HYBI vs. BNDI

Last updated Jun 3, 2026

HYBI (NEOS Enhanced Income Credit Select ETF) and BNDI (Neos Enhanced Income Aggregate Bond ETF) are both exchange-traded funds - HYBI is a Nontraditional Bonds fund actively managed by Neos, while BNDI is a Intermediate Core-Plus Bond fund actively managed by Neos. Both are actively managed. Over the past year, HYBI returned 7.95% vs 7.31% for BNDI. A 0.58 correlation means they provide meaningful diversification when combined. HYBI charges 0.68%/yr vs 0.58%/yr for BNDI.

Performance

HYBI vs. BNDI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in NEOS Enhanced Income Credit Select ETF (HYBI) 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, HYBI achieves a 1.81% return, which is significantly higher than BNDI's 1.51% return.

HYBI

• 1D: 0.16%
• 1M: 0.27%
• YTD: 1.81%
• 6M: 2.45%
• 1Y: 7.95%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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)

HYBI vs. BNDI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
HYBI NEOS Enhanced Income Credit Select ETF	1.81%	6.97%	-0.48%
BNDI Neos Enhanced Income Aggregate Bond ETF	1.51%	7.95%	-2.77%

Correlation

The correlation between HYBI and BNDI is 0.59, 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	0.59
Correlation (All Time) Calculated using the full available price history since Oct 1, 2024	0.58

The correlation between HYBI and BNDI has been stable across timeframes, ranging from 0.58 to 0.59 - a consistent structural relationship.

HYBI vs. BNDI - Sectors Allocation Comparison

Sectors	HYBI	BNDI
Technology	35.6%	35.6%
Financial Services	11.8%	11.8%
Communication Services	11.2%	11.2%
Consumer Cyclical	10.1%	10.1%
Healthcare	8.5%	8.5%
Industrials	8.3%	8.3%
Consumer Defensive	4.9%	4.9%
Energy	3.6%	3.5%
Utilities	2.3%	2.4%
Real Estate	1.9%	1.9%
Basic Materials	1.8%	1.8%

Return for Risk

HYBI vs. BNDI — Risk / Return Rank

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

HYBI

HYBI Risk / Return Rank: 83
HYBI Sharpe Ratio Rank: 75
HYBI Sortino Ratio Rank: 84
HYBI Omega Ratio Rank: 80
HYBI Calmar Ratio Rank: 89
HYBI Martin Ratio Rank: 85

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.

HYBI vs. BNDI - Risk-Adjusted Trends Comparison

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

	HYBI	BNDI	Difference
Sharpe ratio Return per unit of total volatility	2.48	1.76	+0.72
Sortino ratio Return per unit of downside risk	3.82	2.65	+1.16
Omega ratio Gain probability vs. loss probability	1.49	1.32	+0.17
Calmar ratio Return relative to maximum drawdown	5.52	2.59	+2.93
Martin ratio Return relative to average drawdown	18.13	9.27	+8.86
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. BNDI - Sharpe Ratio Comparison

The current HYBI Sharpe Ratio is 2.48, which is higher than the BNDI Sharpe Ratio of 1.76. The chart below compares the historical Sharpe Ratios of HYBI 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

	HYBI	BNDI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.48	1.76	+0.72
Sharpe Ratio (All Time) Calculated using the full available price history	1.01	0.66	+0.35

Drawdowns

HYBI vs. BNDI - Drawdown Comparison

The maximum HYBI drawdown since its inception was -4.68%, smaller than the maximum BNDI drawdown of -6.98%. Use the drawdown chart below to compare losses from any high point for HYBI and BNDI.

Drawdown Indicators

	HYBI	BNDI	Difference
Max Drawdown Largest peak-to-trough decline	-4.68%	-6.98%	+2.30%
Max Drawdown (1Y) Largest decline over 1 year	-1.43%	-2.75%	+1.32%
Max Drawdown (3Y) Largest decline over 3 years	—	-5.83%	—
Current Drawdown Current decline from peak	0.00%	-0.63%	+0.63%
Average Drawdown Average peak-to-trough decline	-0.62%	-1.71%	+1.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.44%	0.77%	-0.33%

Volatility

HYBI vs. BNDI - Volatility Comparison

The current volatility for NEOS Enhanced Income Credit Select ETF (HYBI) is 0.98%, while Neos Enhanced Income Aggregate Bond ETF (BNDI) has a volatility of 1.41%. This indicates that HYBI experiences smaller price fluctuations and is considered to be less risky than BNDI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HYBI	BNDI	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.98%	1.41%	-0.43%
Volatility (6M) Calculated over the trailing 6-month period	2.13%	3.11%	-0.98%
Volatility (1Y) Calculated over the trailing 1-year period	3.22%	4.17%	-0.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.94%	6.19%	-1.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.94%	6.19%	-1.25%

HYBI vs. BNDI - Expense Ratio Comparison

HYBI has a 0.68% expense ratio, which is higher than BNDI's 0.58% expense ratio.

Dividends

HYBI vs. BNDI - Dividend Comparison

HYBI's dividend yield for the trailing twelve months is around 8.35%, more than BNDI's 5.79% yield.

Position	TTM	2025	2024	2023	2022
BNDI Neos Enhanced Income Aggregate Bond ETF	5.79%	5.69%	5.54%	5.17%	1.68%
HYBI NEOS Enhanced Income Credit Select ETF	8.35%	8.48%	2.21%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HYBI and BNDI in my portfolio?

HYBI and BNDI have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HYBI or BNDI?

BNDI has higher volatility (1.41%) compared to HYBI (0.98%). In terms of maximum drawdown, HYBI dropped -4.68% vs BNDI's -6.98%.

Which ETF is better, HYBI or BNDI?

On 1-year performance, HYBI leads with 7.95% vs 7.31% for BNDI. On fees, BNDI is cheaper at 0.58% per year. On volatility, HYBI has been the lower-risk option at 0.98%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HYBI or BNDI?

Over the 1-year period, HYBI has performed better with a 7.95% return vs 7.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HYBI or BNDI?

BNDI is cheaper with a 0.58% expense ratio, compared with 0.68% for HYBI.

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

HYBI has the higher dividend yield at 8.35%, compared with 5.79% for BNDI.

What is the main difference between HYBI and BNDI?

HYBI is categorized as Nontraditional Bonds, while BNDI is Intermediate Core-Plus Bond. Their fees differ too: 0.68% for HYBI and 0.58% for BNDI.

Which has better risk-adjusted returns?

HYBI currently has the higher Sharpe Ratio (2.48 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.