HYBI vs. AMAX

Last updated Apr 2, 2026

Compare and contrast key facts about NEOS Enhanced Income Credit Select ETF (HYBI) and RH Hedged Multi-Asset Income ETF (AMAX).

HYBI and AMAX are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. HYBI is an actively managed fund by Neos. It was launched on Sep 27, 2024. AMAX is an actively managed fund by Adaptive. It was launched on Oct 2, 2009.

Performance

HYBI vs. AMAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in NEOS Enhanced Income Credit Select ETF (HYBI) and RH Hedged Multi-Asset Income ETF (AMAX). The values are adjusted to include any dividend payments, if applicable.

HYBI vs. AMAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
HYBI NEOS Enhanced Income Credit Select ETF	0.31%	6.97%	-0.48%
AMAX RH Hedged Multi-Asset Income ETF	0.90%	11.38%	-1.97%

Returns By Period

In the year-to-date period, HYBI achieves a 0.31% return, which is significantly lower than AMAX's 0.90% return.

HYBI

• 1D: -0.00%
• 1M: -0.57%
• YTD: 0.31%
• 6M: 1.46%
• 1Y: 7.36%
• 3Y*: —
• 5Y*: —
• 10Y*: —

AMAX

• 1D: 0.72%
• 1M: -4.72%
• YTD: 0.90%
• 6M: -0.88%
• 1Y: 14.84%
• 3Y*: 8.46%
• 5Y*: —
• 10Y*: —

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

HYBI vs. AMAX - Expense Ratio Comparison

HYBI has a 0.68% expense ratio, which is lower than AMAX's 1.29% expense ratio.

AMAX

RH Hedged Multi-Asset Income ETF

HYBI

NEOS Enhanced Income Credit Select ETF

Return for Risk

HYBI vs. AMAX — Risk / Return Rank

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

HYBI

HYBI Risk / Return Rank: 81
HYBI Sharpe Ratio Rank: 72
HYBI Sortino Ratio Rank: 76
HYBI Omega Ratio Rank: 87
HYBI Calmar Ratio Rank: 82
HYBI Martin Ratio Rank: 89

AMAX

AMAX Risk / Return Rank: 68
AMAX Sharpe Ratio Rank: 71
AMAX Sortino Ratio Rank: 69
AMAX Omega Ratio Rank: 63
AMAX Calmar Ratio Rank: 74
AMAX Martin Ratio Rank: 62

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.

HYBI vs. AMAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NEOS Enhanced Income Credit Select ETF (HYBI) and RH Hedged Multi-Asset Income ETF (AMAX). 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.

	HYBI	AMAX	Difference
Sharpe ratio Return per unit of total volatility	1.33	1.32	+0.01
Sortino ratio Return per unit of downside risk	2.01	1.81	+0.19
Omega ratio Gain probability vs. loss probability	1.36	1.24	+0.12
Calmar ratio Return relative to maximum drawdown	2.49	2.08	+0.41
Martin ratio Return relative to average drawdown	12.04	6.57	+5.47
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HYBI vs. AMAX - Sharpe Ratio Comparison

The current HYBI Sharpe Ratio is 1.33, which is comparable to the AMAX Sharpe Ratio of 1.32. The chart below compares the historical Sharpe Ratios of HYBI and AMAX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	HYBI	AMAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.33	1.32	+0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.88	0.31	+0.57

Correlation

The correlation between HYBI and AMAX is 0.38, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

HYBI vs. AMAX - Dividend Comparison

HYBI's dividend yield for the trailing twelve months is around 8.37%, less than AMAX's 10.50% yield.

	TTM	2025	2024	2023	2022	2021
HYBI NEOS Enhanced Income Credit Select ETF	8.37%	8.48%	2.21%	0.00%	0.00%	0.00%
AMAX RH Hedged Multi-Asset Income ETF	10.50%	9.18%	7.36%	6.99%	11.22%	1.00%

Drawdowns

HYBI vs. AMAX - Drawdown Comparison

The maximum HYBI drawdown since its inception was -4.68%, smaller than the maximum AMAX drawdown of -16.28%. Use the drawdown chart below to compare losses from any high point for HYBI and AMAX.

Drawdown Indicators

	HYBI	AMAX	Difference
Max Drawdown Largest peak-to-trough decline	-4.68%	-16.28%	+11.60%
Max Drawdown (1Y) Largest decline over 1 year	-3.07%	-7.53%	+4.46%
Current Drawdown Current decline from peak	-0.96%	-5.39%	+4.43%
Average Drawdown Average peak-to-trough decline	-0.66%	-5.44%	+4.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.63%	2.38%	-1.75%

Volatility

HYBI vs. AMAX - Volatility Comparison

The current volatility for NEOS Enhanced Income Credit Select ETF (HYBI) is 1.14%, while RH Hedged Multi-Asset Income ETF (AMAX) has a volatility of 3.97%. This indicates that HYBI experiences smaller price fluctuations and is considered to be less risky than AMAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HYBI	AMAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.14%	3.97%	-2.83%
Volatility (6M) Calculated over the trailing 6-month period	2.44%	8.16%	-5.72%
Volatility (1Y) Calculated over the trailing 1-year period	5.56%	11.31%	-5.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.10%	10.38%	-5.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.10%	10.38%	-5.28%