GAL vs. SPLS

Last updated Jun 24, 2026

GAL (SPDR SSgA Global Allocation 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. GAL charges 0.35%/yr vs 0.18%/yr for SPLS.

Performance

GAL vs. SPLS - Performance Comparison

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

Returns By Period

GAL

• 1D: -1.50%
• 1M: -0.51%
• YTD: 7.11%
• 6M: 6.63%
• 1Y: 17.25%
• 3Y*: 13.27%
• 5Y*: 6.68%
• 10Y*: 8.25%

SPLS

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

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

GAL vs. SPLS - Yearly Performance Comparison

	2026 (YTD)
GAL SPDR SSgA Global Allocation ETF	4.76%
SPLS PIMCO U.S. Stocks PLUS Active Bond ETF	6.75%

Correlation

The correlation between GAL 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 16, 2026	0.94

Return for Risk

GAL vs. SPLS — Risk / Return Rank

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

GAL

GAL Risk / Return Rank: 61
GAL Sharpe Ratio Rank: 59
GAL Sortino Ratio Rank: 58
GAL Omega Ratio Rank: 61
GAL Calmar Ratio Rank: 60
GAL Martin Ratio Rank: 66

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.

GAL vs. SPLS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR SSgA Global Allocation ETF (GAL) 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.

	GAL	SPLS	Difference
Sharpe ratio: Return per unit of total volatility	1.86	—	—
Sortino ratio: Return per unit of downside risk	2.60	—	—
Omega ratio: Gain probability vs. loss probability	1.35	—	—
Calmar ratio: Return relative to maximum drawdown	2.76	—	—
Martin ratio: Return relative to average drawdown	11.45	—	—

Drawdowns

GAL vs. SPLS - Drawdown Comparison

The maximum GAL drawdown since its inception was -28.31%, which is greater than SPLS's maximum drawdown of -9.24%. Use the drawdown chart below to compare losses from any high point for GAL and SPLS.

Drawdown Indicators

	GAL	SPLS	Difference
Max Drawdown Largest peak-to-trough decline	-28.31%	-9.24%	-19.07%
Max Drawdown (1Y) Largest decline over 1 year	-6.27%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-9.12%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-21.14%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-28.31%	—	—
Current Drawdown Current decline from peak	-2.04%	-3.05%	+1.01%
Average Drawdown Average peak-to-trough decline	-3.73%	-1.87%	-1.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.51%	—	—

Volatility

Volatility by Period

	GAL	SPLS	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.74%	—	—
Volatility (6M) Calculated over the trailing 6-month period	7.70%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	9.33%	15.61%	-6.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.52%	15.61%	-5.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.39%	15.61%	-4.22%

GAL vs. SPLS - Expense Ratio Comparison

GAL has a 0.35% expense ratio, which is higher than SPLS's 0.18% expense ratio.

Dividends

GAL vs. SPLS - Dividend Comparison

GAL's dividend yield for the trailing twelve months is around 3.17%, more than SPLS's 0.22% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GAL SPDR SSgA Global Allocation ETF	3.17%	3.47%	2.99%	2.56%	6.19%	4.05%	2.14%	2.96%	2.43%	2.26%	2.43%	3.10%
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 GAL and SPLS in my portfolio?

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

SPLS is cheaper with a 0.18% expense ratio, compared with 0.35% for GAL.

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

GAL has the higher dividend yield at 3.17%, compared with 0.22% for SPLS.

What is the main difference between GAL and SPLS?

They also come from different issuers: State Street and PIMCO. Their fees differ too: 0.35% for GAL and 0.18% for SPLS.