HYBI vs. HNDL

Last updated Aug 4, 2026

HYBI (NEOS Enhanced Income Credit Select ETF) and HNDL (Strategy Shares Nasdaq 7HANDL Index ETF) are both exchange-traded funds - HYBI is a Nontraditional Bonds fund actively managed by Neos, while HNDL is a Diversified Portfolio fund tracking the NASDAQ 7 HANDL™ Index. HYBI is actively managed, while HNDL is passively managed. Over the past year, HYBI returned 5.93% vs 11.98% for HNDL. Their 0.77 correlation means they have sometimes moved together and sometimes differently. HYBI charges 0.68%/yr vs 0.97%/yr for HNDL.

Performance

HYBI vs. HNDL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in NEOS Enhanced Income Credit Select ETF (HYBI) and Strategy Shares Nasdaq 7HANDL Index ETF (HNDL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HYBI achieves a 2.12% return, which is significantly lower than HNDL's 6.78% return.

HYBI

• 1D: 0.12%
• 1M: -0.02%
• 6M: 1.29%
• YTD: 2.12%
• 1Y: 5.93%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 4.62%

HNDL

• 1D: 0.44%
• 1M: -0.39%
• 6M: 5.25%
• YTD: 6.78%
• 1Y: 11.98%
• 3Y*: 11.41%
• 5Y*: 4.44%
• 10Y*: —
• ALL TIME*: 5.63%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
HNDL Strategy Shares Nasdaq 7HANDL Index ETF	$1.06M	$1.10M	$1.31M
HYBI NEOS Enhanced Income Credit Select ETF	$1.44M	$1.37M	$1.62M

HYBI vs. HNDL - Yearly Performance Comparison

	2026 (YTD)	2025	2024
HYBI NEOS Enhanced Income Credit Select ETF	2.12%	6.97%	-0.53%
HNDL Strategy Shares Nasdaq 7HANDL Index ETF	6.78%	10.76%	-2.35%

Correlation

The correlation between HYBI and HNDL is 0.79, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.79
Correlation (All Time) Calculated using the full available price history since Sep 30, 2024	0.77

The correlation between HYBI and HNDL has been stable across timeframes, ranging from 0.77 to 0.79 - a consistent structural relationship.

Return for Risk

HYBI vs. HNDL — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

HYBI

HYBI Risk / Return Rank: 82
HYBI Sharpe Ratio Rank: 75
HYBI Sortino Ratio Rank: 80
HYBI Omega Ratio Rank: 78
HYBI Calmar Ratio Rank: 91
HYBI Martin Ratio Rank: 87

HNDL

HNDL Risk / Return Rank: 68
HNDL Sharpe Ratio Rank: 67
HNDL Sortino Ratio Rank: 64
HNDL Omega Ratio Rank: 67
HNDL Calmar Ratio Rank: 67
HNDL Martin Ratio Rank: 75

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

HYBI vs. HNDL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NEOS Enhanced Income Credit Select ETF (HYBI) and Strategy Shares Nasdaq 7HANDL Index ETF (HNDL). 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.

	HYBI	HNDL	Difference
Sharpe ratio: Return per unit of total volatility	1.76	1.60	+0.17
Sortino ratio: Return per unit of downside risk	2.68	2.20	+0.48
Omega ratio: Gain probability vs. loss probability	1.34	1.29	+0.05
Calmar ratio: Return relative to maximum drawdown	4.17	2.42	+1.75
Martin ratio: Return relative to average drawdown	13.00	9.68	+3.32

HYBI vs. HNDL - Sharpe Ratio Comparison

The current HYBI Sharpe Ratio is 1.76, which is comparable to the HNDL Sharpe Ratio of 1.60. The chart below compares the historical Sharpe Ratios of HYBI and HNDL, 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

HYBI vs. HNDL - Drawdown Comparison

The maximum HYBI drawdown since its inception was -4.68%, smaller than the maximum HNDL drawdown of -23.72%. Use the drawdown chart below to compare losses from any high point for HYBI and HNDL.

Drawdown Indicators

	HYBI	HNDL	Difference
Max Drawdown Largest peak-to-trough decline	-4.68%	-23.72%	+19.04%
Max Drawdown (1Y) Largest decline over 1 year	-1.43%	-4.96%	+3.53%
Max Drawdown (3Y) Largest decline over 3 years	—	-12.25%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-23.72%	—
Current Drawdown Current decline from peak	-0.22%	-0.91%	+0.69%
Average Drawdown Average peak-to-trough decline	-0.59%	-4.79%	+4.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.46%	1.24%	-0.78%

Volatility

HYBI vs. HNDL - Volatility Comparison

The current volatility for NEOS Enhanced Income Credit Select ETF (HYBI) is 0.88%, while Strategy Shares Nasdaq 7HANDL Index ETF (HNDL) has a volatility of 1.64%. This indicates that HYBI experiences smaller price fluctuations and is considered to be less risky than HNDL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HYBI	HNDL	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.88%	1.64%	-0.76%
Volatility (6M) Calculated over the trailing 6-month period	2.40%	5.88%	-3.48%
Volatility (1Y) Calculated over the trailing 1-year period	3.38%	7.55%	-4.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.84%	11.57%	-6.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.84%	10.69%	-5.85%

HYBI vs. HNDL - Expense Ratio Comparison

HYBI has a 0.68% expense ratio, which is lower than HNDL's 0.97% expense ratio.

Dividends

HYBI vs. HNDL - Dividend Comparison

HYBI's dividend yield for the trailing twelve months is around 8.30%, more than HNDL's 6.95% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
HNDL Strategy Shares Nasdaq 7HANDL Index ETF	6.95%	6.86%	7.02%	6.78%	7.87%	6.86%	6.21%	5.27%	6.42%
HYBI NEOS Enhanced Income Credit Select ETF	8.30%	8.48%	2.21%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HYBI and HNDL in my portfolio?

HYBI and HNDL have a correlation of 0.79, 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 HNDL?

HNDL has higher volatility (1.64%) compared to HYBI (0.88%). In terms of maximum drawdown, HYBI dropped -4.68% vs HNDL's -23.72%.

Which ETF is better, HYBI or HNDL?

On 1-year performance, HNDL leads with 11.98% vs 5.93% for HYBI. On fees, HYBI is cheaper at 0.68% per year. On volatility, HYBI has been the lower-risk option at 0.88%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HYBI or HNDL?

Over the 1-year period, HNDL has performed better with a 11.98% return vs 5.93%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HYBI or HNDL?

HYBI is cheaper with a 0.68% expense ratio, compared with 0.97% for HNDL.

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

HYBI has the higher dividend yield at 8.30%, compared with 6.95% for HNDL.

What is the main difference between HYBI and HNDL?

HYBI is categorized as Nontraditional Bonds, while HNDL is Diversified Portfolio. They also come from different issuers: Neos and Strategy Shares. Their fees differ too: 0.68% for HYBI and 0.97% for HNDL.

Which has better risk-adjusted returns?

HYBI currently has the higher Sharpe Ratio (1.76 vs 1.60), 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.