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SPLS vs. RAAX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SPLS vs. RAAX

Last updated Jun 5, 2026

SPLS (PIMCO U.S. Stocks PLUS Active Bond ETF) and RAAX (VanEck Inflation Allocation ETF) are both Diversified Portfolio funds. Both are actively managed. At a 0.22 correlation, their price movements are largely independent. SPLS charges 0.18%/yr vs 0.78%/yr for RAAX.

Performance

SPLS vs. RAAX - 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 VanEck Inflation Allocation ETF (RAAX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

SPLS

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

RAAX

1D
-0.24%
1M
-2.01%
YTD
18.87%
6M
18.93%
1Y
36.89%
3Y*
22.07%
5Y*
13.48%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

SPLS vs. RAAX - Yearly Performance Comparison

2026 (YTD)
SPLS
PIMCO U.S. Stocks PLUS Active Bond ETF		9.75%
RAAX
VanEck Inflation Allocation ETF		11.49%

Correlation

The correlation between SPLS and RAAX is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.22

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

PIMCO U.S. Stocks PLUS Active Bond ETF

VanEck Inflation Allocation ETF

Often compared with SPLS:
SPLS vs. LCOSPLS vs. BAMASPLS vs. INCMSPLS vs. MVFDSPLS vs. RULESPLS vs. THRVSPLS vs. FDAT
Often compared with RAAX:
RAAX vs. RLYRAAX vs. LCRRAAX vs. INFLRAAX vs. AOKRAAX vs. XLRERAAX vs. SPYRAAX vs. QUAL

Return for Risk

SPLS vs. RAAX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SPLS
RAAX
RAAX Risk / Return Rank: 8686
Overall Rank
RAAX Sharpe Ratio Rank: 8484
Sharpe Ratio Rank
RAAX Sortino Ratio Rank: 8080
Sortino Ratio Rank
RAAX Omega Ratio Rank: 8383
Omega Ratio Rank
RAAX Calmar Ratio Rank: 9090
Calmar Ratio Rank
RAAX Martin Ratio Rank: 9090
Martin Ratio Rank
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. RAAX - 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 VanEck Inflation Allocation ETF (RAAX). 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.

SPLS vs. RAAX - Sharpe Ratio Comparison

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Sharpe Ratios by Period

SPLSRAAXDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

—

2.73

—

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

0.87

—

Sharpe Ratio (All Time)

Calculated using the full available price history

1.88

0.62

+1.27

Drawdowns

SPLS vs. RAAX - Drawdown Comparison

The maximum SPLS drawdown since its inception was -9.24%, smaller than the maximum RAAX drawdown of -33.91%. Use the drawdown chart below to compare losses from any high point for SPLS and RAAX.

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Drawdown Indicators

SPLSRAAXDifference

Max Drawdown

Largest peak-to-trough decline

-9.24%

-33.91%

+24.67%

Max Drawdown (1Y)

Largest decline over 1 year

—

-6.62%

—

Max Drawdown (3Y)

Largest decline over 3 years

—

-11.59%

—

Max Drawdown (5Y)

Largest decline over 5 years

—

-23.55%

—

Current Drawdown

Current decline from peak

-0.31%

-2.76%

+2.45%

Average Drawdown

Average peak-to-trough decline

-1.84%

-6.78%

+4.94%

Ulcer Index

Depth and duration of drawdowns from previous peaks

—

1.78%

—

Volatility

SPLS vs. RAAX - Volatility Comparison

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Volatility by Period

SPLSRAAXDifference

Volatility (1M)

Calculated over the trailing 1-month period

—

2.90%

—

Volatility (6M)

Calculated over the trailing 6-month period

—

11.57%

—

Volatility (1Y)

Calculated over the trailing 1-year period

14.94%

13.60%

+1.34%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.94%

15.60%

-0.66%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.94%

15.75%

-0.81%

SPLS vs. RAAX - Expense Ratio Comparison

SPLS has a 0.18% expense ratio, which is lower than RAAX's 0.78% expense ratio.

Dividends

SPLS vs. RAAX - Dividend Comparison

SPLS's dividend yield for the trailing twelve months is around 0.22%, less than RAAX's 1.97% yield.

PositionTTM20252024202320222021202020192018
RAAX
VanEck Inflation Allocation ETF		1.97%2.34%1.91%3.66%1.53%8.72%6.27%2.37%0.56%
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%0.00%

Frequently Asked Questions

SPLS and RAAX have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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.

SPLS is cheaper with a 0.18% expense ratio, compared with 0.78% for RAAX.

RAAX has the higher dividend yield at 1.97%, compared with 0.22% for SPLS.

They also come from different issuers: PIMCO and VanEck. Their fees differ too: 0.18% for SPLS and 0.78% for RAAX.

Portfolio Optimizer

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