BNDI vs. MLPI

Last updated Aug 4, 2026

BNDI (Neos Enhanced Income Aggregate Bond ETF) and MLPI (NEOS MLP & Energy Infrastructure High Income ETF) are both exchange-traded funds - BNDI is a Intermediate Core-Plus Bond fund actively managed by Neos, while MLPI is a Infrastructure Equities fund actively managed by Neos. Both are actively managed. Their -0.22 correlation means they have often moved in opposite directions in the past. BNDI charges 0.58%/yr vs 0.68%/yr for MLPI.

Performance

BNDI vs. MLPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Neos Enhanced Income Aggregate Bond ETF (BNDI) and NEOS MLP & Energy Infrastructure High Income ETF (MLPI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BNDI achieves a 1.03% return, which is significantly lower than MLPI's 17.83% 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%

MLPI

• 1D: -0.28%
• 1M: -0.32%
• 6M: 11.98%
• YTD: 17.83%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BNDI Neos Enhanced Income Aggregate Bond ETF	$1.17M	$1.21M	$1.43M
MLPI NEOS MLP & Energy Infrastructure High Income ETF	$22.33M	$21.99M	$19.61M

BNDI vs. MLPI - Yearly Performance Comparison

	2026 (YTD)	2025
BNDI Neos Enhanced Income Aggregate Bond ETF	1.03%	0.23%
MLPI NEOS MLP & Energy Infrastructure High Income ETF	17.83%	0.36%

Correlation

The correlation between BNDI and MLPI is -0.22, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 18, 2025	-0.22

Return for Risk

BNDI vs. MLPI — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

BNDI

BNDI Risk / Return Rank: 41
BNDI Sharpe Ratio Rank: 40
BNDI Sortino Ratio Rank: 41
BNDI Omega Ratio Rank: 38
BNDI Calmar Ratio Rank: 42
BNDI Martin Ratio Rank: 45

MLPI

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

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

BNDI vs. MLPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Neos Enhanced Income Aggregate Bond ETF (BNDI) and NEOS MLP & Energy Infrastructure High Income ETF (MLPI). 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	MLPI	Difference
Sharpe ratio: Return per unit of total volatility	1.04	—	—
Sortino ratio: Return per unit of downside risk	1.55	—	—
Omega ratio: Gain probability vs. loss probability	1.18	—	—
Calmar ratio: Return relative to maximum drawdown	1.55	—	—
Martin ratio: Return relative to average drawdown	5.12	—	—

Drawdowns

BNDI vs. MLPI - Drawdown Comparison

The maximum BNDI drawdown since its inception was -7.25%, which is greater than MLPI's maximum drawdown of -5.38%. Use the drawdown chart below to compare losses from any high point for BNDI and MLPI.

Drawdown Indicators

	BNDI	MLPI	Difference
Max Drawdown Largest peak-to-trough decline	-7.25%	-5.38%	-1.87%
Max Drawdown (1Y) Largest decline over 1 year	-2.75%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-4.90%	—	—
Current Drawdown Current decline from peak	-1.23%	-3.63%	+2.40%
Average Drawdown Average peak-to-trough decline	-1.70%	-1.65%	-0.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.83%	—	—

Volatility

Volatility by Period

	BNDI	MLPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.07%	—	—
Volatility (6M) Calculated over the trailing 6-month period	3.37%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	4.11%	13.28%	-9.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.13%	13.28%	-7.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.13%	13.28%	-7.15%

BNDI vs. MLPI - Expense Ratio Comparison

BNDI has a 0.58% expense ratio, which is lower than MLPI's 0.68% expense ratio.

Dividends

BNDI vs. MLPI - Dividend Comparison

BNDI's dividend yield for the trailing twelve months is around 5.89%, less than MLPI's 8.65% yield.

Position	TTM	2025	2024	2023	2022
BNDI Neos Enhanced Income Aggregate Bond ETF	5.89%	5.69%	5.54%	5.17%	1.68%
MLPI NEOS MLP & Energy Infrastructure High Income ETF	8.65%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BNDI and MLPI in my portfolio?

BNDI and MLPI 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.

Which ETF is better, BNDI or MLPI?

On fees, BNDI is cheaper at 0.58% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BNDI or MLPI?

BNDI is cheaper with a 0.58% expense ratio, compared with 0.68% for MLPI.

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

MLPI has the higher dividend yield at 8.65%, compared with 5.89% for BNDI.

What is the main difference between BNDI and MLPI?

BNDI is categorized as Intermediate Core-Plus Bond, while MLPI is Infrastructure Equities. Their fees differ too: 0.58% for BNDI and 0.68% for MLPI.