BNDI vs. BNDP

Last updated Jun 24, 2026

BNDI (Neos Enhanced Income Aggregate Bond ETF) and BNDP (Vanguard Core-Plus Bond Index ETF) are both Intermediate Core-Plus Bond funds. BNDI is actively managed, while BNDP is passively managed. Their correlation of 0.94 suggests significant overlap in exposure. BNDI charges 0.58%/yr vs 0.05%/yr for BNDP.

Performance

BNDI vs. BNDP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Neos Enhanced Income Aggregate Bond ETF (BNDI) and Vanguard Core-Plus Bond Index ETF (BNDP). 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 BNDP's 0.52% return.

BNDI

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

BNDP

• 1D: 0.10%
• 1M: 0.84%
• YTD: 0.52%
• 6M: 0.65%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BNDI vs. BNDP - Yearly Performance Comparison

	2026 (YTD)	2025
BNDI Neos Enhanced Income Aggregate Bond ETF	1.50%	-0.07%
BNDP Vanguard Core-Plus Bond Index ETF	0.52%	0.08%

Correlation

The correlation between BNDI and BNDP 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 (All Time) Calculated using the full available price history since Dec 4, 2025	0.94

Return for Risk

BNDI vs. BNDP — 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

BNDP

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

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. BNDP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Neos Enhanced Income Aggregate Bond ETF (BNDI) and Vanguard Core-Plus Bond Index ETF (BNDP). 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	BNDP	Difference
Sharpe ratio: Return per unit of total volatility	1.45	—	—
Sortino ratio: Return per unit of downside risk	2.21	—	—
Omega ratio: Gain probability vs. loss probability	1.26	—	—
Calmar ratio: Return relative to maximum drawdown	2.24	—	—
Martin ratio: Return relative to average drawdown	7.76	—	—

Drawdowns

BNDI vs. BNDP - Drawdown Comparison

The maximum BNDI drawdown since its inception was -7.25%, which is greater than BNDP's maximum drawdown of -2.60%. Use the drawdown chart below to compare losses from any high point for BNDI and BNDP.

Drawdown Indicators

	BNDI	BNDP	Difference
Max Drawdown Largest peak-to-trough decline	-7.25%	-2.60%	-4.65%
Max Drawdown (1Y) Largest decline over 1 year	-2.75%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-5.83%	—	—
Current Drawdown Current decline from peak	-0.64%	-1.13%	+0.49%
Average Drawdown Average peak-to-trough decline	-1.72%	-0.89%	-0.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.79%	—	—

Volatility

Volatility by Period

	BNDI	BNDP	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.43%	—	—
Volatility (6M) Calculated over the trailing 6-month period	3.28%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	4.25%	3.70%	+0.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.18%	3.70%	+2.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.18%	3.70%	+2.48%

BNDI vs. BNDP - Expense Ratio Comparison

BNDI has a 0.58% expense ratio, which is higher than BNDP's 0.05% expense ratio.

Dividends

BNDI vs. BNDP - Dividend Comparison

BNDI's dividend yield for the trailing twelve months is around 6.30%, more than BNDP's 2.07% yield.

Position	TTM	2025	2024	2023	2022
BNDI Neos Enhanced Income Aggregate Bond ETF	6.30%	5.69%	5.54%	5.17%	1.68%
BNDP Vanguard Core-Plus Bond Index ETF	2.07%	0.24%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BNDI and BNDP in my portfolio?

With a correlation of 0.94, BNDI and BNDP 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, BNDI or BNDP?

On fees, BNDP is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BNDI or BNDP?

BNDP is cheaper with a 0.05% expense ratio, compared with 0.58% for BNDI.

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

BNDI has the higher dividend yield at 6.30%, compared with 2.07% for BNDP.

What is the main difference between BNDI and BNDP?

They also come from different issuers: Neos and Vanguard. Their fees differ too: 0.58% for BNDI and 0.05% for BNDP.