Welcome to our dedicated page for ProShares Ultra Silver SEC filings (Ticker: AGQ), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
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ProShares Trust offers continuously traded leveraged exchange-traded funds that seek daily 2x or -2x exposure to benchmarks, including ProShares Ultra Silver (AGQ) and related Oil and Precious Metals Funds, listed on NYSE Arca.
Shares trade in the secondary market; creations and redemptions occur only in Creation Units of 50,000 Shares. Each Fund seeks its daily target only for a single day and uses Financial Instruments (futures, swaps, forwards, options) rather than physical commodities. The prospectus highlights significant risks including daily leverage, compounding effects, potential for a complete loss in a single day, Schedule K-1 tax reporting, and geopolitical and market‑liquidity risks.
ProShares Trust registered continuous offerings of common units for three VIX futures-based series: ProShares VIX Short-Term Futures ETF (VIXY), ProShares Ultra VIX Short-Term Futures ETF (UVXY) and ProShares Short VIX Short-Term Futures ETF (SVXY). Each Fund’s Shares trade on Cboe BZX.
The Matching Fund seeks to track the S&P 500 VIX Short-Term Futures Index. The Ultra Fund targets 1.5x the Index’s daily performance and the Short Fund targets -0.5x the Index’s daily performance; both are daily rebalanced and intended for short-term use. The prospectus warns of significant risks including leverage, daily compounding effects, potential for total loss within a single day, and illiquidity. Creation Unit sizes are disclosed (50,000 Shares for Geared Funds; 25,000 Shares for the Matching Fund). The prospectus also states each Fund will issue a Schedule K-1 to shareholders and lists NAV and create/redeem timing conventions.
ProShares Trust offers continuous secondary-market common units of multiple series, including a VIX Mid‑Term Futures matching fund and several daily "geared" (2x or -2x) funds. Shares transact on NYSE Arca or Cboe BZX; creations/redemptions occur in Creation Units of 50,000 shares (25,000 for the VIX fund).
The Geared Funds target daily multiples only and use futures, swaps and other financial instruments; NAV calculation times vary by fund (typically between 1:25 p.m. and 4:00 p.m. ET). The prospectus emphasizes significant risks for geared funds, the VIX Futures Fund’s short‑term focus, Schedule K‑1 tax reporting, and that these series are not investment companies under the 1940 Act.
ProShares Trust II is a Delaware commodity pool trust operating 16 exchange-traded funds that provide leveraged and inverse exposure to VIX futures, crude oil, natural gas, gold, silver, the euro and the yen. The funds use futures, swaps and forwards instead of holding physical commodities or currencies.
The Geared Funds target daily returns of -0.5x, -2x, 1.5x or 2x of their benchmarks, so performance over longer periods can differ sharply from headline multiples due to daily compounding and volatility. As of June 30, 2025, ProShares Ultra Silver had aggregate market value of $708,196,011, with 16,296,526 units outstanding as of February 23, 2026.
The Trust details multiple forward and reverse share splits across its VIX and commodity funds, which changed share counts and prices but not investor account value. Shares are created and redeemed only in large Creation Units by Authorized Participants, who transact with the funds in cash and, at times, via futures block trades or exchanges for related positions.
ProShares updated several prospectuses to permit each Fund to use an affiliated money market ETF as its primary cash management vehicle, effective immediately. The supplement states the affiliated Money Market ETF invests in U.S. Treasury securities with short maturities and is managed by an affiliate of the Sponsor.
The Sponsor will assume the affiliated ETF's management fees and expects an initial transition without brokerage fees; subsequent trading in the affiliated ETF may incur brokerage fees similar to current costs. The Funds' investment objectives and principal strategies will not change; several disclosures and risk-factor paragraphs were added addressing price fluctuations and potential conflicts of interest.
ProShare Capital Management approved the use of an affiliated money market ETF as the primary cash management vehicle for ProShares Ultra Bloomberg Crude Oil (UCO), ProShares UltraShort Bloomberg Crude Oil (SCO), ProShares Ultra Gold (UGL), and ProShares Ultra Silver (AGQ), effective February 18, 2026. The Sponsor will assume the management fees on investments in the affiliated Money Market ETF and expects an initial transition without brokerage fees. The Funds may still use other money market instruments and their investment objectives and principal strategies will not change. The prospectus and risk sections are updated to add disclosures about market risks, potential share-price fluctuation of the affiliated ETF, and conflicts of interest arising from the affiliation.
ProShare Capital Management approved using an affiliated money market ETF as the primary cash management vehicle for the listed Funds, effective immediately. The Sponsor will assume the affiliated ETF's management fees and expects no change to each Fund's investment objectives or principal strategies.
The supplement adds disclosure of new Money Market Instruments language, expands risk disclosures to note potential share‑price fluctuation and investor concentration in the affiliated ETF, and expressly warns of potential conflicts of interest despite the fee waiver. The change permits continued use of other money market instruments as appropriate.
ProShares Trust is implementing a reverse share split for its ProShares UltraShort Silver ETF, ticker ZSL. The fund will execute a 1-for-10 reverse split, effective before the market opens on February 26, 2026, when it begins trading at its post-split price.
The ticker will stay the same, but ZSL will receive a new CUSIP number, 74347Y672. Every 10 pre-split shares will convert into 1 post-split share, priced at roughly ten times the prior net asset value per share, so the total value of each shareholder’s investment remains the same.
Shareholders whose holdings are not an exact multiple of 10 will receive cash in place of any fractional shares, which may create taxable gains or losses.
ProShares Trust filed its quarterly report, detailing results for multiple leveraged and inverse exchange-traded funds. Several commodity-focused funds posted very strong gains. ProShares Ultra Silver (AGQ) reported shareholders’ equity of $1,047,679,297 and net income of $635,237,194 for the nine months ended September 30, 2025, with net asset value per share rising to $75.66 from $33.56 at year-end 2024.
ProShares Ultra Gold showed shareholders’ equity of $809,280,918 and nine‑month net income of $333,545,162, with net asset value per share increasing to $45.72 from $23.36. In contrast, volatility- and natural‑gas‑linked funds experienced large losses: ProShares Ultra VIX Short‑Term Futures ETF recorded a nine‑month net loss of $299,713,829, and ProShares Ultra Bloomberg Natural Gas reported a net loss of $46,201,192. Across funds, there were substantial share creations and redemptions, reflecting active investor trading in these strategies.
ProShares Trust II announced reverse share splits for two ETFs. ProShares UltraShort Gold (GLL) will undergo a 1-for-2 reverse split, and ProShares Ultra VIX Short-Term Futures ETF (UVXY) will undergo a 1-for-5 reverse split. Both take effect prior to the market open on November 20, 2025.
Ticker symbols will remain GLL and UVXY. New CUSIPs will be assigned: GLL 74347Y698 and UVXY 74347Y680. Each split raises the price per share with a proportionate decrease in shares outstanding, leaving the value of a shareholder’s investment unchanged at the time of the split. Share quantities not divisible by the split ratio will create fractional shares that will be redeemed for cash, which may result in taxable gains or losses for some shareholders.