IYRI vs. BNDI

Last updated Jun 4, 2026

IYRI (NEOS Real Estate High Income ETF) and BNDI (Neos Enhanced Income Aggregate Bond ETF) are both exchange-traded funds - IYRI is a Derivative Income fund tracking the Dow Jones U.S. Real Estate Capped Index, while BNDI is a Intermediate Core-Plus Bond fund actively managed by Neos. IYRI is passively managed, while BNDI is actively managed. Over the past year, IYRI returned 8.34% vs 7.00% for BNDI. At a 0.42 correlation, their price movements are largely independent. IYRI charges 0.68%/yr vs 0.58%/yr for BNDI.

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.

Returns By Period

In the year-to-date period, IYRI achieves a 4.08% return, which is significantly higher than BNDI's 1.29% return.

IYRI

• 1D: 0.17%
• 1M: -1.04%
• YTD: 4.08%
• 6M: 3.47%
• 1Y: 8.34%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BNDI

• 1D: -0.21%
• 1M: 0.36%
• YTD: 1.29%
• 6M: 1.22%
• 1Y: 7.00%
• 3Y*: 4.83%
• 5Y*: —
• 10Y*: —

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

IYRI vs. BNDI - Yearly Performance Comparison

	2026 (YTD)	2025
IYRI NEOS Real Estate High Income ETF	4.08%	7.95%
BNDI Neos Enhanced Income Aggregate Bond ETF	1.29%	8.14%

Correlation

The correlation between IYRI and BNDI is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.42
Correlation (All Time) Calculated using the full available price history since Jan 16, 2025	0.42

IYRI vs. BNDI - Sectors Allocation Comparison

Sectors	IYRI	BNDI
Real Estate	98.0%	1.9%
Basic Materials	1.3%	1.8%
Communication Services	0.6%	11.2%
Consumer Cyclical	-	10.1%
Consumer Defensive	-	4.9%
Energy	-	3.5%
Financial Services	-	11.8%
Healthcare	-	8.5%
Industrials	-	8.3%
Technology	-	35.6%
Utilities	-	2.4%

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: 23
IYRI Sharpe Ratio Rank: 23
IYRI Sortino Ratio Rank: 21
IYRI Omega Ratio Rank: 22
IYRI Calmar Ratio Rank: 24
IYRI Martin Ratio Rank: 28

BNDI

BNDI Risk / Return Rank: 50
BNDI Sharpe Ratio Rank: 48
BNDI Sortino Ratio Rank: 52
BNDI Omega Ratio Rank: 47
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.

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	0.81	1.69	-0.88
Sortino ratio Return per unit of downside risk	1.16	2.54	-1.38
Omega ratio Gain probability vs. loss probability	1.15	1.30	-0.15
Calmar ratio Return relative to maximum drawdown	1.11	2.56	-1.45
Martin ratio Return relative to average drawdown	4.00	9.12	-5.12
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 0.81, which is lower than the BNDI Sharpe Ratio of 1.69. The chart below compares the historical Sharpe Ratios of IYRI 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

	IYRI	BNDI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.81	1.69	-0.88
Sharpe Ratio (All Time) Calculated using the full available price history	0.68	0.65	+0.03

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	-7.53%	-2.75%	-4.78%
Max Drawdown (3Y) Largest decline over 3 years	—	-5.83%	—
Current Drawdown Current decline from peak	-2.17%	-0.84%	-1.33%
Average Drawdown Average peak-to-trough decline	-1.72%	-1.71%	-0.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.09%	0.77%	+1.32%

Volatility

IYRI vs. BNDI - Volatility Comparison

NEOS Real Estate High Income ETF (IYRI) has a higher volatility of 3.03% compared to Neos Enhanced Income Aggregate Bond ETF (BNDI) at 1.38%. 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	3.03%	1.38%	+1.65%
Volatility (6M) Calculated over the trailing 6-month period	7.17%	3.08%	+4.09%
Volatility (1Y) Calculated over the trailing 1-year period	10.31%	4.17%	+6.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.07%	6.19%	+6.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.07%	6.19%	+6.88%

IYRI vs. BNDI - Expense Ratio Comparison

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

Dividends

IYRI vs. BNDI - Dividend Comparison

IYRI's dividend yield for the trailing twelve months is around 11.27%, more than BNDI's 5.80% yield.

Position	TTM	2025	2024	2023	2022
BNDI Neos Enhanced Income Aggregate Bond ETF	5.80%	5.69%	5.54%	5.17%	1.68%
IYRI NEOS Real Estate High Income ETF	11.27%	11.72%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IYRI and BNDI in my portfolio?

IYRI and BNDI have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IYRI or BNDI?

IYRI has higher volatility (3.03%) compared to BNDI (1.38%). In terms of maximum drawdown, IYRI dropped -12.12% vs BNDI's -6.98%.

Which ETF is better, IYRI or BNDI?

On 1-year performance, IYRI leads with 8.34% vs 7.00% for BNDI. On fees, BNDI is cheaper at 0.58% per year. On volatility, BNDI has been the lower-risk option at 1.38%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IYRI or BNDI?

Over the 1-year period, IYRI has performed better with a 8.34% return vs 7.00%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IYRI or BNDI?

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

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

IYRI has the higher dividend yield at 11.27%, compared with 5.80% for BNDI.

What is the main difference between IYRI and BNDI?

IYRI is categorized as Derivative Income, while BNDI is Intermediate Core-Plus Bond. Their fees differ too: 0.68% for IYRI and 0.58% for BNDI.

Which has better risk-adjusted returns?

BNDI currently has the higher Sharpe Ratio (1.69 vs 0.81), 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.