BYLD vs. BNDI

Last updated Jun 3, 2026

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 6.56%/yr vs 4.90%/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

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Yield Optimized Bond ETF (BYLD) and Neos Enhanced Income Aggregate Bond ETF (BNDI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BYLD achieves a 1.41% return, which is significantly lower than BNDI's 1.51% return.

BYLD

• 1D: 0.08%
• 1M: 0.49%
• YTD: 1.41%
• 6M: 1.62%
• 1Y: 7.32%
• 3Y*: 6.56%
• 5Y*: 2.32%
• 10Y*: 3.03%

BNDI

• 1D: -0.02%
• 1M: 0.22%
• YTD: 1.51%
• 6M: 1.59%
• 1Y: 7.31%
• 3Y*: 4.90%
• 5Y*: —
• 10Y*: —

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

BYLD vs. BNDI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
BYLD iShares Yield Optimized Bond ETF	1.41%	8.41%	4.17%	8.30%	-0.43%
BNDI Neos Enhanced Income Aggregate Bond ETF	1.51%	7.95%	1.74%	6.89%	-2.60%

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 31, 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.

BYLD vs. BNDI - Sectors Allocation Comparison

Sectors	BYLD	BNDI
Energy	99.2%	3.5%
Real Estate	0.8%	1.9%
Basic Materials	-	1.8%
Communication Services	-	11.2%
Consumer Cyclical	-	10.1%
Consumer Defensive	-	4.9%
Financial Services	-	11.8%
Healthcare	-	8.5%
Industrials	-	8.3%
Technology	-	35.6%
Utilities	-	2.4%

Return for Risk

BYLD vs. BNDI — Risk / Return Rank

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

BYLD

BYLD Risk / Return Rank: 57
BYLD Sharpe Ratio Rank: 56
BYLD Sortino Ratio Rank: 61
BYLD Omega Ratio Rank: 59
BYLD Calmar Ratio Rank: 52
BYLD Martin Ratio Rank: 60

BNDI

BNDI Risk / Return Rank: 52
BNDI Sharpe Ratio Rank: 51
BNDI Sortino Ratio Rank: 55
BNDI Omega Ratio Rank: 51
BNDI Calmar Ratio Rank: 51
BNDI Martin Ratio Rank: 53

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.

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.

	BYLD	BNDI	Difference
Sharpe ratio Return per unit of total volatility	1.93	1.76	+0.16
Sortino ratio Return per unit of downside risk	2.88	2.65	+0.23
Omega ratio Gain probability vs. loss probability	1.36	1.32	+0.05
Calmar ratio Return relative to maximum drawdown	2.64	2.59	+0.05
Martin ratio Return relative to average drawdown	10.73	9.27	+1.47
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BYLD vs. BNDI - Sharpe Ratio Comparison

The current BYLD Sharpe Ratio is 1.93, which is comparable to the BNDI Sharpe Ratio of 1.76. The chart below compares the historical Sharpe Ratios of BYLD and BNDI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BYLD	BNDI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.93	1.76	+0.16
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.45	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.56	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.57	0.66	-0.09

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 -6.98%. Use the drawdown chart below to compare losses from any high point for BYLD and BNDI.

Drawdown Indicators

	BYLD	BNDI	Difference
Max Drawdown Largest peak-to-trough decline	-14.75%	-6.98%	-7.77%
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 Drawdown Current decline from peak	-0.16%	-0.63%	+0.47%
Average Drawdown Average peak-to-trough decline	-2.51%	-1.71%	-0.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.67%	0.77%	-0.10%

Volatility

BYLD vs. BNDI - Volatility Comparison

iShares Yield Optimized Bond ETF (BYLD) and Neos Enhanced Income Aggregate Bond ETF (BNDI) have volatilities of 1.44% and 1.41%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BYLD	BNDI	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.44%	1.41%	+0.03%
Volatility (6M) Calculated over the trailing 6-month period	2.96%	3.11%	-0.15%
Volatility (1Y) Calculated over the trailing 1-year period	3.82%	4.17%	-0.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.20%	6.19%	-0.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.43%	6.19%	-0.76%

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 5.80%, which matches BNDI's 5.79% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BNDI Neos Enhanced Income Aggregate Bond ETF	5.79%	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	5.80%	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

Can I hold both BYLD and BNDI in my portfolio?

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.

Which is riskier, BYLD or BNDI?

BYLD has higher volatility (1.44%) compared to BNDI (1.41%). In terms of maximum drawdown, BYLD dropped -14.75% vs BNDI's -6.98%.

Which ETF is better, BYLD or BNDI?

On 3-year performance, BYLD leads with 6.56% vs 4.90% for BNDI. On fees, BYLD is cheaper at 0.17% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BYLD or BNDI?

Over the 3-year period, BYLD has performed better with a 6.56% return vs 4.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BYLD or BNDI?

BYLD is cheaper with a 0.17% expense ratio, compared with 0.58% for BNDI.

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

BYLD has the higher dividend yield at 5.80%, compared with 5.79% for BNDI.

What is the main difference between BYLD and BNDI?

They also come from different issuers: iShares and Neos. Their fees differ too: 0.17% for BYLD and 0.58% for BNDI.

Which has better risk-adjusted returns?

BYLD currently has the higher Sharpe Ratio (1.93 vs 1.76), 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.