DUKZ vs. HYBI

Last updated Jun 23, 2026

DUKZ (Ocean Park Diversified Income ETF) and HYBI (NEOS Enhanced Income Credit Select ETF) are both Nontraditional Bonds funds. Both are actively managed. Over the past year, DUKZ returned 7.99% vs 6.93% for HYBI. A 0.74 correlation means they provide meaningful diversification when combined. DUKZ charges 1.03%/yr vs 0.68%/yr for HYBI.

Performance

DUKZ vs. HYBI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Ocean Park Diversified Income ETF (DUKZ) and NEOS Enhanced Income Credit Select ETF (HYBI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DUKZ achieves a 2.81% return, which is significantly higher than HYBI's 1.79% return.

DUKZ

• 1D: -0.37%
• 1M: 1.27%
• YTD: 2.81%
• 6M: 2.86%
• 1Y: 7.99%
• 3Y*: —
• 5Y*: —
• 10Y*: —

HYBI

• 1D: -0.10%
• 1M: 0.47%
• YTD: 1.79%
• 6M: 2.12%
• 1Y: 6.93%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DUKZ vs. HYBI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
DUKZ Ocean Park Diversified Income ETF	2.81%	4.24%	-1.34%
HYBI NEOS Enhanced Income Credit Select ETF	1.79%	6.97%	-0.53%

Correlation

The correlation between DUKZ and HYBI is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.77
Correlation (All Time) Calculated using the full available price history since Sep 30, 2024	0.74

The correlation between DUKZ and HYBI has been stable across timeframes, ranging from 0.74 to 0.77 - a consistent structural relationship.

Return for Risk

DUKZ vs. HYBI — Risk / Return Rank

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

DUKZ

DUKZ Risk / Return Rank: 52
DUKZ Sharpe Ratio Rank: 52
DUKZ Sortino Ratio Rank: 52
DUKZ Omega Ratio Rank: 55
DUKZ Calmar Ratio Rank: 49
DUKZ Martin Ratio Rank: 52

HYBI

HYBI Risk / Return Rank: 76
HYBI Sharpe Ratio Rank: 65
HYBI Sortino Ratio Rank: 73
HYBI Omega Ratio Rank: 71
HYBI Calmar Ratio Rank: 88
HYBI Martin Ratio Rank: 81

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.

DUKZ vs. HYBI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Ocean Park Diversified Income ETF (DUKZ) and NEOS Enhanced Income Credit Select ETF (HYBI). 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.

	DUKZ	HYBI	Difference
Sharpe ratio: Return per unit of total volatility	1.74	2.07	-0.33
Sortino ratio: Return per unit of downside risk	2.44	3.16	-0.72
Omega ratio: Gain probability vs. loss probability	1.33	1.40	-0.07
Calmar ratio: Return relative to maximum drawdown	2.37	4.87	-2.50
Martin ratio: Return relative to average drawdown	8.57	15.63	-7.07

DUKZ vs. HYBI - Sharpe Ratio Comparison

The current DUKZ Sharpe Ratio is 1.74, which is comparable to the HYBI Sharpe Ratio of 2.07. The chart below compares the historical Sharpe Ratios of DUKZ and HYBI, 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

DUKZ vs. HYBI - Drawdown Comparison

The maximum DUKZ drawdown since its inception was -4.70%, roughly equal to the maximum HYBI drawdown of -4.68%. Use the drawdown chart below to compare losses from any high point for DUKZ and HYBI.

Drawdown Indicators

	DUKZ	HYBI	Difference
Max Drawdown Largest peak-to-trough decline	-4.70%	-4.68%	-0.02%
Max Drawdown (1Y) Largest decline over 1 year	-3.39%	-1.43%	-1.96%
Current Drawdown Current decline from peak	-0.37%	-0.17%	-0.20%
Average Drawdown Average peak-to-trough decline	-1.13%	-0.61%	-0.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.93%	0.44%	+0.49%

Volatility

DUKZ vs. HYBI - Volatility Comparison

Ocean Park Diversified Income ETF (DUKZ) has a higher volatility of 2.06% compared to NEOS Enhanced Income Credit Select ETF (HYBI) at 1.28%. This indicates that DUKZ's price experiences larger fluctuations and is considered to be riskier than HYBI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DUKZ	HYBI	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.06%	1.28%	+0.78%
Volatility (6M) Calculated over the trailing 6-month period	4.00%	2.37%	+1.63%
Volatility (1Y) Calculated over the trailing 1-year period	4.62%	3.37%	+1.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.43%	4.95%	-0.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.43%	4.95%	-0.52%

DUKZ vs. HYBI - Expense Ratio Comparison

DUKZ has a 1.03% expense ratio, which is higher than HYBI's 0.68% expense ratio.

Dividends

DUKZ vs. HYBI - Dividend Comparison

DUKZ's dividend yield for the trailing twelve months is around 3.81%, less than HYBI's 9.08% yield.

Position	TTM	2025	2024
DUKZ Ocean Park Diversified Income ETF	3.81%	4.05%	2.44%
HYBI NEOS Enhanced Income Credit Select ETF	9.08%	8.48%	2.21%

Frequently Asked Questions

Can I hold both DUKZ and HYBI in my portfolio?

DUKZ and HYBI have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DUKZ or HYBI?

DUKZ has higher volatility (2.06%) compared to HYBI (1.28%). In terms of maximum drawdown, DUKZ dropped -4.70% vs HYBI's -4.68%.

Which ETF is better, DUKZ or HYBI?

On 1-year performance, DUKZ leads with 7.99% vs 6.93% for HYBI. On fees, HYBI is cheaper at 0.68% per year. On volatility, HYBI has been the lower-risk option at 1.28%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DUKZ or HYBI?

Over the 1-year period, DUKZ has performed better with a 7.99% return vs 6.93%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DUKZ or HYBI?

HYBI is cheaper with a 0.68% expense ratio, compared with 1.03% for DUKZ.

Which ETF pays a higher dividend yield, DUKZ or HYBI?

HYBI has the higher dividend yield at 9.08%, compared with 3.81% for DUKZ.

What is the main difference between DUKZ and HYBI?

They also come from different issuers: Ocean Park and Neos. Their fees differ too: 1.03% for DUKZ and 0.68% for HYBI.

Which has better risk-adjusted returns?

HYBI currently has the higher Sharpe Ratio (2.07 vs 1.74), 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.