BNDI vs. YCS
BNDI (Neos Enhanced Income Aggregate Bond ETF) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - BNDI is a Intermediate Core-Plus Bond fund actively managed by Neos, while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). BNDI is actively managed, while YCS is passively managed. Over the past 3 years, BNDI returned 4.83%/yr vs 19.84%/yr for YCS. At a correlation of -0.48, they often move in opposite directions. BNDI charges 0.58%/yr vs 1.00%/yr for YCS.
Performance
BNDI vs. YCS - Performance Comparison
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Returns By Period
In the year-to-date period, BNDI achieves a 1.29% return, which is significantly lower than YCS's 7.17% return.
BNDI
- 1D
- -0.21%
- 1M
- 0.36%
- YTD
- 1.29%
- 6M
- 1.22%
- 1Y
- 7.00%
- 3Y*
- 4.83%
- 5Y*
- —
- 10Y*
- —
YCS
- 1D
- 0.17%
- 1M
- 4.42%
- YTD
- 7.17%
- 6M
- 10.05%
- 1Y
- 32.82%
- 3Y*
- 19.84%
- 5Y*
- 23.54%
- 10Y*
- 12.34%
BNDI vs. YCS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
BNDI Neos Enhanced Income Aggregate Bond ETF | 1.29% | 7.95% | 1.74% | 6.89% | -2.60% |
YCS ProShares UltraShort Yen | 7.17% | 9.04% | 35.41% | 28.70% | -10.20% |
Correlation
The correlation between BNDI and YCS is -0.50, 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 | -0.50 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.46 |
Correlation (All Time) Calculated using the full available price history since Aug 31, 2022 | -0.48 |
The correlation between BNDI and YCS has been stable across timeframes, ranging from -0.50 to -0.46 - a consistent structural relationship.
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Return for Risk
BNDI vs. YCS — Risk / Return Rank
BNDI
YCS
BNDI vs. YCS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Neos Enhanced Income Aggregate Bond ETF (BNDI) and ProShares UltraShort Yen (YCS). 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.
| BNDI | YCS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.23 | ||
| Sortino ratioReturn per unit of downside risk | +0.10 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.35 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.56 | 3.97 | -1.41 |
| Martin ratioReturn relative to average drawdown | 9.12 | 12.40 | -3.28 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BNDI | YCS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.69 | 1.92 | -0.23 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 1.12 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.65 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.65 | 0.33 | +0.32 |
Drawdowns
BNDI vs. YCS - Drawdown Comparison
The maximum BNDI drawdown since its inception was -6.98%, smaller than the maximum YCS drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for BNDI and YCS.
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Drawdown Indicators
| BNDI | YCS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.98% | -49.56% | +42.58% |
Max Drawdown (1Y)Largest decline over 1 year | -2.75% | -8.30% | +5.55% |
Max Drawdown (3Y)Largest decline over 3 years | -5.83% | -23.05% | +17.22% |
Max Drawdown (5Y)Largest decline over 5 years | — | -27.32% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -27.32% | — |
Current DrawdownCurrent decline from peak | -0.84% | 0.00% | -0.84% |
Average DrawdownAverage peak-to-trough decline | -1.71% | -19.93% | +18.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.77% | 2.66% | -1.89% |
Volatility
BNDI vs. YCS - Volatility Comparison
The current volatility for Neos Enhanced Income Aggregate Bond ETF (BNDI) is 1.38%, while ProShares UltraShort Yen (YCS) has a volatility of 2.75%. This indicates that BNDI experiences smaller price fluctuations and is considered to be less risky than YCS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BNDI | YCS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.38% | 2.75% | -1.37% |
Volatility (6M)Calculated over the trailing 6-month period | 3.08% | 12.32% | -9.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.17% | 17.27% | -13.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.19% | 21.10% | -14.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.19% | 19.01% | -12.82% |
BNDI vs. YCS - Expense Ratio Comparison
BNDI has a 0.58% expense ratio, which is lower than YCS's 1.00% expense ratio.
Dividends
BNDI vs. YCS - Dividend Comparison
BNDI's dividend yield for the trailing twelve months is around 5.80%, while YCS has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
BNDI Neos Enhanced Income Aggregate Bond ETF | 5.80% | 5.69% | 5.54% | 5.17% | 1.68% |
YCS ProShares UltraShort Yen | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BNDI and YCS have a correlation of -0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
YCS has higher volatility (2.75%) compared to BNDI (1.38%). In terms of maximum drawdown, BNDI dropped -6.98% vs YCS's -49.56%.
On 3-year performance, YCS leads with 19.84% vs 4.83% for BNDI. On fees, BNDI is cheaper at 0.58% per year. On volatility, BNDI has been the lower-risk option at 1.38%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, YCS has performed better with a 19.84% return vs 4.83%. 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 1.00% for YCS.
BNDI has the higher dividend yield at 5.80%, compared with 0.00% for YCS.
BNDI is categorized as Intermediate Core-Plus Bond, while YCS is Leveraged Currency. They also come from different issuers: Neos and ProShares. Their fees differ too: 0.58% for BNDI and 1.00% for YCS.
YCS currently has the higher Sharpe Ratio (1.92 vs 1.69), 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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