ProShares Ultra Silver(AMEX:AGQ)

AGQ is a 2x leveraged single-day bet on the spot price of silver, as measured by the price of COMEX silver futures contracts. Instead of utilizing swaps like most geared funds, AGQ invests in silver futures and forward contracts, which means that the fund is structured as a commodities pool, thus it will distribute a K-1 form. Contracts follow a fixed schedule, the index rolls into contracts two months from maturity in February, April, and June, and three months from maturity in August and November. The index continues tracking each contract until shortly before expiration. AGQ is not a buy-and-hold ETF and holding cost is less important, considering the fund is designed to be held for very short periods.