HYIN vs. SPLS

Last updated Jun 26, 2026

HYIN (WisdomTree Alternative Income Fund) and SPLS (PIMCO U.S. Stocks PLUS Active Bond ETF) are both Diversified Portfolio funds. HYIN is passively managed, while SPLS is actively managed. A 0.61 correlation means they provide meaningful diversification when combined. HYIN charges 3.20%/yr vs 0.18%/yr for SPLS.

Performance

HYIN vs. SPLS - Performance Comparison

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

Returns By Period

HYIN

• 1D: 0.15%
• 1M: -1.18%
• YTD: -6.68%
• 6M: -6.42%
• 1Y: -6.91%
• 3Y*: 3.83%
• 5Y*: -1.02%
• 10Y*: —

SPLS

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

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

HYIN vs. SPLS - Yearly Performance Comparison

	2026 (YTD)
HYIN WisdomTree Alternative Income Fund	-9.53%
SPLS PIMCO U.S. Stocks PLUS Active Bond ETF	6.52%

Correlation

The correlation between HYIN and SPLS is 0.61, 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 16, 2026	0.61

Return for Risk

HYIN vs. SPLS — Risk / Return Rank

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

HYIN

HYIN Risk / Return Rank: 5
HYIN Sharpe Ratio Rank: 5
HYIN Sortino Ratio Rank: 5
HYIN Omega Ratio Rank: 5
HYIN Calmar Ratio Rank: 6
HYIN Martin Ratio Rank: 5

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.

HYIN vs. SPLS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Alternative Income Fund (HYIN) 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.

	HYIN	SPLS	Difference
Sharpe ratio: Return per unit of total volatility	-0.54	—	—
Sortino ratio: Return per unit of downside risk	-0.68	—	—
Omega ratio: Gain probability vs. loss probability	0.92	—	—
Calmar ratio: Return relative to maximum drawdown	-0.45	—	—
Martin ratio: Return relative to average drawdown	-0.89	—	—

Drawdowns

HYIN vs. SPLS - Drawdown Comparison

The maximum HYIN drawdown since its inception was -31.10%, which is greater than SPLS's maximum drawdown of -9.24%. Use the drawdown chart below to compare losses from any high point for HYIN and SPLS.

Drawdown Indicators

	HYIN	SPLS	Difference
Max Drawdown Largest peak-to-trough decline	-31.10%	-9.24%	-21.86%
Max Drawdown (1Y) Largest decline over 1 year	-15.52%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-15.85%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-31.10%	—	—
Current Drawdown Current decline from peak	-12.42%	-3.25%	-9.17%
Average Drawdown Average peak-to-trough decline	-9.05%	-1.90%	-7.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.81%	—	—

Volatility

Volatility by Period

	HYIN	SPLS	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.28%	—	—
Volatility (6M) Calculated over the trailing 6-month period	10.31%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	12.92%	15.48%	-2.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.77%	15.48%	+1.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.75%	15.48%	+1.27%

HYIN vs. SPLS - Expense Ratio Comparison

HYIN has a 3.20% expense ratio, which is higher than SPLS's 0.18% expense ratio.

Dividends

HYIN vs. SPLS - Dividend Comparison

HYIN's dividend yield for the trailing twelve months is around 13.53%, more than SPLS's 0.22% yield.

Position	TTM	2025	2024	2023	2022	2021
HYIN WisdomTree Alternative Income Fund	13.53%	12.58%	12.59%	11.71%	11.34%	4.13%
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 HYIN and SPLS in my portfolio?

HYIN and SPLS have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HYIN 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, HYIN or SPLS?

SPLS is cheaper with a 0.18% expense ratio, compared with 3.20% for HYIN.

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

HYIN has the higher dividend yield at 13.53%, compared with 0.22% for SPLS.

What is the main difference between HYIN and SPLS?

They also come from different issuers: WisdomTree and PIMCO. Their fees differ too: 3.20% for HYIN and 0.18% for SPLS.