BNDI vs. FBND
BNDI (Neos Enhanced Income Aggregate Bond ETF) and FBND (Fidelity Total Bond ETF) are both Intermediate Core-Plus Bond funds. Both are actively managed. Over the past 3 years, BNDI returned 4.98%/yr vs 4.67%/yr for FBND. Their 0.95 correlation means they have historically moved very closely together. BNDI charges 0.58%/yr vs 0.36%/yr for FBND.
Performance
BNDI vs. FBND - Performance Comparison
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Returns By Period
In the year-to-date period, BNDI achieves a 1.03% return, which is significantly higher than FBND's -0.08% return.
BNDI
- 1D
- 0.39%
- 1M
- -0.76%
- 6M
- 0.76%
- YTD
- 1.03%
- 1Y
- 4.24%
- 3Y*
- 4.98%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 3.67%
FBND
- 1D
- 0.25%
- 1M
- -1.01%
- 6M
- -0.18%
- YTD
- -0.08%
- 1Y
- 2.33%
- 3Y*
- 4.67%
- 5Y*
- 0.34%
- 10Y*
- 2.28%
- ALL TIME*
- 2.49%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.17M | $1.21M | $1.43M | |
| $137.95M | $129.50M | $125.63M |
BNDI vs. FBND - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
BNDI Neos Enhanced Income Aggregate Bond ETF | 1.03% | 7.95% | 1.74% | 6.89% | -2.88% |
FBND Fidelity Total Bond ETF | -0.08% | 7.57% | 2.13% | 6.81% | -2.41% |
Correlation
The correlation between BNDI and FBND is 0.94, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.94 |
Correlation (3Y) Balances recent behavior with more history. | 0.95 |
Correlation (All Time) Calculated using the full available price history since Aug 30, 2022 | 0.95 |
The correlation between BNDI and FBND has been stable across timeframes, ranging from 0.94 to 0.95 - a consistent structural relationship.
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Return for Risk
BNDI vs. FBND — Risk / Return Rank
BNDI
FBND
BNDI vs. FBND - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Neos Enhanced Income Aggregate Bond ETF (BNDI) and Fidelity Total Bond ETF (FBND). 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 | FBND | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.40 | ||
| Sortino ratioReturn per unit of downside risk | +0.63 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.11 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.55 | 0.88 | +0.67 |
| Martin ratioReturn relative to average drawdown | 5.12 | 2.22 | +2.90 |
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Drawdowns
BNDI vs. FBND - Drawdown Comparison
The maximum BNDI drawdown since its inception was -7.25%, smaller than the maximum FBND drawdown of -17.25%. Use the drawdown chart below to compare losses from any high point for BNDI and FBND.
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Drawdown Indicators
| BNDI | FBND | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -7.25% | -17.25% | +10.00% |
Max Drawdown (1Y)Largest decline over 1 year | -2.75% | -2.66% | -0.09% |
Max Drawdown (3Y)Largest decline over 3 years | -4.90% | -4.95% | +0.05% |
Max Drawdown (5Y)Largest decline over 5 years | — | -17.25% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -17.25% | — |
Current DrawdownCurrent decline from peak | -1.23% | -2.00% | +0.77% |
Average DrawdownAverage peak-to-trough decline | -1.70% | -3.32% | +1.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.83% | 1.05% | -0.22% |
Volatility
BNDI vs. FBND - Volatility Comparison
Neos Enhanced Income Aggregate Bond ETF (BNDI) has a higher volatility of 1.07% compared to Fidelity Total Bond ETF (FBND) at 0.97%. This indicates that BNDI's price experiences larger fluctuations and is considered to be riskier than FBND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BNDI | FBND | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.07% | 0.97% | +0.10% |
Volatility (6M)Calculated over the trailing 6-month period | 3.37% | 2.95% | +0.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.11% | 3.71% | +0.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.13% | 5.93% | +0.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.13% | 6.10% | +0.03% |
BNDI vs. FBND - Expense Ratio Comparison
BNDI has a 0.58% expense ratio, which is higher than FBND's 0.36% expense ratio.
Dividends
BNDI vs. FBND - Dividend Comparison
BNDI's dividend yield for the trailing twelve months is around 5.89%, more than FBND's 4.76% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BNDI Neos Enhanced Income Aggregate Bond ETF | 5.89% | 5.69% | 5.54% | 5.17% | 1.68% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
FBND Fidelity Total Bond ETF | 4.76% | 4.70% | 4.73% | 4.26% | 3.07% | 1.86% | 4.25% | 2.90% | 2.93% | 2.56% | 2.84% | 3.26% |
Frequently Asked Questions
With a correlation of 0.94, BNDI and FBND 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.
BNDI has higher volatility (1.07%) compared to FBND (0.97%). In terms of maximum drawdown, BNDI dropped -7.25% vs FBND's -17.25%.
On 3-year performance, BNDI leads with 4.98% vs 4.67% for FBND. On fees, FBND is cheaper at 0.36% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, BNDI has performed better with a 4.98% return vs 4.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FBND is cheaper with a 0.36% expense ratio, compared with 0.58% for BNDI.
BNDI has the higher dividend yield at 5.89%, compared with 4.76% for FBND.
They also come from different issuers: Neos and Fidelity. Their fees differ too: 0.58% for BNDI and 0.36% for FBND.
BNDI currently has the higher Sharpe Ratio (1.04 vs 0.63), 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.
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