Beta Slippage Cuts AGQ Returns to 197% vs Ideal 266% on Silver Rally

On May 29 2026, fresh analysis shows ProShares Ultra Silver (AGQ) lagging silver's 133% yearly gain, delivering only 197% instead of a theoretical 266% due to daily-reset decay. Year-to-date, SLV has risen 7% while AGQ has fallen 25%, highlighting how 3-5% daily moves and VIX above 25 accelerate losses. The reports warn that leveraged futures ETFs like AGQ suit only short-term traders and recommend physical silver vehicles such as SLV, PSLV or SIVR for longer horizons, potentially shifting investor flows away from leveraged products.