BNDI vs. PIT

Last updated Jun 23, 2026

BNDI (Neos Enhanced Income Aggregate Bond ETF) and PIT (VanEck Commodity Strategy ETF) are both exchange-traded funds - BNDI is a Intermediate Core-Plus Bond fund actively managed by Neos, while PIT is a Commodities fund actively managed by VanEck. Both are actively managed. Over the past 3 years, BNDI returned 4.85%/yr vs 19.51%/yr for PIT. At a correlation of -0.10, they often move in opposite directions. BNDI charges 0.58%/yr vs 0.55%/yr for PIT.

Performance

BNDI vs. PIT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Neos Enhanced Income Aggregate Bond ETF (BNDI) and VanEck Commodity Strategy ETF (PIT). 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 lower than PIT's 27.31% return.

BNDI

• 1D: -0.20%
• 1M: 0.63%
• YTD: 1.50%
• 6M: 1.54%
• 1Y: 6.43%
• 3Y*: 4.85%
• 5Y*: —
• 10Y*: —

PIT

• 1D: -0.75%
• 1M: -10.60%
• YTD: 27.31%
• 6M: 26.74%
• 1Y: 38.33%
• 3Y*: 19.51%
• 5Y*: —
• 10Y*: —

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

BNDI vs. PIT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
BNDI Neos Enhanced Income Aggregate Bond ETF	1.50%	7.95%	1.74%	6.89%	-1.36%
PIT VanEck Commodity Strategy ETF	27.31%	21.63%	6.77%	-4.54%	1.67%

Correlation

The correlation between BNDI and PIT is -0.28, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.28
Correlation (3Y) Calculated over the trailing 3-year period	-0.10
Correlation (All Time) Calculated using the full available price history since Dec 22, 2022	-0.10

The correlation between BNDI and PIT shifts across timeframes, from -0.28 (1 year) to -0.10 (all time), reflecting how their relationship changes across market environments.

Return for Risk

BNDI vs. PIT — Risk / Return Rank

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

BNDI

BNDI Risk / Return Rank: 47
BNDI Sharpe Ratio Rank: 45
BNDI Sortino Ratio Rank: 48
BNDI Omega Ratio Rank: 44
BNDI Calmar Ratio Rank: 49
BNDI Martin Ratio Rank: 50

PIT

PIT Risk / Return Rank: 55
PIT Sharpe Ratio Rank: 54
PIT Sortino Ratio Rank: 48
PIT Omega Ratio Rank: 52
PIT Calmar Ratio Rank: 57
PIT Martin Ratio Rank: 62

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. PIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Neos Enhanced Income Aggregate Bond ETF (BNDI) and VanEck Commodity Strategy ETF (PIT). 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	PIT	Difference
Sharpe ratio: Return per unit of total volatility	1.52	1.78	-0.26
Sortino ratio: Return per unit of downside risk	2.32	2.32	0.00
Omega ratio: Gain probability vs. loss probability	1.27	1.32	-0.04
Calmar ratio: Return relative to maximum drawdown	2.35	2.74	-0.39
Martin ratio: Return relative to average drawdown	8.14	10.88	-2.73

BNDI vs. PIT - Sharpe Ratio Comparison

The current BNDI Sharpe Ratio is 1.52, which is comparable to the PIT Sharpe Ratio of 1.78. The chart below compares the historical Sharpe Ratios of BNDI and PIT, 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. PIT - Drawdown Comparison

The maximum BNDI drawdown since its inception was -7.25%, smaller than the maximum PIT drawdown of -14.05%. Use the drawdown chart below to compare losses from any high point for BNDI and PIT.

Drawdown Indicators

	BNDI	PIT	Difference
Max Drawdown Largest peak-to-trough decline	-7.25%	-14.05%	+6.80%
Max Drawdown (1Y) Largest decline over 1 year	-2.75%	-14.05%	+11.30%
Max Drawdown (3Y) Largest decline over 3 years	-5.83%	-14.05%	+8.22%
Current Drawdown Current decline from peak	-0.64%	-14.05%	+13.41%
Average Drawdown Average peak-to-trough decline	-1.72%	-4.07%	+2.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.79%	3.59%	-2.80%

Volatility

BNDI vs. PIT - Volatility Comparison

The current volatility for Neos Enhanced Income Aggregate Bond ETF (BNDI) is 1.43%, while VanEck Commodity Strategy ETF (PIT) has a volatility of 4.67%. This indicates that BNDI experiences smaller price fluctuations and is considered to be less risky than PIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BNDI	PIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.43%	4.67%	-3.24%
Volatility (6M) Calculated over the trailing 6-month period	3.30%	19.36%	-16.06%
Volatility (1Y) Calculated over the trailing 1-year period	4.25%	21.66%	-17.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.19%	17.50%	-11.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.19%	17.50%	-11.31%

BNDI vs. PIT - Expense Ratio Comparison

BNDI has a 0.58% expense ratio, which is higher than PIT's 0.55% expense ratio.

Dividends

BNDI vs. PIT - Dividend Comparison

BNDI's dividend yield for the trailing twelve months is around 6.30%, less than PIT's 7.00% yield.

Position	TTM	2025	2024	2023	2022
BNDI Neos Enhanced Income Aggregate Bond ETF	6.30%	5.69%	5.54%	5.17%	1.68%
PIT VanEck Commodity Strategy ETF	7.00%	8.92%	3.59%	6.44%	0.00%

Frequently Asked Questions

Can I hold both BNDI and PIT in my portfolio?

BNDI and PIT have a correlation of -0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BNDI or PIT?

PIT has higher volatility (4.67%) compared to BNDI (1.43%). In terms of maximum drawdown, BNDI dropped -7.25% vs PIT's -14.05%.

Which ETF is better, BNDI or PIT?

On 3-year performance, PIT leads with 19.51% vs 4.85% for BNDI. On fees, PIT is cheaper at 0.55% per year. On volatility, BNDI has been the lower-risk option at 1.43%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BNDI or PIT?

Over the 3-year period, PIT has performed better with a 19.51% 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 PIT?

PIT is cheaper with a 0.55% expense ratio, compared with 0.58% for BNDI.

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

PIT has the higher dividend yield at 7.00%, compared with 6.30% for BNDI.

What is the main difference between BNDI and PIT?

BNDI is categorized as Intermediate Core-Plus Bond, while PIT is Commodities. They also come from different issuers: Neos and VanEck. Their fees differ too: 0.58% for BNDI and 0.55% for PIT.

Which has better risk-adjusted returns?

PIT currently has the higher Sharpe Ratio (1.78 vs 1.52), 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.