BNDI vs. BND

Last updated Jun 24, 2026

BNDI (Neos Enhanced Income Aggregate Bond ETF) and BND (Vanguard Total Bond Market ETF) are both exchange-traded funds - BNDI is a Intermediate Core-Plus Bond fund actively managed by Neos, while BND is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Float Adjusted Index. BNDI is actively managed, while BND is passively managed. Over the past 3 years, BNDI returned 4.85%/yr vs 3.96%/yr for BND. With a 0.97 correlation, they move nearly in lockstep. BNDI charges 0.58%/yr vs 0.03%/yr for BND.

Performance

BNDI vs. BND - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Neos Enhanced Income Aggregate Bond ETF (BNDI) and Vanguard Total Bond Market ETF (BND). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BNDI achieves a 1.50% return, which is significantly higher than BND's 0.49% return.

BNDI

• 1D: 0.00%
• 1M: 0.63%
• YTD: 1.50%
• 6M: 1.56%
• 1Y: 6.13%
• 3Y*: 4.85%
• 5Y*: —
• 10Y*: —

BND

• 1D: 0.11%
• 1M: 0.64%
• YTD: 0.49%
• 6M: 0.57%
• 1Y: 4.23%
• 3Y*: 3.96%
• 5Y*: 0.05%
• 10Y*: 1.56%

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

BNDI vs. BND - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
BNDI Neos Enhanced Income Aggregate Bond ETF	1.50%	7.95%	1.74%	6.89%	-2.88%
BND Vanguard Total Bond Market ETF	0.49%	7.08%	1.38%	5.65%	-2.94%

Correlation

The correlation between BNDI and BND 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 (1Y) Calculated over the trailing 1-year period	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (All Time) Calculated using the full available price history since Aug 30, 2022	0.97

The correlation between BNDI and BND has been stable across timeframes, ranging from 0.94 to 0.97 - a consistent structural relationship.

Return for Risk

BNDI vs. BND — Risk / Return Rank

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

BNDI

BNDI Risk / Return Rank: 45
BNDI Sharpe Ratio Rank: 43
BNDI Sortino Ratio Rank: 46
BNDI Omega Ratio Rank: 42
BNDI Calmar Ratio Rank: 47
BNDI Martin Ratio Rank: 48

BND

BND Risk / Return Rank: 32
BND Sharpe Ratio Rank: 32
BND Sortino Ratio Rank: 33
BND Omega Ratio Rank: 30
BND Calmar Ratio Rank: 33
BND Martin Ratio Rank: 32

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.

BNDI vs. BND - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Neos Enhanced Income Aggregate Bond ETF (BNDI) and Vanguard Total Bond Market ETF (BND). 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.

	BNDI	BND	Difference
Sharpe ratio: Return per unit of total volatility	1.45	1.14	+0.31
Sortino ratio: Return per unit of downside risk	2.21	1.70	+0.51
Omega ratio: Gain probability vs. loss probability	1.26	1.20	+0.06
Calmar ratio: Return relative to maximum drawdown	2.24	1.59	+0.65
Martin ratio: Return relative to average drawdown	7.76	4.52	+3.24

BNDI vs. BND - Sharpe Ratio Comparison

The current BNDI Sharpe Ratio is 1.45, which is comparable to the BND Sharpe Ratio of 1.14. The chart below compares the historical Sharpe Ratios of BNDI and BND, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BNDI vs. BND - Drawdown Comparison

The maximum BNDI drawdown since its inception was -7.25%, smaller than the maximum BND drawdown of -18.58%. Use the drawdown chart below to compare losses from any high point for BNDI and BND.

Drawdown Indicators

	BNDI	BND	Difference
Max Drawdown Largest peak-to-trough decline	-7.25%	-18.58%	+11.33%
Max Drawdown (1Y) Largest decline over 1 year	-2.75%	-2.68%	-0.07%
Max Drawdown (3Y) Largest decline over 3 years	-5.83%	-5.92%	+0.09%
Max Drawdown (5Y) Largest decline over 5 years	—	-17.91%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-18.58%	—
Current Drawdown Current decline from peak	-0.64%	-2.15%	+1.51%
Average Drawdown Average peak-to-trough decline	-1.72%	-3.06%	+1.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.79%	0.94%	-0.15%

Volatility

BNDI vs. BND - Volatility Comparison

Neos Enhanced Income Aggregate Bond ETF (BNDI) has a higher volatility of 1.43% compared to Vanguard Total Bond Market ETF (BND) at 1.08%. This indicates that BNDI's price experiences larger fluctuations and is considered to be riskier than BND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BNDI	BND	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.43%	1.08%	+0.35%
Volatility (6M) Calculated over the trailing 6-month period	3.28%	2.77%	+0.51%
Volatility (1Y) Calculated over the trailing 1-year period	4.25%	3.74%	+0.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.18%	6.03%	+0.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.18%	5.53%	+0.65%

BNDI vs. BND - Expense Ratio Comparison

BNDI has a 0.58% expense ratio, which is higher than BND's 0.03% expense ratio.

Dividends

BNDI vs. BND - Dividend Comparison

BNDI's dividend yield for the trailing twelve months is around 6.30%, more than BND's 3.96% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BND Vanguard Total Bond Market ETF	3.96%	3.86%	3.67%	3.09%	2.60%	2.12%	2.38%	2.72%	2.81%	2.54%	2.51%	2.57%
BNDI Neos Enhanced Income Aggregate Bond ETF	6.30%	5.69%	5.54%	5.17%	1.68%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BNDI and BND in my portfolio?

With a correlation of 0.94, BNDI and BND 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 is riskier, BNDI or BND?

BNDI has higher volatility (1.43%) compared to BND (1.08%). In terms of maximum drawdown, BNDI dropped -7.25% vs BND's -18.58%.

Which ETF is better, BNDI or BND?

On 3-year performance, BNDI leads with 4.85% vs 3.96% for BND. On fees, BND is cheaper at 0.03% per year. On volatility, BND has been the lower-risk option at 1.08%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BNDI or BND?

Over the 3-year period, BNDI has performed better with a 4.85% return vs 3.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BNDI or BND?

BND is cheaper with a 0.03% expense ratio, compared with 0.58% for BNDI.

Which ETF pays a higher dividend yield, BNDI or BND?

BNDI has the higher dividend yield at 6.30%, compared with 3.96% for BND.

What is the main difference between BNDI and BND?

BNDI is categorized as Intermediate Core-Plus Bond, while BND is Total Bond Market. They also come from different issuers: Neos and Vanguard. Their fees differ too: 0.58% for BNDI and 0.03% for BND.

Which has better risk-adjusted returns?

BNDI currently has the higher Sharpe Ratio (1.45 vs 1.14), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.