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ProShares Ultra Silver (NYSEARCA:AGQ) and ProShares UltraShort Silver (NYSEARCA:ZSL) look like mirror images: one bets 2x long on silver, the other 2x short.
Silver's rally is losing steam as weak industrial demand, volatility and overvaluation concerns put inverse ETFs like ZSL in focus.
Top Performing Leveraged/Inverse ETFs Last Week These were last week's top performing leveraged and inverse ETFs. Note that because of leverage, these kinds of funds can move quickly.
The ProShares UltraShort Silver ETF is rated "Hold," suitable only for active traders seeking daily exposure to silver's potential price decline. Silver's sharp rally in 2025, followed by a 40% correction, signals heightened volatility and investor uncertainty amid shifting macro and geopolitical dynamics. Fund flows and trading volumes suggest silver's price action is increasingly driven by emotional, reactionary trading rather than fundamental allocation.
Leveraged ETFs surged amid market turmoil as stocks slid and commodities swung wildly. Inverse plays dominated -- here are last week's top winners.
Top Performing Leveraged/Inverse ETFs Last Week These were last week's top performing leveraged and inverse ETFs. Note that because of leverage, these kinds of funds can move quickly.
The S&P 500 was up about 17% in 2025, but has traded essentially flat so far in 2026, as investors wonder whether a prolonged rally may be about to give way to a major selloff—or whether a potentially overhyped AI market may collapse. For pessimists, one approach may be to focus on more stable stocks, including dividend payers, that can withstand potential upcoming volatility.
When silver surged past $115 per ounce in late January, ETF inflows data shows a significant shift in positioning. ProShares UltraSHORT Silver (NYSEARCA:ZSL) saw $327 million in inflows over two weeks, a striking vote of no confidence in the precious metal's rally. But inverse leveraged products cut both ways. The cost of betting against silver's... Investors Bought $327 Million of a Fund Losing 92% Per Year.
Full call transcripts — prepared remarks + analyst Q&A — with speaker-by-speaker formatting and one-click switching across every quarter on file.
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Transcripts source: company-published earnings calls. Speaker attribution and formatting are processed in-app.