FDAT vs. SPLS

Last updated Jun 4, 2026

FDAT (Tactical Advantage ETF) and SPLS (PIMCO U.S. Stocks PLUS Active Bond ETF) are both Diversified Portfolio funds. Both are actively managed. A 0.79 correlation means they provide meaningful diversification when combined. FDAT charges 0.74%/yr vs 0.18%/yr for SPLS.

Performance

FDAT vs. SPLS - Performance Comparison

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

Returns By Period

FDAT

• 1D: -0.27%
• 1M: 1.24%
• YTD: 3.20%
• 6M: 3.66%
• 1Y: 11.57%
• 3Y*: 9.02%
• 5Y*: —
• 10Y*: —

SPLS

• 1D: -0.65%
• 1M: 5.18%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FDAT vs. SPLS - Yearly Performance Comparison

	2026 (YTD)
FDAT Tactical Advantage ETF	-0.78%
SPLS PIMCO U.S. Stocks PLUS Active Bond ETF	9.37%

Correlation

The correlation between FDAT and SPLS is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 20, 2026	0.79

Return for Risk

FDAT vs. SPLS — Risk / Return Rank

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

FDAT

FDAT Risk / Return Rank: 35
FDAT Sharpe Ratio Rank: 33
FDAT Sortino Ratio Rank: 32
FDAT Omega Ratio Rank: 32
FDAT Calmar Ratio Rank: 40
FDAT Martin Ratio Rank: 37

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.

FDAT vs. SPLS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tactical Advantage ETF (FDAT) 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.

	FDAT	SPLS	Difference
Sharpe ratio: Return per unit of total volatility	1.18	—	—
Sortino ratio: Return per unit of downside risk	1.69	—	—
Omega ratio: Gain probability vs. loss probability	1.21	—	—
Calmar ratio: Return relative to maximum drawdown	1.97	—	—
Martin ratio: Return relative to average drawdown	5.59	—	—
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

	FDAT	SPLS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.18	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.92	1.82	-0.90

Drawdowns

FDAT vs. SPLS - Drawdown Comparison

The maximum FDAT drawdown since its inception was -8.20%, smaller than the maximum SPLS drawdown of -9.24%. Use the drawdown chart below to compare losses from any high point for FDAT and SPLS.

Drawdown Indicators

	FDAT	SPLS	Difference
Max Drawdown Largest peak-to-trough decline	-8.20%	-9.24%	+1.04%
Max Drawdown (1Y) Largest decline over 1 year	-5.88%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-8.20%	—	—
Current Drawdown Current decline from peak	-2.27%	-0.65%	-1.62%
Average Drawdown Average peak-to-trough decline	-2.25%	-1.85%	-0.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.07%	—	—

Volatility

Volatility by Period

	FDAT	SPLS	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.31%	—	—
Volatility (6M) Calculated over the trailing 6-month period	6.91%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	9.89%	15.02%	-5.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.47%	15.02%	-5.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.47%	15.02%	-5.55%

FDAT vs. SPLS - Expense Ratio Comparison

FDAT has a 0.74% expense ratio, which is higher than SPLS's 0.18% expense ratio.

Dividends

FDAT vs. SPLS - Dividend Comparison

FDAT's dividend yield for the trailing twelve months is around 5.64%, more than SPLS's 0.22% yield.

Position	TTM	2025	2024	2023
FDAT Tactical Advantage ETF	5.64%	4.77%	8.99%	1.58%
SPLS PIMCO U.S. Stocks PLUS Active Bond ETF	0.22%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FDAT and SPLS in my portfolio?

FDAT and SPLS have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FDAT 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, FDAT or SPLS?

SPLS is cheaper with a 0.18% expense ratio, compared with 0.74% for FDAT.

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

FDAT has the higher dividend yield at 5.64%, compared with 0.22% for SPLS.

What is the main difference between FDAT and SPLS?

They also come from different issuers: Tactical Funds and PIMCO. Their fees differ too: 0.74% for FDAT and 0.18% for SPLS.