CGBL vs. SPLS

Last updated Jun 5, 2026

CGBL (Capital Group Core Balanced ETF) and SPLS (PIMCO U.S. Stocks PLUS Active Bond ETF) are both Diversified Portfolio funds. Both are actively managed. Their correlation of 0.94 suggests significant overlap in exposure. CGBL charges 0.33%/yr vs 0.18%/yr for SPLS.

Performance

CGBL vs. SPLS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Capital Group Core Balanced ETF (CGBL) and PIMCO U.S. Stocks PLUS Active Bond ETF (SPLS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

CGBL

• 1D: 0.08%
• 1M: 3.05%
• YTD: 7.54%
• 6M: 8.49%
• 1Y: 18.31%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SPLS

• 1D: 0.35%
• 1M: 4.63%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CGBL vs. SPLS - Yearly Performance Comparison

	2026 (YTD)
CGBL Capital Group Core Balanced ETF	4.69%
SPLS PIMCO U.S. Stocks PLUS Active Bond ETF	9.75%

Correlation

The correlation between CGBL and SPLS is 0.94, 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 20, 2026	0.94

Return for Risk

CGBL vs. SPLS — Risk / Return Rank

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

CGBL

CGBL Risk / Return Rank: 57
CGBL Sharpe Ratio Rank: 58
CGBL Sortino Ratio Rank: 60
CGBL Omega Ratio Rank: 58
CGBL Calmar Ratio Rank: 48
CGBL Martin Ratio Rank: 59

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.

CGBL vs. SPLS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Capital Group Core Balanced ETF (CGBL) 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.

	CGBL	SPLS	Difference
Sharpe ratio: Return per unit of total volatility	1.92	—	—
Sortino ratio: Return per unit of downside risk	2.78	—	—
Omega ratio: Gain probability vs. loss probability	1.35	—	—
Calmar ratio: Return relative to maximum drawdown	2.33	—	—
Martin ratio: Return relative to average drawdown	10.36	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	CGBL	SPLS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.92	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.72	1.88	-0.16

Drawdowns

CGBL vs. SPLS - Drawdown Comparison

The maximum CGBL drawdown since its inception was -11.66%, which is greater than SPLS's maximum drawdown of -9.24%. Use the drawdown chart below to compare losses from any high point for CGBL and SPLS.

Drawdown Indicators

	CGBL	SPLS	Difference
Max Drawdown Largest peak-to-trough decline	-11.66%	-9.24%	-2.42%
Max Drawdown (1Y) Largest decline over 1 year	-7.88%	—	—
Current Drawdown Current decline from peak	-0.53%	-0.31%	-0.22%
Average Drawdown Average peak-to-trough decline	-1.29%	-1.84%	+0.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.77%	—	—

Volatility

Volatility by Period

	CGBL	SPLS	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.10%	—	—
Volatility (6M) Calculated over the trailing 6-month period	7.84%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	9.60%	14.94%	-5.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.02%	14.94%	-3.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.02%	14.94%	-3.92%

CGBL vs. SPLS - Expense Ratio Comparison

CGBL has a 0.33% expense ratio, which is higher than SPLS's 0.18% expense ratio.

Dividends

CGBL vs. SPLS - Dividend Comparison

CGBL's dividend yield for the trailing twelve months is around 1.85%, more than SPLS's 0.22% yield.

Position	TTM	2025	2024	2023
CGBL Capital Group Core Balanced ETF	1.85%	1.98%	1.92%	0.48%
SPLS PIMCO U.S. Stocks PLUS Active Bond ETF	0.22%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CGBL and SPLS in my portfolio?

With a correlation of 0.94, CGBL 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, CGBL 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, CGBL or SPLS?

SPLS is cheaper with a 0.18% expense ratio, compared with 0.33% for CGBL.

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

CGBL has the higher dividend yield at 1.85%, compared with 0.22% for SPLS.

What is the main difference between CGBL and SPLS?

They also come from different issuers: Capital Group and PIMCO. Their fees differ too: 0.33% for CGBL and 0.18% for SPLS.