FIBR vs. BNDI

Last updated Jun 4, 2026

FIBR (iShares U.S. Fixed Income Balanced Risk Systematic ETF) and BNDI (Neos Enhanced Income Aggregate Bond ETF) are both Intermediate Core-Plus Bond funds. FIBR is passively managed, while BNDI is actively managed. Over the past 3 years, FIBR returned 6.70%/yr vs 4.83%/yr for BNDI. Their correlation of 0.87 suggests significant overlap in exposure. FIBR charges 0.25%/yr vs 0.58%/yr for BNDI.

Performance

FIBR vs. BNDI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares U.S. Fixed Income Balanced Risk Systematic ETF (FIBR) 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, FIBR achieves a 0.06% return, which is significantly lower than BNDI's 1.29% return.

FIBR

• 1D: -0.27%
• 1M: 0.22%
• YTD: 0.06%
• 6M: -0.05%
• 1Y: 5.34%
• 3Y*: 6.70%
• 5Y*: 1.54%
• 10Y*: 2.28%

BNDI

• 1D: -0.21%
• 1M: 0.36%
• YTD: 1.29%
• 6M: 1.22%
• 1Y: 7.00%
• 3Y*: 4.83%
• 5Y*: —
• 10Y*: —

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

FIBR vs. BNDI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
FIBR iShares U.S. Fixed Income Balanced Risk Systematic ETF	0.06%	8.32%	6.04%	8.22%	-1.50%
BNDI Neos Enhanced Income Aggregate Bond ETF	1.29%	7.95%	1.74%	6.89%	-2.60%

Correlation

The correlation between FIBR and BNDI is 0.87, 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	0.87
Correlation (3Y) Calculated over the trailing 3-year period	0.84
Correlation (All Time) Calculated using the full available price history since Aug 31, 2022	0.87

The correlation between FIBR and BNDI has been stable across timeframes, ranging from 0.84 to 0.87 - a consistent structural relationship.

FIBR vs. BNDI - Sectors Allocation Comparison

Sectors	FIBR	BNDI
Energy	100.0%	3.5%
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%
Real Estate	-	1.9%
Technology	-	35.6%
Utilities	-	2.4%

Return for Risk

FIBR vs. BNDI — Risk / Return Rank

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

FIBR

FIBR Risk / Return Rank: 38
FIBR Sharpe Ratio Rank: 39
FIBR Sortino Ratio Rank: 39
FIBR Omega Ratio Rank: 39
FIBR Calmar Ratio Rank: 36
FIBR Martin Ratio Rank: 36

BNDI

BNDI Risk / Return Rank: 50
BNDI Sharpe Ratio Rank: 48
BNDI Sortino Ratio Rank: 52
BNDI Omega Ratio Rank: 47
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.

FIBR vs. BNDI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Fixed Income Balanced Risk Systematic ETF (FIBR) 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.

	FIBR	BNDI	Difference
Sharpe ratio: Return per unit of total volatility	1.41	1.69	-0.28
Sortino ratio: Return per unit of downside risk	2.02	2.54	-0.52
Omega ratio: Gain probability vs. loss probability	1.26	1.30	-0.05
Calmar ratio: Return relative to maximum drawdown	1.79	2.56	-0.76
Martin ratio: Return relative to average drawdown	5.50	9.12	-3.62
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FIBR vs. BNDI - Sharpe Ratio Comparison

The current FIBR Sharpe Ratio is 1.41, which is comparable to the BNDI Sharpe Ratio of 1.69. The chart below compares the historical Sharpe Ratios of FIBR 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

	FIBR	BNDI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.41	1.69	-0.28
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.27	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.46	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.50	0.65	-0.15

Drawdowns

FIBR vs. BNDI - Drawdown Comparison

The maximum FIBR drawdown since its inception was -18.47%, which is greater than BNDI's maximum drawdown of -6.98%. Use the drawdown chart below to compare losses from any high point for FIBR and BNDI.

Drawdown Indicators

	FIBR	BNDI	Difference
Max Drawdown Largest peak-to-trough decline	-18.47%	-6.98%	-11.49%
Max Drawdown (1Y) Largest decline over 1 year	-2.99%	-2.75%	-0.24%
Max Drawdown (3Y) Largest decline over 3 years	-3.08%	-5.83%	+2.75%
Max Drawdown (5Y) Largest decline over 5 years	-18.47%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-18.47%	—	—
Current Drawdown Current decline from peak	-1.79%	-0.84%	-0.95%
Average Drawdown Average peak-to-trough decline	-3.27%	-1.71%	-1.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.97%	0.77%	+0.20%

Volatility

FIBR vs. BNDI - Volatility Comparison

iShares U.S. Fixed Income Balanced Risk Systematic ETF (FIBR) and Neos Enhanced Income Aggregate Bond ETF (BNDI) have volatilities of 1.40% and 1.38%, 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

	FIBR	BNDI	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.40%	1.38%	+0.02%
Volatility (6M) Calculated over the trailing 6-month period	3.10%	3.08%	+0.02%
Volatility (1Y) Calculated over the trailing 1-year period	3.80%	4.17%	-0.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.63%	6.19%	-0.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.95%	6.19%	-1.24%

FIBR vs. BNDI - Expense Ratio Comparison

FIBR has a 0.25% expense ratio, which is lower than BNDI's 0.58% expense ratio.

Dividends

FIBR vs. BNDI - Dividend Comparison

FIBR's dividend yield for the trailing twelve months is around 4.62%, less than BNDI's 5.80% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BNDI Neos Enhanced Income Aggregate Bond ETF	5.80%	5.69%	5.54%	5.17%	1.68%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FIBR iShares U.S. Fixed Income Balanced Risk Systematic ETF	4.62%	4.78%	5.04%	4.44%	3.27%	1.92%	2.57%	3.27%	3.61%	2.74%	2.92%	2.26%

Frequently Asked Questions

Can I hold both FIBR and BNDI in my portfolio?

FIBR and BNDI have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FIBR or BNDI?

FIBR has higher volatility (1.40%) compared to BNDI (1.38%). In terms of maximum drawdown, FIBR dropped -18.47% vs BNDI's -6.98%.

Which ETF is better, FIBR or BNDI?

On 3-year performance, FIBR leads with 6.70% vs 4.83% for BNDI. On fees, FIBR is cheaper at 0.25% 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, FIBR or BNDI?

Over the 3-year period, FIBR has performed better with a 6.70% return vs 4.83%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FIBR or BNDI?

FIBR is cheaper with a 0.25% expense ratio, compared with 0.58% for BNDI.

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

BNDI has the higher dividend yield at 5.80%, compared with 4.62% for FIBR.

What is the main difference between FIBR and BNDI?

They also come from different issuers: iShares and Neos. Their fees differ too: 0.25% for FIBR and 0.58% for BNDI.

Which has better risk-adjusted returns?

BNDI currently has the higher Sharpe Ratio (1.69 vs 1.41), 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.