ACIO vs. SPLS

Last updated Jun 24, 2026

ACIO (Aptus Collared Income Opportunity ETF) and SPLS (PIMCO U.S. Stocks PLUS Active Bond ETF) are both Diversified Portfolio funds. Both are actively managed. With a 0.98 correlation, they move nearly in lockstep. ACIO charges 0.79%/yr vs 0.18%/yr for SPLS.

Performance

ACIO vs. SPLS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Aptus Collared Income Opportunity ETF (ACIO) and PIMCO U.S. Stocks PLUS Active Bond ETF (SPLS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

ACIO

• 1D: -0.93%
• 1M: -1.38%
• YTD: 5.06%
• 6M: 4.31%
• 1Y: 13.16%
• 3Y*: 14.88%
• 5Y*: 9.65%
• 10Y*: —

SPLS

• 1D: -1.47%
• 1M: -1.28%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

ACIO vs. SPLS - Yearly Performance Comparison

	2026 (YTD)
ACIO Aptus Collared Income Opportunity ETF	4.27%
SPLS PIMCO U.S. Stocks PLUS Active Bond ETF	6.75%

Correlation

The correlation between ACIO and SPLS is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 16, 2026	0.98

Return for Risk

ACIO vs. SPLS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ACIO

ACIO Risk / Return Rank: 43
ACIO Sharpe Ratio Rank: 45
ACIO Sortino Ratio Rank: 43
ACIO Omega Ratio Rank: 44
ACIO Calmar Ratio Rank: 38
ACIO Martin Ratio Rank: 45

SPLS

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ACIO vs. SPLS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Aptus Collared Income Opportunity ETF (ACIO) and PIMCO U.S. Stocks PLUS Active Bond ETF (SPLS). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	ACIO	SPLS	Difference
Sharpe ratio: Return per unit of total volatility	1.50	—	—
Sortino ratio: Return per unit of downside risk	2.10	—	—
Omega ratio: Gain probability vs. loss probability	1.27	—	—
Calmar ratio: Return relative to maximum drawdown	1.83	—	—
Martin ratio: Return relative to average drawdown	7.11	—	—

Drawdowns

ACIO vs. SPLS - Drawdown Comparison

The maximum ACIO drawdown since its inception was -14.19%, which is greater than SPLS's maximum drawdown of -9.24%. Use the drawdown chart below to compare losses from any high point for ACIO and SPLS.

Drawdown Indicators

	ACIO	SPLS	Difference
Max Drawdown Largest peak-to-trough decline	-14.19%	-9.24%	-4.95%
Max Drawdown (1Y) Largest decline over 1 year	-7.22%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-12.12%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-14.00%	—	—
Current Drawdown Current decline from peak	-2.63%	-3.05%	+0.42%
Average Drawdown Average peak-to-trough decline	-3.17%	-1.87%	-1.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.86%	—	—

Volatility

Volatility by Period

	ACIO	SPLS	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.57%	—	—
Volatility (6M) Calculated over the trailing 6-month period	6.83%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	8.82%	15.61%	-6.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.13%	15.61%	-4.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.67%	15.61%	-3.94%

ACIO vs. SPLS - Expense Ratio Comparison

ACIO has a 0.79% expense ratio, which is higher than SPLS's 0.18% expense ratio.

Dividends

ACIO vs. SPLS - Dividend Comparison

ACIO's dividend yield for the trailing twelve months is around 0.39%, more than SPLS's 0.22% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
ACIO Aptus Collared Income Opportunity ETF	0.39%	0.37%	0.44%	0.72%	1.51%	0.61%	1.02%	1.32%
SPLS PIMCO U.S. Stocks PLUS Active Bond ETF	0.22%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ACIO and SPLS in my portfolio?

With a correlation of 0.98, ACIO and SPLS move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, ACIO or SPLS?

On fees, SPLS is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ACIO or SPLS?

SPLS is cheaper with a 0.18% expense ratio, compared with 0.79% for ACIO.

Which ETF pays a higher dividend yield, ACIO or SPLS?

ACIO has the higher dividend yield at 0.39%, compared with 0.22% for SPLS.

What is the main difference between ACIO and SPLS?

They also come from different issuers: Aptus Capital Advisors and PIMCO. Their fees differ too: 0.79% for ACIO and 0.18% for SPLS.