FIXD vs. BNDI

Last updated Jun 5, 2026

FIXD (First Trust Smith Opportunistic Fixed Income ETF) and BNDI (Neos Enhanced Income Aggregate Bond ETF) are both Intermediate Core-Plus Bond funds. Both are actively managed. Over the past 3 years, FIXD returned 3.90%/yr vs 4.89%/yr for BNDI. Their correlation of 0.95 suggests significant overlap in exposure. FIXD charges 0.65%/yr vs 0.58%/yr for BNDI.

Performance

FIXD vs. BNDI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Smith Opportunistic Fixed Income ETF (FIXD) 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, FIXD achieves a 0.28% return, which is significantly lower than BNDI's 1.46% return.

FIXD

• 1D: 0.11%
• 1M: 0.34%
• YTD: 0.28%
• 6M: 0.18%
• 1Y: 5.07%
• 3Y*: 3.90%
• 5Y*: -0.33%
• 10Y*: —

BNDI

• 1D: 0.17%
• 1M: 0.31%
• YTD: 1.46%
• 6M: 1.61%
• 1Y: 6.66%
• 3Y*: 4.89%
• 5Y*: —
• 10Y*: —

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

FIXD vs. BNDI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
FIXD First Trust Smith Opportunistic Fixed Income ETF	0.28%	7.95%	0.75%	5.72%	-3.50%
BNDI Neos Enhanced Income Aggregate Bond ETF	1.46%	7.95%	1.74%	6.89%	-2.60%

Correlation

The correlation between FIXD and BNDI is 0.93, 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	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (All Time) Calculated using the full available price history since Aug 31, 2022	0.95

The correlation between FIXD and BNDI has been stable across timeframes, ranging from 0.93 to 0.95 - a consistent structural relationship.

FIXD vs. BNDI - Sectors Allocation Comparison

Sectors	FIXD	BNDI
Utilities	100.0%	2.4%
Basic Materials	-	1.8%
Communication Services	-	11.2%
Consumer Cyclical	-	10.1%
Consumer Defensive	-	4.9%
Energy	-	3.5%
Financial Services	-	11.8%
Healthcare	-	8.5%
Industrials	-	8.3%
Real Estate	-	1.9%
Technology	-	35.6%

Return for Risk

FIXD vs. BNDI — Risk / Return Rank

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

FIXD

FIXD Risk / Return Rank: 33
FIXD Sharpe Ratio Rank: 35
FIXD Sortino Ratio Rank: 34
FIXD Omega Ratio Rank: 32
FIXD Calmar Ratio Rank: 33
FIXD Martin Ratio Rank: 32

BNDI

BNDI Risk / Return Rank: 49
BNDI Sharpe Ratio Rank: 47
BNDI Sortino Ratio Rank: 51
BNDI Omega Ratio Rank: 46
BNDI Calmar Ratio Rank: 50
BNDI Martin Ratio Rank: 52

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.

FIXD vs. BNDI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Smith Opportunistic Fixed Income ETF (FIXD) 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.

	FIXD	BNDI	Difference
Sharpe ratio: Return per unit of total volatility	1.22	1.61	-0.39
Sortino ratio: Return per unit of downside risk	1.79	2.42	-0.63
Omega ratio: Gain probability vs. loss probability	1.21	1.29	-0.08
Calmar ratio: Return relative to maximum drawdown	1.59	2.43	-0.84
Martin ratio: Return relative to average drawdown	4.76	8.67	-3.91
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FIXD vs. BNDI - Sharpe Ratio Comparison

The current FIXD Sharpe Ratio is 1.22, which is comparable to the BNDI Sharpe Ratio of 1.61. The chart below compares the historical Sharpe Ratios of FIXD 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

	FIXD	BNDI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.22	1.61	-0.39
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.05	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.35	0.66	-0.30

Drawdowns

FIXD vs. BNDI - Drawdown Comparison

The maximum FIXD drawdown since its inception was -20.44%, which is greater than BNDI's maximum drawdown of -6.98%. Use the drawdown chart below to compare losses from any high point for FIXD and BNDI.

Drawdown Indicators

	FIXD	BNDI	Difference
Max Drawdown Largest peak-to-trough decline	-20.44%	-6.98%	-13.46%
Max Drawdown (1Y) Largest decline over 1 year	-3.21%	-2.75%	-0.46%
Max Drawdown (3Y) Largest decline over 3 years	-6.97%	-5.83%	-1.14%
Max Drawdown (5Y) Largest decline over 5 years	-20.44%	—	—
Current Drawdown Current decline from peak	-3.44%	-0.67%	-2.77%
Average Drawdown Average peak-to-trough decline	-5.50%	-1.71%	-3.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.07%	0.77%	+0.30%

Volatility

FIXD vs. BNDI - Volatility Comparison

First Trust Smith Opportunistic Fixed Income ETF (FIXD) has a higher volatility of 1.62% compared to Neos Enhanced Income Aggregate Bond ETF (BNDI) at 1.37%. This indicates that FIXD's price experiences larger fluctuations and is considered to be riskier than BNDI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FIXD	BNDI	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.62%	1.37%	+0.25%
Volatility (6M) Calculated over the trailing 6-month period	3.13%	3.08%	+0.05%
Volatility (1Y) Calculated over the trailing 1-year period	4.21%	4.17%	+0.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.58%	6.19%	+0.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.83%	6.19%	-0.36%

FIXD vs. BNDI - Expense Ratio Comparison

FIXD has a 0.65% expense ratio, which is higher than BNDI's 0.58% expense ratio.

Dividends

FIXD vs. BNDI - Dividend Comparison

FIXD's dividend yield for the trailing twelve months is around 4.69%, less than BNDI's 5.79% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
FIXD First Trust Smith Opportunistic Fixed Income ETF	4.69%	4.50%	4.56%	3.93%	3.07%	1.74%	3.14%	5.10%	2.81%	1.95%

Frequently Asked Questions

Can I hold both FIXD and BNDI in my portfolio?

With a correlation of 0.93, FIXD and BNDI move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, FIXD or BNDI?

FIXD has higher volatility (1.62%) compared to BNDI (1.37%). In terms of maximum drawdown, FIXD dropped -20.44% vs BNDI's -6.98%.

Which ETF is better, FIXD or BNDI?

On 3-year performance, BNDI leads with 4.89% vs 3.90% for FIXD. On fees, BNDI is cheaper at 0.58% per year. On volatility, BNDI has been the lower-risk option at 1.37%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FIXD or BNDI?

Over the 3-year period, BNDI has performed better with a 4.89% return vs 3.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FIXD or BNDI?

BNDI is cheaper with a 0.58% expense ratio, compared with 0.65% for FIXD.

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

BNDI has the higher dividend yield at 5.79%, compared with 4.69% for FIXD.

What is the main difference between FIXD and BNDI?

They also come from different issuers: First Trust and Neos. Their fees differ too: 0.65% for FIXD and 0.58% for BNDI.

Which has better risk-adjusted returns?

BNDI currently has the higher Sharpe Ratio (1.61 vs 1.22), 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.