IYRI vs. BNDI

Last updated Apr 2, 2026

Compare and contrast key facts about NEOS Real Estate High Income ETF (IYRI) and Neos Enhanced Income Aggregate Bond ETF (BNDI).

IYRI and BNDI are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IYRI is a passively managed fund by Neos that tracks the performance of the Dow Jones U.S. Real Estate Capped Index. It was launched on Jan 14, 2025. BNDI is an actively managed fund by Neos. It was launched on Aug 29, 2022.

Performance

IYRI vs. BNDI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in NEOS Real Estate High Income ETF (IYRI) and Neos Enhanced Income Aggregate Bond ETF (BNDI). The values are adjusted to include any dividend payments, if applicable.

IYRI vs. BNDI - Yearly Performance Comparison

	2026 (YTD)	2025
IYRI NEOS Real Estate High Income ETF	0.57%	7.95%
BNDI Neos Enhanced Income Aggregate Bond ETF	0.61%	8.14%

Returns By Period

In the year-to-date period, IYRI achieves a 0.57% return, which is significantly lower than BNDI's 0.61% return.

IYRI

• 1D: 0.59%
• 1M: -5.18%
• YTD: 0.57%
• 6M: -0.47%
• 1Y: 4.30%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BNDI

• 1D: -0.07%
• 1M: -1.16%
• YTD: 0.61%
• 6M: 1.70%
• 1Y: 5.79%
• 3Y*: 4.37%
• 5Y*: —
• 10Y*: —

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

IYRI vs. BNDI - Expense Ratio Comparison

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

IYRI

NEOS Real Estate High Income ETF

BNDI

Neos Enhanced Income Aggregate Bond ETF

Return for Risk

IYRI vs. BNDI — Risk / Return Rank

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

IYRI

IYRI Risk / Return Rank: 21
IYRI Sharpe Ratio Rank: 20
IYRI Sortino Ratio Rank: 19
IYRI Omega Ratio Rank: 19
IYRI Calmar Ratio Rank: 21
IYRI Martin Ratio Rank: 24

BNDI

BNDI Risk / Return Rank: 63
BNDI Sharpe Ratio Rank: 65
BNDI Sortino Ratio Rank: 63
BNDI Omega Ratio Rank: 57
BNDI Calmar Ratio Rank: 66
BNDI Martin Ratio Rank: 64

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.

IYRI vs. BNDI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NEOS Real Estate High Income ETF (IYRI) 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.

	IYRI	BNDI	Difference
Sharpe ratio Return per unit of total volatility	0.31	1.19	-0.88
Sortino ratio Return per unit of downside risk	0.52	1.67	-1.14
Omega ratio Gain probability vs. loss probability	1.07	1.22	-0.15
Calmar ratio Return relative to maximum drawdown	0.42	1.78	-1.36
Martin ratio Return relative to average drawdown	1.85	6.74	-4.89
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IYRI vs. BNDI - Sharpe Ratio Comparison

The current IYRI Sharpe Ratio is 0.31, which is lower than the BNDI Sharpe Ratio of 1.19. The chart below compares the historical Sharpe Ratios of IYRI and BNDI, 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

	IYRI	BNDI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.31	1.19	-0.88
Sharpe Ratio (All Time) Calculated using the full available price history	0.53	0.64	-0.11

Correlation

The correlation between IYRI and BNDI is 0.43, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

IYRI vs. BNDI - Dividend Comparison

IYRI's dividend yield for the trailing twelve months is around 11.60%, more than BNDI's 5.74% yield.

	TTM	2025	2024	2023	2022
IYRI NEOS Real Estate High Income ETF	11.60%	11.72%	0.00%	0.00%	0.00%
BNDI Neos Enhanced Income Aggregate Bond ETF	5.74%	5.69%	5.54%	5.17%	1.68%

Drawdowns

IYRI vs. BNDI - Drawdown Comparison

The maximum IYRI drawdown since its inception was -12.12%, which is greater than BNDI's maximum drawdown of -6.98%. Use the drawdown chart below to compare losses from any high point for IYRI and BNDI.

Drawdown Indicators

	IYRI	BNDI	Difference
Max Drawdown Largest peak-to-trough decline	-12.12%	-6.98%	-5.14%
Max Drawdown (1Y) Largest decline over 1 year	-11.31%	-3.37%	-7.94%
Current Drawdown Current decline from peak	-5.18%	-1.51%	-3.67%
Average Drawdown Average peak-to-trough decline	-1.79%	-1.75%	-0.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.56%	0.89%	+1.67%

Volatility

IYRI vs. BNDI - Volatility Comparison

NEOS Real Estate High Income ETF (IYRI) has a higher volatility of 4.28% compared to Neos Enhanced Income Aggregate Bond ETF (BNDI) at 2.06%. This indicates that IYRI'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

	IYRI	BNDI	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.28%	2.06%	+2.22%
Volatility (6M) Calculated over the trailing 6-month period	7.49%	2.85%	+4.64%
Volatility (1Y) Calculated over the trailing 1-year period	13.79%	4.89%	+8.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.47%	6.27%	+7.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.47%	6.27%	+7.20%