SPLS vs. ACIO

Last updated Jun 5, 2026

SPLS (PIMCO U.S. Stocks PLUS Active Bond ETF) and ACIO (Aptus Collared Income Opportunity ETF) are both Diversified Portfolio funds. Both are actively managed. With a 0.97 correlation, they move nearly in lockstep. SPLS charges 0.18%/yr vs 0.79%/yr for ACIO.

Performance

SPLS vs. ACIO - Performance Comparison

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

Returns By Period

SPLS

• 1D: 0.35%
• 1M: 4.63%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

ACIO

• 1D: 0.34%
• 1M: 3.44%
• YTD: 7.58%
• 6M: 6.54%
• 1Y: 16.28%
• 3Y*: 16.07%
• 5Y*: 10.25%
• 10Y*: —

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

SPLS vs. ACIO - Yearly Performance Comparison

	2026 (YTD)
SPLS PIMCO U.S. Stocks PLUS Active Bond ETF	9.75%
ACIO Aptus Collared Income Opportunity ETF	6.78%

Correlation

The correlation between SPLS and ACIO is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 20, 2026	0.98

Return for Risk

SPLS vs. ACIO — Risk / Return Rank

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

ACIO

ACIO Risk / Return Rank: 56
ACIO Sharpe Ratio Rank: 59
ACIO Sortino Ratio Rank: 61
ACIO Omega Ratio Rank: 60
ACIO Calmar Ratio Rank: 47
ACIO Martin Ratio Rank: 54

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.

SPLS vs. ACIO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO U.S. Stocks PLUS Active Bond ETF (SPLS) and Aptus Collared Income Opportunity ETF (ACIO). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	SPLS	ACIO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.98	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.93	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.88	0.90	+0.98

Drawdowns

SPLS vs. ACIO - Drawdown Comparison

The maximum SPLS drawdown since its inception was -9.24%, smaller than the maximum ACIO drawdown of -14.19%. Use the drawdown chart below to compare losses from any high point for SPLS and ACIO.

Drawdown Indicators

	SPLS	ACIO	Difference
Max Drawdown Largest peak-to-trough decline	-9.24%	-14.19%	+4.95%
Max Drawdown (1Y) Largest decline over 1 year	—	-7.22%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-12.12%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-14.00%	—
Current Drawdown Current decline from peak	-0.31%	-0.30%	-0.01%
Average Drawdown Average peak-to-trough decline	-1.84%	-3.18%	+1.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.80%	—

Volatility

Volatility by Period

	SPLS	ACIO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.17%	—
Volatility (6M) Calculated over the trailing 6-month period	—	6.14%	—
Volatility (1Y) Calculated over the trailing 1-year period	14.94%	8.26%	+6.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.94%	11.05%	+3.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.94%	11.64%	+3.30%

SPLS vs. ACIO - Expense Ratio Comparison

SPLS has a 0.18% expense ratio, which is lower than ACIO's 0.79% expense ratio.

Dividends

SPLS vs. ACIO - Dividend Comparison

SPLS's dividend yield for the trailing twelve months is around 0.22%, less than ACIO's 0.38% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
ACIO Aptus Collared Income Opportunity ETF	0.38%	0.37%	0.44%	0.72%	1.51%	0.61%	1.02%	1.32%
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%

Frequently Asked Questions

Can I hold both SPLS and ACIO in my portfolio?

With a correlation of 0.97, SPLS and ACIO 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, SPLS or ACIO?

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, SPLS or ACIO?

SPLS is cheaper with a 0.18% expense ratio, compared with 0.79% for ACIO.

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

ACIO has the higher dividend yield at 0.38%, compared with 0.22% for SPLS.

What is the main difference between SPLS and ACIO?

They also come from different issuers: PIMCO and Aptus Capital Advisors. Their fees differ too: 0.18% for SPLS and 0.79% for ACIO.