BNDI vs. BOND

Last updated Jun 24, 2026

BNDI (Neos Enhanced Income Aggregate Bond ETF) and BOND (PIMCO Active Bond ETF) are both Intermediate Core-Plus Bond funds. Both are actively managed. Over the past 3 years, BNDI returned 4.85%/yr vs 5.13%/yr for BOND. Their correlation of 0.93 suggests significant overlap in exposure. BNDI charges 0.58%/yr vs 0.54%/yr for BOND.

Performance

BNDI vs. BOND - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Neos Enhanced Income Aggregate Bond ETF (BNDI) and PIMCO Active Bond ETF (BOND). 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 BOND's 0.82% return.

BNDI

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

BOND

• 1D: 0.16%
• 1M: 0.93%
• YTD: 0.82%
• 6M: 0.96%
• 1Y: 5.76%
• 3Y*: 5.13%
• 5Y*: 0.48%
• 10Y*: 2.17%

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

BNDI vs. BOND - 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%
BOND PIMCO Active Bond ETF	0.82%	8.39%	2.77%	6.48%	-3.31%

Correlation

The correlation between BNDI and BOND is 0.93, 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	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (All Time) Calculated using the full available price history since Aug 30, 2022	0.93

The correlation between BNDI and BOND has been stable across timeframes, ranging from 0.93 to 0.94 - a consistent structural relationship.

Return for Risk

BNDI vs. BOND — 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

BOND

BOND Risk / Return Rank: 41
BOND Sharpe Ratio Rank: 43
BOND Sortino Ratio Rank: 44
BOND Omega Ratio Rank: 41
BOND Calmar Ratio Rank: 40
BOND Martin Ratio Rank: 38

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. BOND - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Neos Enhanced Income Aggregate Bond ETF (BNDI) and PIMCO Active Bond ETF (BOND). 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	BOND	Difference
Sharpe ratio: Return per unit of total volatility	1.45	1.46	0.00
Sortino ratio: Return per unit of downside risk	2.21	2.13	+0.09
Omega ratio: Gain probability vs. loss probability	1.26	1.26	0.00
Calmar ratio: Return relative to maximum drawdown	2.24	1.92	+0.32
Martin ratio: Return relative to average drawdown	7.76	5.79	+1.97

BNDI vs. BOND - Sharpe Ratio Comparison

The current BNDI Sharpe Ratio is 1.45, which is comparable to the BOND Sharpe Ratio of 1.46. The chart below compares the historical Sharpe Ratios of BNDI and BOND, 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. BOND - Drawdown Comparison

The maximum BNDI drawdown since its inception was -7.25%, smaller than the maximum BOND drawdown of -19.71%. Use the drawdown chart below to compare losses from any high point for BNDI and BOND.

Drawdown Indicators

	BNDI	BOND	Difference
Max Drawdown Largest peak-to-trough decline	-7.25%	-19.71%	+12.46%
Max Drawdown (1Y) Largest decline over 1 year	-2.75%	-3.01%	+0.26%
Max Drawdown (3Y) Largest decline over 3 years	-5.83%	-6.12%	+0.29%
Max Drawdown (5Y) Largest decline over 5 years	—	-19.71%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-19.71%	—
Current Drawdown Current decline from peak	-0.64%	-1.24%	+0.60%
Average Drawdown Average peak-to-trough decline	-1.72%	-3.50%	+1.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.79%	1.00%	-0.21%

Volatility

BNDI vs. BOND - Volatility Comparison

Neos Enhanced Income Aggregate Bond ETF (BNDI) has a higher volatility of 1.43% compared to PIMCO Active Bond ETF (BOND) at 1.35%. This indicates that BNDI's price experiences larger fluctuations and is considered to be riskier than BOND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BNDI	BOND	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.43%	1.35%	+0.08%
Volatility (6M) Calculated over the trailing 6-month period	3.28%	3.05%	+0.23%
Volatility (1Y) Calculated over the trailing 1-year period	4.25%	3.98%	+0.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.18%	5.78%	+0.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.18%	5.10%	+1.08%

BNDI vs. BOND - Expense Ratio Comparison

BNDI has a 0.58% expense ratio, which is higher than BOND's 0.54% expense ratio.

Dividends

BNDI vs. BOND - Dividend Comparison

BNDI's dividend yield for the trailing twelve months is around 6.30%, more than BOND's 5.17% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
BOND PIMCO Active Bond ETF	5.17%	5.11%	5.02%	4.06%	3.44%	2.58%	2.66%	3.38%	3.18%	2.87%	2.85%	4.14%

Frequently Asked Questions

Can I hold both BNDI and BOND in my portfolio?

With a correlation of 0.93, BNDI and BOND 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 BOND?

BNDI has higher volatility (1.43%) compared to BOND (1.35%). In terms of maximum drawdown, BNDI dropped -7.25% vs BOND's -19.71%.

Which ETF is better, BNDI or BOND?

On 3-year performance, BOND leads with 5.13% vs 4.85% for BNDI. On fees, BOND is cheaper at 0.54% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BNDI or BOND?

Over the 3-year period, BOND has performed better with a 5.13% return vs 4.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BNDI or BOND?

BOND is cheaper with a 0.54% expense ratio, compared with 0.58% for BNDI.

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

BNDI has the higher dividend yield at 6.30%, compared with 5.17% for BOND.

What is the main difference between BNDI and BOND?

They also come from different issuers: Neos and PIMCO. Their fees differ too: 0.58% for BNDI and 0.54% for BOND.

Which has better risk-adjusted returns?

BOND currently has the higher Sharpe Ratio (1.46 vs 1.45), 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.