ProShares Ultra Silver 2x Leveraged ETF (AGQ)

First, I'd want to say that I Iike to use math and statistics in my investment research and due diligence, because generally the cold, hard numbers don't lie. Either something is or it is not. But, more importantly, the numbers help to take some of the emotions out of investing. And, that's a good thing. So, many people like to invest in silver by buying the actual physical silver or a silver ETF. And, since the price of silver has historically been extremely volatile, there are those who don't mind this fact, because their tolerance for risk is very high. Well, to kick it up a notch or three for those who want it, there are precious metal ETFs backed by futures contracts. And, if that isn't enough, there are leveraged ETFs. So, for those with that high risk tolerance, I can across the ProShares Ultra Silver 2x Leveraged ETF (AGQ) and I've run my little return versus risk calculation. I use the historical stock and ETF data from the Yahoo Finance historic share price database. Also, I use annual data figures and not weekly or monthly or quarterly numbers So, using annualized numbers, from 2008 to 2025 this ProShares Ultra Silver 2x Leveraged ETF has produced a compound annual growth rate (CAGR) of 5.49%. That figure is much, much lower than the return of the S&P 500. That's the "reward" part of the equation. Now, if one had stayed invested during this entire period, the annual volatility (i.e., the "risk") as measured by the ETF's historical geometric standard deviation would have been a mind blowing 84.18%. For comparison, the long term historical geometric standard deviation of the S&P 500 is only a much more modest 15%. This ETF has definitely been wild ride. And, I really don't the averaged investor could have stomached it. So, over all, with this ETF having an annual volatility of 84.18% compared to an expected return of only 5.49% means the investment would probably not be a good fit for most investors. ☺️☺️☺️☺️