AOK vs. SPLS

Last updated Jun 24, 2026

AOK (iShares Core 30/70 Conservative Allocation ETF) and SPLS (PIMCO U.S. Stocks PLUS Active Bond ETF) are both Diversified Portfolio funds. AOK is passively managed, while SPLS is actively managed. Their correlation of 0.91 suggests significant overlap in exposure. AOK charges 0.15%/yr vs 0.18%/yr for SPLS.

Performance

AOK vs. SPLS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Core 30/70 Conservative Allocation ETF (AOK) and PIMCO U.S. Stocks PLUS Active Bond ETF (SPLS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

AOK

• 1D: -0.58%
• 1M: 0.30%
• YTD: 3.83%
• 6M: 3.39%
• 1Y: 11.04%
• 3Y*: 9.03%
• 5Y*: 3.59%
• 10Y*: 5.20%

SPLS

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

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

AOK vs. SPLS - Yearly Performance Comparison

	2026 (YTD)
AOK iShares Core 30/70 Conservative Allocation ETF	2.38%
SPLS PIMCO U.S. Stocks PLUS Active Bond ETF	6.75%

Correlation

The correlation between AOK and SPLS is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 16, 2026	0.91

Return for Risk

AOK vs. SPLS — Risk / Return Rank

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

AOK

AOK Risk / Return Rank: 57
AOK Sharpe Ratio Rank: 57
AOK Sortino Ratio Rank: 58
AOK Omega Ratio Rank: 60
AOK Calmar Ratio Rank: 52
AOK Martin Ratio Rank: 61

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.

AOK vs. SPLS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core 30/70 Conservative Allocation ETF (AOK) 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.

	AOK	SPLS	Difference
Sharpe ratio: Return per unit of total volatility	1.84	—	—
Sortino ratio: Return per unit of downside risk	2.64	—	—
Omega ratio: Gain probability vs. loss probability	1.35	—	—
Calmar ratio: Return relative to maximum drawdown	2.46	—	—
Martin ratio: Return relative to average drawdown	10.37	—	—

Drawdowns

AOK vs. SPLS - Drawdown Comparison

The maximum AOK drawdown since its inception was -18.94%, which is greater than SPLS's maximum drawdown of -9.24%. Use the drawdown chart below to compare losses from any high point for AOK and SPLS.

Drawdown Indicators

	AOK	SPLS	Difference
Max Drawdown Largest peak-to-trough decline	-18.94%	-9.24%	-9.70%
Max Drawdown (1Y) Largest decline over 1 year	-4.50%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-6.37%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-18.94%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-18.94%	—	—
Current Drawdown Current decline from peak	-0.82%	-3.05%	+2.23%
Average Drawdown Average peak-to-trough decline	-2.36%	-1.87%	-0.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.07%	—	—

Volatility

Volatility by Period

	AOK	SPLS	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.25%	—	—
Volatility (6M) Calculated over the trailing 6-month period	4.85%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	6.01%	15.61%	-9.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.15%	15.61%	-8.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.72%	15.61%	-8.89%

AOK vs. SPLS - Expense Ratio Comparison

AOK has a 0.15% expense ratio, which is lower than SPLS's 0.18% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

AOK vs. SPLS - Dividend Comparison

AOK's dividend yield for the trailing twelve months is around 3.29%, more than SPLS's 0.22% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AOK iShares Core 30/70 Conservative Allocation ETF	3.29%	3.28%	3.23%	2.93%	2.25%	1.55%	2.10%	2.71%	2.68%	2.91%	2.14%	2.02%
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%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both AOK and SPLS in my portfolio?

With a correlation of 0.91, AOK 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, AOK or SPLS?

On fees, AOK is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, AOK or SPLS?

AOK is cheaper with a 0.15% expense ratio, compared with 0.18% for SPLS.

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

AOK has the higher dividend yield at 3.29%, compared with 0.22% for SPLS.

What is the main difference between AOK and SPLS?

They also come from different issuers: iShares and PIMCO. Their fees differ too: 0.15% for AOK and 0.18% for SPLS.