BNDI vs. SDCI
BNDI (Neos Enhanced Income Aggregate Bond ETF) and SDCI (USCF SummerHaven Dynamic Commodity Strategy No K-1 Fund) are both exchange-traded funds - BNDI is a Intermediate Core-Plus Bond fund actively managed by Neos, while SDCI is a Commodities fund tracking the SummerHaven Dynamic Commodity Index Total Return. BNDI is actively managed, while SDCI is passively managed. Over the past 3 years, BNDI returned 4.68%/yr vs 21.11%/yr for SDCI. At a correlation of -0.05, they often move in opposite directions. BNDI charges 0.58%/yr vs 0.60%/yr for SDCI.
Performance
BNDI vs. SDCI - Performance Comparison
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Returns By Period
In the year-to-date period, BNDI achieves a 0.97% return, which is significantly lower than SDCI's 27.24% return.
BNDI
- 1D
- -0.31%
- 1M
- -0.52%
- 6M
- 0.72%
- YTD
- 0.97%
- 1Y
- 5.62%
- 3Y*
- 4.68%
- 5Y*
- —
- 10Y*
- —
SDCI
- 1D
- 2.45%
- 1M
- 3.24%
- 6M
- 22.83%
- YTD
- 27.24%
- 1Y
- 31.47%
- 3Y*
- 21.11%
- 5Y*
- 20.23%
- 10Y*
- —
BNDI vs. SDCI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
BNDI Neos Enhanced Income Aggregate Bond ETF | 0.97% | 7.95% | 1.74% | 6.89% | -2.88% |
SDCI USCF SummerHaven Dynamic Commodity Strategy No K-1 Fund | 27.24% | 17.60% | 17.91% | -0.88% | 0.32% |
Correlation
The correlation between BNDI and SDCI is -0.31, 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 | -0.31 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.11 |
Correlation (All Time) Calculated using the full available price history since Aug 30, 2022 | -0.05 |
Over the past year, the inverse relationship between BNDI and SDCI has strengthened: their correlation has moved from -0.05 to -0.31, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
BNDI vs. SDCI — Risk / Return Rank
BNDI
SDCI
BNDI vs. SDCI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Neos Enhanced Income Aggregate Bond ETF (BNDI) and USCF SummerHaven Dynamic Commodity Strategy No K-1 Fund (SDCI). 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 | SDCI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.49 | ||
| Sortino ratioReturn per unit of downside risk | -0.45 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.31 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 2.05 | 2.87 | -0.82 |
| Martin ratioReturn relative to average drawdown | 7.29 | 9.00 | -1.71 |
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Drawdowns
BNDI vs. SDCI - Drawdown Comparison
The maximum BNDI drawdown since its inception was -7.25%, smaller than the maximum SDCI drawdown of -45.79%. Use the drawdown chart below to compare losses from any high point for BNDI and SDCI.
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Drawdown Indicators
| BNDI | SDCI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -7.25% | -45.79% | +38.54% |
Max Drawdown (1Y)Largest decline over 1 year | -2.75% | -11.03% | +8.28% |
Max Drawdown (3Y)Largest decline over 3 years | -5.83% | -11.96% | +6.13% |
Max Drawdown (5Y)Largest decline over 5 years | — | -18.55% | — |
Current DrawdownCurrent decline from peak | -1.29% | -4.30% | +3.01% |
Average DrawdownAverage peak-to-trough decline | -1.71% | -11.53% | +9.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.77% | 3.51% | -2.74% |
Volatility
BNDI vs. SDCI - Volatility Comparison
The current volatility for Neos Enhanced Income Aggregate Bond ETF (BNDI) is 1.49%, while USCF SummerHaven Dynamic Commodity Strategy No K-1 Fund (SDCI) has a volatility of 5.40%. This indicates that BNDI experiences smaller price fluctuations and is considered to be less risky than SDCI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BNDI | SDCI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.49% | 5.40% | -3.91% |
Volatility (6M)Calculated over the trailing 6-month period | 3.38% | 14.76% | -11.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.17% | 17.17% | -13.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.16% | 18.43% | -12.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.16% | 17.09% | -10.93% |
BNDI vs. SDCI - Expense Ratio Comparison
BNDI has a 0.58% expense ratio, which is lower than SDCI's 0.60% expense ratio.
Dividends
BNDI vs. SDCI - Dividend Comparison
BNDI's dividend yield for the trailing twelve months is around 5.86%, more than SDCI's 2.89% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
BNDI Neos Enhanced Income Aggregate Bond ETF | 5.86% | 5.69% | 5.54% | 5.17% | 1.68% | 0.00% | 0.00% | 0.00% | 0.00% |
SDCI USCF SummerHaven Dynamic Commodity Strategy No K-1 Fund | 2.89% | 3.68% | 5.92% | 3.46% | 33.49% | 19.26% | 0.20% | 0.93% | 0.68% |
Frequently Asked Questions
BNDI and SDCI have a correlation of -0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SDCI has higher volatility (5.40%) compared to BNDI (1.49%). In terms of maximum drawdown, BNDI dropped -7.25% vs SDCI's -45.79%.
On 3-year performance, SDCI leads with 21.11% vs 4.68% for BNDI. On fees, BNDI is cheaper at 0.58% per year. On volatility, BNDI has been the lower-risk option at 1.49%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, SDCI has performed better with a 21.11% return vs 4.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BNDI is cheaper with a 0.58% expense ratio, compared with 0.60% for SDCI.
BNDI has the higher dividend yield at 5.86%, compared with 2.89% for SDCI.
BNDI is categorized as Intermediate Core-Plus Bond, while SDCI is Commodities. They also come from different issuers: Neos and USCF Investments. Their fees differ too: 0.58% for BNDI and 0.60% for SDCI.
SDCI currently has the higher Sharpe Ratio (1.84 vs 1.35), 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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