IAUI vs. HYBI

Last updated Jun 24, 2026

IAUI (NEOS Gold High Income ETF) and HYBI (NEOS Enhanced Income Credit Select ETF) are both exchange-traded funds - IAUI is a Derivative Income fund actively managed by Neos, while HYBI is a Nontraditional Bonds fund actively managed by Neos. Both are actively managed. Over the past year, IAUI returned 12.83% vs 6.54% for HYBI. At a 0.25 correlation, their price movements are largely independent. IAUI charges 0.78%/yr vs 0.68%/yr for HYBI.

Performance

IAUI vs. HYBI - Performance Comparison

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

Returns By Period

In the year-to-date period, IAUI achieves a -5.63% return, which is significantly lower than HYBI's 1.71% return.

IAUI

• 1D: -2.15%
• 1M: -8.06%
• YTD: -5.63%
• 6M: -8.22%
• 1Y: 12.83%
• 3Y*: —
• 5Y*: —
• 10Y*: —

HYBI

• 1D: -0.08%
• 1M: 0.38%
• YTD: 1.71%
• 6M: 1.90%
• 1Y: 6.54%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IAUI vs. HYBI - Yearly Performance Comparison

	2026 (YTD)	2025
IAUI NEOS Gold High Income ETF	-5.63%	20.00%
HYBI NEOS Enhanced Income Credit Select ETF	1.71%	5.50%

Correlation

The correlation between IAUI and HYBI is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.27
Correlation (All Time) Calculated using the full available price history since Jun 5, 2025	0.25

Return for Risk

IAUI vs. HYBI — Risk / Return Rank

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

IAUI

IAUI Risk / Return Rank: 18
IAUI Sharpe Ratio Rank: 19
IAUI Sortino Ratio Rank: 17
IAUI Omega Ratio Rank: 20
IAUI Calmar Ratio Rank: 16
IAUI Martin Ratio Rank: 18

HYBI

HYBI Risk / Return Rank: 73
HYBI Sharpe Ratio Rank: 63
HYBI Sortino Ratio Rank: 70
HYBI Omega Ratio Rank: 68
HYBI Calmar Ratio Rank: 86
HYBI Martin Ratio Rank: 80

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.

IAUI vs. HYBI - Risk-Adjusted Trends Comparison

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

	IAUI	HYBI	Difference
Sharpe ratio: Return per unit of total volatility	0.60	1.96	-1.36
Sortino ratio: Return per unit of downside risk	0.91	2.99	-2.07
Omega ratio: Gain probability vs. loss probability	1.13	1.38	-0.25
Calmar ratio: Return relative to maximum drawdown	0.63	4.60	-3.97
Martin ratio: Return relative to average drawdown	1.87	14.75	-12.88

IAUI vs. HYBI - Sharpe Ratio Comparison

The current IAUI Sharpe Ratio is 0.60, which is lower than the HYBI Sharpe Ratio of 1.96. The chart below compares the historical Sharpe Ratios of IAUI and HYBI, 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

IAUI vs. HYBI - Drawdown Comparison

The maximum IAUI drawdown since its inception was -20.43%, which is greater than HYBI's maximum drawdown of -4.68%. Use the drawdown chart below to compare losses from any high point for IAUI and HYBI.

Drawdown Indicators

	IAUI	HYBI	Difference
Max Drawdown Largest peak-to-trough decline	-20.43%	-4.68%	-15.75%
Max Drawdown (1Y) Largest decline over 1 year	-20.43%	-1.43%	-19.00%
Current Drawdown Current decline from peak	-19.97%	-0.26%	-19.71%
Average Drawdown Average peak-to-trough decline	-4.13%	-0.61%	-3.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.86%	0.44%	+6.42%

Volatility

IAUI vs. HYBI - Volatility Comparison

NEOS Gold High Income ETF (IAUI) has a higher volatility of 7.78% compared to NEOS Enhanced Income Credit Select ETF (HYBI) at 1.28%. This indicates that IAUI's price experiences larger fluctuations and is considered to be riskier than HYBI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IAUI	HYBI	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.78%	1.28%	+6.50%
Volatility (6M) Calculated over the trailing 6-month period	19.82%	2.35%	+17.47%
Volatility (1Y) Calculated over the trailing 1-year period	21.42%	3.37%	+18.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.06%	4.94%	+16.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.06%	4.94%	+16.12%

IAUI vs. HYBI - Expense Ratio Comparison

IAUI has a 0.78% expense ratio, which is higher than HYBI's 0.68% expense ratio.

Dividends

IAUI vs. HYBI - Dividend Comparison

IAUI's dividend yield for the trailing twelve months is around 14.80%, more than HYBI's 9.09% yield.

Position	TTM	2025	2024
HYBI NEOS Enhanced Income Credit Select ETF	9.09%	8.48%	2.21%
IAUI NEOS Gold High Income ETF	14.80%	6.88%	0.00%

Frequently Asked Questions

Can I hold both IAUI and HYBI in my portfolio?

IAUI and HYBI have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IAUI or HYBI?

IAUI has higher volatility (7.78%) compared to HYBI (1.28%). In terms of maximum drawdown, IAUI dropped -20.43% vs HYBI's -4.68%.

Which ETF is better, IAUI or HYBI?

On 1-year performance, IAUI leads with 12.83% vs 6.54% for HYBI. On fees, HYBI is cheaper at 0.68% per year. On volatility, HYBI has been the lower-risk option at 1.28%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IAUI or HYBI?

Over the 1-year period, IAUI has performed better with a 12.83% return vs 6.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IAUI or HYBI?

HYBI is cheaper with a 0.68% expense ratio, compared with 0.78% for IAUI.

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

IAUI has the higher dividend yield at 14.80%, compared with 9.09% for HYBI.

What is the main difference between IAUI and HYBI?

IAUI is categorized as Derivative Income, while HYBI is Nontraditional Bonds. Their fees differ too: 0.78% for IAUI and 0.68% for HYBI.

Which has better risk-adjusted returns?

HYBI currently has the higher Sharpe Ratio (1.96 vs 0.60), 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.