DDX vs. SPLS

Last updated Jun 26, 2026

DDX (Defined Duration 10 ETF) and SPLS (PIMCO U.S. Stocks PLUS Active Bond ETF) are both Diversified Portfolio funds. Both are actively managed. Their correlation of 0.83 suggests significant overlap in exposure. DDX charges 0.25%/yr vs 0.18%/yr for SPLS.

Performance

DDX vs. SPLS - Performance Comparison

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

Returns By Period

DDX

• 1D: 0.26%
• 1M: 0.65%
• YTD: 5.26%
• 6M: 5.08%
• 1Y: 11.80%
• 3Y*: 8.26%
• 5Y*: —
• 10Y*: —

SPLS

• 1D: 0.03%
• 1M: -2.13%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DDX vs. SPLS - Yearly Performance Comparison

	2026 (YTD)
DDX Defined Duration 10 ETF	3.80%
SPLS PIMCO U.S. Stocks PLUS Active Bond ETF	6.52%

Correlation

The correlation between DDX and SPLS is 0.83, 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	0.83

Return for Risk

DDX vs. SPLS — Risk / Return Rank

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

DDX

DDX Risk / Return Rank: 72
DDX Sharpe Ratio Rank: 75
DDX Sortino Ratio Rank: 79
DDX Omega Ratio Rank: 77
DDX Calmar Ratio Rank: 62
DDX Martin Ratio Rank: 67

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.

DDX vs. SPLS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defined Duration 10 ETF (DDX) 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.

	DDX	SPLS	Difference
Sharpe ratio: Return per unit of total volatility	2.10	—	—
Sortino ratio: Return per unit of downside risk	3.06	—	—
Omega ratio: Gain probability vs. loss probability	1.40	—	—
Calmar ratio: Return relative to maximum drawdown	2.69	—	—
Martin ratio: Return relative to average drawdown	10.71	—	—

Drawdowns

DDX vs. SPLS - Drawdown Comparison

The maximum DDX drawdown since its inception was -21.27%, which is greater than SPLS's maximum drawdown of -9.24%. Use the drawdown chart below to compare losses from any high point for DDX and SPLS.

Drawdown Indicators

	DDX	SPLS	Difference
Max Drawdown Largest peak-to-trough decline	-21.27%	-9.24%	-12.03%
Max Drawdown (1Y) Largest decline over 1 year	-4.41%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-6.17%	—	—
Current Drawdown Current decline from peak	-0.37%	-3.25%	+2.88%
Average Drawdown Average peak-to-trough decline	-7.03%	-1.90%	-5.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.10%	—	—

Volatility

Volatility by Period

	DDX	SPLS	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.93%	—	—
Volatility (6M) Calculated over the trailing 6-month period	4.75%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	5.65%	15.48%	-9.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.48%	15.48%	-8.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.48%	15.48%	-8.00%

DDX vs. SPLS - Expense Ratio Comparison

DDX has a 0.25% expense ratio, which is higher than SPLS's 0.18% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

DDX vs. SPLS - Dividend Comparison

DDX's dividend yield for the trailing twelve months is around 3.38%, more than SPLS's 0.22% yield.

Position	TTM	2025	2024	2023	2022	2021
DDX Defined Duration 10 ETF	3.38%	3.17%	3.11%	2.41%	1.38%	1.14%
SPLS PIMCO U.S. Stocks PLUS Active Bond ETF	0.22%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DDX and SPLS in my portfolio?

DDX and SPLS have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DDX 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, DDX or SPLS?

SPLS is cheaper with a 0.18% expense ratio, compared with 0.25% for DDX.

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

DDX has the higher dividend yield at 3.38%, compared with 0.22% for SPLS.

What is the main difference between DDX and SPLS?

They also come from different issuers: Discipline Funds and PIMCO. Their fees differ too: 0.25% for DDX and 0.18% for SPLS.