SPLS vs. AVMA

Last updated Jun 24, 2026

SPLS (PIMCO U.S. Stocks PLUS Active Bond ETF) and AVMA (Avantis Moderate Allocation ETF) are both Diversified Portfolio funds. Both are actively managed. Their correlation of 0.91 suggests significant overlap in exposure. SPLS charges 0.18%/yr vs 0.21%/yr for AVMA.

Performance

SPLS vs. AVMA - 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 Avantis Moderate Allocation ETF (AVMA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

SPLS

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

AVMA

• 1D: -0.99%
• 1M: 0.64%
• YTD: 10.12%
• 6M: 9.66%
• 1Y: 22.59%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SPLS vs. AVMA - Yearly Performance Comparison

	2026 (YTD)
SPLS PIMCO U.S. Stocks PLUS Active Bond ETF	6.75%
AVMA Avantis Moderate Allocation ETF	7.18%

Correlation

The correlation between SPLS and AVMA is 0.91, 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	0.91

Return for Risk

SPLS vs. AVMA — Risk / Return Rank

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

SPLS

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

AVMA

AVMA Risk / Return Rank: 79
AVMA Sharpe Ratio Rank: 80
AVMA Sortino Ratio Rank: 83
AVMA Omega Ratio Rank: 81
AVMA Calmar Ratio Rank: 74
AVMA Martin Ratio Rank: 80

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. AVMA - 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 Avantis Moderate Allocation ETF (AVMA). 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.

	SPLS	AVMA	Difference
Sharpe ratio: Return per unit of total volatility	—	2.41	—
Sortino ratio: Return per unit of downside risk	—	3.44	—
Omega ratio: Gain probability vs. loss probability	—	1.45	—
Calmar ratio: Return relative to maximum drawdown	—	3.54	—
Martin ratio: Return relative to average drawdown	—	14.86	—

Drawdowns

SPLS vs. AVMA - Drawdown Comparison

The maximum SPLS drawdown since its inception was -9.24%, smaller than the maximum AVMA drawdown of -11.81%. Use the drawdown chart below to compare losses from any high point for SPLS and AVMA.

Drawdown Indicators

	SPLS	AVMA	Difference
Max Drawdown Largest peak-to-trough decline	-9.24%	-11.81%	+2.57%
Max Drawdown (1Y) Largest decline over 1 year	—	-6.40%	—
Current Drawdown Current decline from peak	-3.05%	-1.21%	-1.84%
Average Drawdown Average peak-to-trough decline	-1.87%	-1.54%	-0.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.52%	—

Volatility

Volatility by Period

	SPLS	AVMA	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.43%	—
Volatility (6M) Calculated over the trailing 6-month period	—	7.61%	—
Volatility (1Y) Calculated over the trailing 1-year period	15.61%	9.41%	+6.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.61%	10.36%	+5.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.61%	10.36%	+5.25%

SPLS vs. AVMA - Expense Ratio Comparison

SPLS has a 0.18% expense ratio, which is lower than AVMA's 0.21% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

SPLS vs. AVMA - Dividend Comparison

SPLS's dividend yield for the trailing twelve months is around 0.22%, less than AVMA's 3.03% yield.

Position	TTM	2025	2024	2023
AVMA Avantis Moderate Allocation ETF	3.03%	2.21%	2.28%	1.11%
SPLS PIMCO U.S. Stocks PLUS Active Bond ETF	0.22%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SPLS and AVMA in my portfolio?

With a correlation of 0.91, SPLS and AVMA 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 AVMA?

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 AVMA?

SPLS is cheaper with a 0.18% expense ratio, compared with 0.21% for AVMA.

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

AVMA has the higher dividend yield at 3.03%, compared with 0.22% for SPLS.

What is the main difference between SPLS and AVMA?

They also come from different issuers: PIMCO and Avantis. Their fees differ too: 0.18% for SPLS and 0.21% for AVMA.