ZSL News & Analysis

AGQ and ZSL Facing Losses of 59% and 40% Year to Date

In 2026, ProShares Ultra Silver (AGQ) is down 58.74% year to date, while ProShares UltraShort Silver (ZSL) has decreased by 40.11%. Both funds are negatively impacted by daily leverage resets leading to volatility decay. AGQ has executed one reverse split since 2014, compared to ZSL's seven reverse splits since 2010. This decline reflects how inverse leverage affects performance in choppy markets, which is important for investors considering these ETFs in their portfolios.