In our previous article, Agriculture ETF-List of Agriculture ETF, we'd covered the list of all available Agriculture ETF (or better to say LONG Agriculture ETF). Continuing further on the series of Agriculture ETF's, here in this article, we will cover the Leveraged Agriculture ETF & SHORT Agriculture ETF

Leveraged Agriculture ETF

What are the Leveraged Agriculture ETF?
Generally, most of the ETF's are LONG in nature i.e., they attempt to exactly track the underlying index in the same percentage changes. For e.g., if the underlying Agriculture index goes up by 1.5%, then the LONG Agriculture ETF will also go up by around 1.5%. There are however other ETF's called the Leveraged Agriculture ETF, which track the performance of the underlying index in a multiple. So say if there is a Double Long Agriculture ETF which claims to genrate twice the returns of the underlying index, then for e.g., if the underlying Agriculture index goes up by 1.5%, then this Double Long Agriculture ETF will go up by around 3%, i.e. by double the % change.
Such ETF's which track the performance of the underlying in multiples, are called Leveraged ETF. Below is the List of Long Leveraged Agriculture ETF:

PowerShares DB Agriculture Double Long ETN DAG:
Trading on NYSE, this is based upon the Deutsche Bank Liquid Commodity Index — Optimum Yield Agriculture, which is composed of corn, wheat, soybean and sugar futures contracts.

Short Leveraged Agriculture ETF

What are the Short Agriculture ETF?
Short Agriculture ETF are those which generate the returns in the reverse direction of the performance of the underlying Agriculture index. i.e. if the underlying index is going up by 1.5%, then the short Agriculture ETF will go down by 1.5% i.e. it's returns will be -1.5%.
Then there are Short Leveraged Agriculture ETF's which generate returns in the oppposite direction of the underlying index, but with a multiple. So for e.g., a double short Agriculture ETF will generate a return of -3%, if the underlying index goes up by +1.5%. Here is the list of Short Agriculture ETF:

PowerShares DB Agriculture Double Short ETN AGA:
This is a double short agriculture etf, meaning that it will generate reverse returns of the underlying index but with double the multiple of the return.
Such leveraged short etf's are good for the purpose of hedging.

PowerShares DB Agriculture Short ETN ADZ:
This is a pure SHORT Agriculture ETF, i.e., its returns will be same in value but opposite in direction of the underlying.
Here is a comparative chart of the performance of the above mentioned 3 Agriculture ETF's for this year (Sourced as a screenshot from Google Finance). Click on the image to see a bigger chart:

All the above mentioned ETF's are from Invesco Powershares and are trading on NYSE. The expense ratio is high, around 0.75%, but agriculture is a unique sector for investment.