BYLD vs. BNDI
BYLD (iShares Yield Optimized Bond ETF) and BNDI (Neos Enhanced Income Aggregate Bond ETF) are both Intermediate Core-Plus Bond funds. BYLD is passively managed, while BNDI is actively managed. Over the past 3 years, BYLD returned 6.54%/yr vs 4.85%/yr for BNDI. Their correlation of 0.87 suggests significant overlap in exposure. BYLD charges 0.17%/yr vs 0.58%/yr for BNDI.
Performance
BYLD vs. BNDI - Performance Comparison
Loading charts...
Returns By Period
As of year-to-date, both investments have demonstrated similar returns, with BYLD at 1.50% and BNDI at 1.50%.
BYLD
- 1D
- 0.04%
- 1M
- 0.88%
- YTD
- 1.50%
- 6M
- 1.48%
- 1Y
- 6.22%
- 3Y*
- 6.54%
- 5Y*
- 2.21%
- 10Y*
- 2.97%
BNDI
- 1D
- 0.00%
- 1M
- 0.63%
- YTD
- 1.50%
- 6M
- 1.56%
- 1Y
- 6.13%
- 3Y*
- 4.85%
- 5Y*
- —
- 10Y*
- —
BYLD vs. BNDI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
BYLD iShares Yield Optimized Bond ETF | 1.50% | 8.41% | 4.17% | 8.30% | -0.59% |
BNDI Neos Enhanced Income Aggregate Bond ETF | 1.50% | 7.95% | 1.74% | 6.89% | -2.88% |
Correlation
The correlation between BYLD and BNDI is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.82 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.88 |
Correlation (All Time) Calculated using the full available price history since Aug 30, 2022 | 0.87 |
The correlation between BYLD and BNDI has been stable across timeframes, ranging from 0.82 to 0.88 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
BYLD vs. BNDI — Risk / Return Rank
BYLD
BNDI
BYLD vs. BNDI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Yield Optimized Bond ETF (BYLD) and Neos Enhanced Income Aggregate Bond ETF (BNDI). 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.
| BYLD | BNDI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.17 | ||
| Sortino ratioReturn per unit of downside risk | +0.21 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.26 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.30 | 2.24 | +0.06 |
| Martin ratioReturn relative to average drawdown | 9.29 | 7.76 | +1.53 |
Loading charts...
Drawdowns
BYLD vs. BNDI - Drawdown Comparison
The maximum BYLD drawdown since its inception was -14.75%, which is greater than BNDI's maximum drawdown of -7.25%. Use the drawdown chart below to compare losses from any high point for BYLD and BNDI.
Loading charts...
Drawdown Indicators
| BYLD | BNDI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.75% | -7.25% | -7.50% |
Max Drawdown (1Y)Largest decline over 1 year | -2.71% | -2.75% | +0.04% |
Max Drawdown (3Y)Largest decline over 3 years | -3.94% | -5.83% | +1.89% |
Max Drawdown (5Y)Largest decline over 5 years | -14.65% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -14.75% | — | — |
Current DrawdownCurrent decline from peak | -0.13% | -0.64% | +0.51% |
Average DrawdownAverage peak-to-trough decline | -2.50% | -1.72% | -0.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.67% | 0.79% | -0.12% |
Volatility
BYLD vs. BNDI - Volatility Comparison
The current volatility for iShares Yield Optimized Bond ETF (BYLD) is 1.13%, while Neos Enhanced Income Aggregate Bond ETF (BNDI) has a volatility of 1.43%. This indicates that BYLD experiences smaller price fluctuations and is considered to be less risky than BNDI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| BYLD | BNDI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.13% | 1.43% | -0.30% |
Volatility (6M)Calculated over the trailing 6-month period | 3.06% | 3.28% | -0.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.85% | 4.25% | -0.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.21% | 6.18% | -0.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.43% | 6.18% | -0.75% |
BYLD vs. BNDI - Expense Ratio Comparison
BYLD has a 0.17% expense ratio, which is lower than BNDI's 0.58% expense ratio.
Dividends
BYLD vs. BNDI - Dividend Comparison
BYLD's dividend yield for the trailing twelve months is around 5.35%, less than BNDI's 6.30% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BNDI Neos Enhanced Income Aggregate Bond ETF | 6.30% | 5.69% | 5.54% | 5.17% | 1.68% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
BYLD iShares Yield Optimized Bond ETF | 5.35% | 5.32% | 5.31% | 4.45% | 3.39% | 2.18% | 3.41% | 3.67% | 4.22% | 3.22% | 3.14% | 3.37% |
Frequently Asked Questions
BYLD and BNDI have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BNDI has higher volatility (1.43%) compared to BYLD (1.13%). In terms of maximum drawdown, BYLD dropped -14.75% vs BNDI's -7.25%.
On 3-year performance, BYLD leads with 6.54% vs 4.85% for BNDI. On fees, BYLD is cheaper at 0.17% per year. On volatility, BYLD has been the lower-risk option at 1.13%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, BYLD has performed better with a 6.54% return vs 4.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BYLD is cheaper with a 0.17% expense ratio, compared with 0.58% for BNDI.
BNDI has the higher dividend yield at 6.30%, compared with 5.35% for BYLD.
They also come from different issuers: iShares and Neos. Their fees differ too: 0.17% for BYLD and 0.58% for BNDI.
BYLD currently has the higher Sharpe Ratio (1.62 vs 1.45), 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.
Find the right allocation for BYLD and BNDI
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer