BNDS vs. PIT

Last updated Jun 21, 2026

BNDS (Infrastructure Capital Bond Income ETF) and PIT (VanEck Commodity Strategy ETF) are both exchange-traded funds - BNDS is a Intermediate Core-Plus Bond fund actively managed by InfraCap, while PIT is a Commodities fund actively managed by VanEck. Both are actively managed. Over the past year, BNDS returned 11.57% vs 39.38% for PIT. At a correlation of -0.02, they often move in opposite directions. BNDS charges 0.81%/yr vs 0.55%/yr for PIT.

Performance

BNDS vs. PIT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Infrastructure Capital Bond Income ETF (BNDS) 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, BNDS achieves a 4.83% return, which is significantly lower than PIT's 28.27% return.

BNDS

• 1D: 0.08%
• 1M: 0.73%
• YTD: 4.83%
• 6M: 4.96%
• 1Y: 11.57%
• 3Y*: —
• 5Y*: —
• 10Y*: —

PIT

• 1D: 0.40%
• 1M: -9.92%
• YTD: 28.27%
• 6M: 29.77%
• 1Y: 39.38%
• 3Y*: 18.65%
• 5Y*: —
• 10Y*: —

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

BNDS vs. PIT - Yearly Performance Comparison

	2026 (YTD)	2025
BNDS Infrastructure Capital Bond Income ETF	4.83%	8.45%
PIT VanEck Commodity Strategy ETF	28.27%	17.18%

Correlation

The correlation between BNDS and PIT is -0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.08
Correlation (All Time) Calculated using the full available price history since Jan 15, 2025	-0.02

Return for Risk

BNDS vs. PIT — Risk / Return Rank

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

BNDS

BNDS Risk / Return Rank: 88
BNDS Sharpe Ratio Rank: 94
BNDS Sortino Ratio Rank: 95
BNDS Omega Ratio Rank: 95
BNDS Calmar Ratio Rank: 72
BNDS Martin Ratio Rank: 83

PIT

PIT Risk / Return Rank: 57
PIT Sharpe Ratio Rank: 57
PIT Sortino Ratio Rank: 50
PIT Omega Ratio Rank: 55
PIT Calmar Ratio Rank: 60
PIT Martin Ratio Rank: 65

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.

BNDS vs. PIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Infrastructure Capital Bond Income ETF (BNDS) 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.

	BNDS	PIT	Difference
Sharpe ratio: Return per unit of total volatility	3.40	1.83	+1.58
Sortino ratio: Return per unit of downside risk	5.00	2.37	+2.63
Omega ratio: Gain probability vs. loss probability	1.72	1.33	+0.39
Calmar ratio: Return relative to maximum drawdown	3.45	2.87	+0.58
Martin ratio: Return relative to average drawdown	15.90	11.34	+4.56

BNDS vs. PIT - Sharpe Ratio Comparison

The current BNDS Sharpe Ratio is 3.40, which is higher than the PIT Sharpe Ratio of 1.83. The chart below compares the historical Sharpe Ratios of BNDS 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

BNDS vs. PIT - Drawdown Comparison

The maximum BNDS drawdown since its inception was -6.96%, smaller than the maximum PIT drawdown of -13.74%. Use the drawdown chart below to compare losses from any high point for BNDS and PIT.

Drawdown Indicators

	BNDS	PIT	Difference
Max Drawdown Largest peak-to-trough decline	-6.96%	-13.74%	+6.78%
Max Drawdown (1Y) Largest decline over 1 year	-3.45%	-13.74%	+10.29%
Max Drawdown (3Y) Largest decline over 3 years	—	-13.74%	—
Current Drawdown Current decline from peak	-0.06%	-13.40%	+13.34%
Average Drawdown Average peak-to-trough decline	-0.80%	-4.06%	+3.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.75%	3.48%	-2.73%

Volatility

BNDS vs. PIT - Volatility Comparison

The current volatility for Infrastructure Capital Bond Income ETF (BNDS) is 0.78%, while VanEck Commodity Strategy ETF (PIT) has a volatility of 4.96%. This indicates that BNDS 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

	BNDS	PIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.78%	4.96%	-4.18%
Volatility (6M) Calculated over the trailing 6-month period	2.72%	19.37%	-16.65%
Volatility (1Y) Calculated over the trailing 1-year period	3.50%	21.60%	-18.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.21%	17.50%	-12.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.21%	17.50%	-12.29%

BNDS vs. PIT - Expense Ratio Comparison

BNDS has a 0.81% expense ratio, which is higher than PIT's 0.55% expense ratio.

Dividends

BNDS vs. PIT - Dividend Comparison

BNDS's dividend yield for the trailing twelve months is around 7.93%, more than PIT's 6.95% yield.

Position	TTM	2025	2024	2023
BNDS Infrastructure Capital Bond Income ETF	7.93%	7.98%	0.00%	0.00%
PIT VanEck Commodity Strategy ETF	6.95%	8.92%	3.59%	6.44%

Frequently Asked Questions

Can I hold both BNDS and PIT in my portfolio?

BNDS and PIT have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BNDS or PIT?

PIT has higher volatility (4.96%) compared to BNDS (0.78%). In terms of maximum drawdown, BNDS dropped -6.96% vs PIT's -13.74%.

Which ETF is better, BNDS or PIT?

On 1-year performance, PIT leads with 39.38% vs 11.57% for BNDS. On fees, PIT is cheaper at 0.55% per year. On volatility, BNDS has been the lower-risk option at 0.78%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BNDS or PIT?

Over the 1-year period, PIT has performed better with a 39.38% return vs 11.57%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BNDS or PIT?

PIT is cheaper with a 0.55% expense ratio, compared with 0.81% for BNDS.

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

BNDS has the higher dividend yield at 7.93%, compared with 6.95% for PIT.

What is the main difference between BNDS and PIT?

BNDS is categorized as Intermediate Core-Plus Bond, while PIT is Commodities. They also come from different issuers: InfraCap and VanEck. Their fees differ too: 0.81% for BNDS and 0.55% for PIT.

Which has better risk-adjusted returns?

BNDS currently has the higher Sharpe Ratio (3.40 vs 1.83), 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.