rebalancing. Its structure allows for intraday trading and liquidity, appealing to tactical investors.

Five Things You Need to Know

• Net income was $228.7 million for six months ended June 2025, up 44.6% year-on-year.
• Net asset value per share rose 40.2% to $47.07 from December 2024 to June 2025.
• Expense ratio was 0.99% annualized for the six months ended June 2025.
• Shares outstanding fell to 15.0 million by June 2025, down from 16.7 million in December 2024.
• Fund does not invest in physical silver; all exposure is through derivatives.

Bottom Line

ProShares Ultra Silver provides leveraged, short-term silver exposure using financial contracts. Its structure suits active traders seeking amplified daily price movements, not long-term investors.