RPHS vs. SPLS

Last updated Jun 4, 2026

RPHS (Regents Park Hedged Market Strategy 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. RPHS charges 0.75%/yr vs 0.18%/yr for SPLS.

Performance

RPHS vs. SPLS - Performance Comparison

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

Returns By Period

RPHS

• 1D: -0.44%
• 1M: 4.34%
• YTD: 6.79%
• 6M: 6.98%
• 1Y: 19.53%
• 3Y*: 15.26%
• 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)

RPHS vs. SPLS - Yearly Performance Comparison

	2026 (YTD)
RPHS Regents Park Hedged Market Strategy ETF	6.06%
SPLS PIMCO U.S. Stocks PLUS Active Bond ETF	9.37%

Correlation

The correlation between RPHS 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

RPHS vs. SPLS — Risk / Return Rank

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

RPHS

RPHS Risk / Return Rank: 55
RPHS Sharpe Ratio Rank: 56
RPHS Sortino Ratio Rank: 56
RPHS Omega Ratio Rank: 55
RPHS Calmar Ratio Rank: 51
RPHS Martin Ratio Rank: 58

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.

RPHS vs. SPLS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Regents Park Hedged Market Strategy ETF (RPHS) 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.

	RPHS	SPLS	Difference
Sharpe ratio: Return per unit of total volatility	1.87	—	—
Sortino ratio: Return per unit of downside risk	2.65	—	—
Omega ratio: Gain probability vs. loss probability	1.33	—	—
Calmar ratio: Return relative to maximum drawdown	2.51	—	—
Martin ratio: Return relative to average drawdown	10.09	—	—
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

	RPHS	SPLS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.87	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.65	1.82	-1.16

Drawdowns

RPHS vs. SPLS - Drawdown Comparison

The maximum RPHS drawdown since its inception was -15.77%, which is greater than SPLS's maximum drawdown of -9.24%. Use the drawdown chart below to compare losses from any high point for RPHS and SPLS.

Drawdown Indicators

	RPHS	SPLS	Difference
Max Drawdown Largest peak-to-trough decline	-15.77%	-9.24%	-6.53%
Max Drawdown (1Y) Largest decline over 1 year	-7.81%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-10.84%	—	—
Current Drawdown Current decline from peak	-0.44%	-0.65%	+0.21%
Average Drawdown Average peak-to-trough decline	-5.97%	-1.85%	-4.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.94%	—	—

Volatility

Volatility by Period

	RPHS	SPLS	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.55%	—	—
Volatility (6M) Calculated over the trailing 6-month period	7.32%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	10.48%	15.02%	-4.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.37%	15.02%	-3.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.37%	15.02%	-3.65%

RPHS vs. SPLS - Expense Ratio Comparison

RPHS has a 0.75% expense ratio, which is higher than SPLS's 0.18% expense ratio.

Dividends

RPHS vs. SPLS - Dividend Comparison

RPHS's dividend yield for the trailing twelve months is around 10.42%, more than SPLS's 0.22% yield.

Position	TTM	2025	2024	2023	2022
RPHS Regents Park Hedged Market Strategy ETF	10.42%	11.13%	3.68%	5.23%	1.29%
SPLS PIMCO U.S. Stocks PLUS Active Bond ETF	0.22%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both RPHS and SPLS in my portfolio?

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

SPLS is cheaper with a 0.18% expense ratio, compared with 0.75% for RPHS.

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

RPHS has the higher dividend yield at 10.42%, compared with 0.22% for SPLS.

What is the main difference between RPHS and SPLS?

They also come from different issuers: Regents Park and PIMCO. Their fees differ too: 0.75% for RPHS and 0.18% for SPLS.