SPLS vs. DDX

Last updated Jun 5, 2026

SPLS (PIMCO U.S. Stocks PLUS Active Bond ETF) and DDX (Defined Duration 10 ETF) are both Diversified Portfolio funds. Both are actively managed. Their correlation of 0.85 suggests significant overlap in exposure. SPLS charges 0.18%/yr vs 0.25%/yr for DDX.

Performance

SPLS vs. DDX - 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 Defined Duration 10 ETF (DDX). 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*: —

DDX

• 1D: 0.07%
• 1M: 1.48%
• YTD: 4.93%
• 6M: 5.53%
• 1Y: 12.38%
• 3Y*: 8.29%
• 5Y*: —
• 10Y*: —

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

SPLS vs. DDX - Yearly Performance Comparison

	2026 (YTD)
SPLS PIMCO U.S. Stocks PLUS Active Bond ETF	9.75%
DDX Defined Duration 10 ETF	3.65%

Correlation

The correlation between SPLS and DDX is 0.85, 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	0.85

Return for Risk

SPLS vs. DDX — Risk / Return Rank

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

DDX

DDX Risk / Return Rank: 69
DDX Sharpe Ratio Rank: 71
DDX Sortino Ratio Rank: 77
DDX Omega Ratio Rank: 74
DDX Calmar Ratio Rank: 57
DDX Martin Ratio Rank: 63

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. DDX - 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 Defined Duration 10 ETF (DDX). 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	DDX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.28	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.88	0.37	+1.52

Drawdowns

SPLS vs. DDX - Drawdown Comparison

The maximum SPLS drawdown since its inception was -9.24%, smaller than the maximum DDX drawdown of -21.27%. Use the drawdown chart below to compare losses from any high point for SPLS and DDX.

Drawdown Indicators

	SPLS	DDX	Difference
Max Drawdown Largest peak-to-trough decline	-9.24%	-21.27%	+12.03%
Max Drawdown (1Y) Largest decline over 1 year	—	-4.41%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-6.17%	—
Current Drawdown Current decline from peak	-0.31%	-0.17%	-0.14%
Average Drawdown Average peak-to-trough decline	-1.84%	-7.12%	+5.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.09%	—

Volatility

Volatility by Period

	SPLS	DDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.96%	—
Volatility (6M) Calculated over the trailing 6-month period	—	4.46%	—
Volatility (1Y) Calculated over the trailing 1-year period	14.94%	5.47%	+9.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.94%	7.48%	+7.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.94%	7.48%	+7.46%

SPLS vs. DDX - Expense Ratio Comparison

SPLS has a 0.18% expense ratio, which is lower than DDX's 0.25% 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. DDX - Dividend Comparison

SPLS's dividend yield for the trailing twelve months is around 0.22%, less than DDX's 3.39% yield.

Position	TTM	2025	2024	2023	2022	2021
DDX Defined Duration 10 ETF	3.39%	3.17%	3.11%	2.41%	1.38%	1.14%
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 SPLS and DDX in my portfolio?

SPLS and DDX have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SPLS or DDX?

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 DDX?

SPLS is cheaper with a 0.18% expense ratio, compared with 0.25% for DDX.

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

DDX has the higher dividend yield at 3.39%, compared with 0.22% for SPLS.

What is the main difference between SPLS and DDX?

They also come from different issuers: PIMCO and Discipline Funds. Their fees differ too: 0.18% for SPLS and 0.25% for DDX.