MFSB vs. BNDI

Last updated Jun 4, 2026

MFSB (MFS Active Core Plus Bond ETF) and BNDI (Neos Enhanced Income Aggregate Bond ETF) are both Intermediate Core-Plus Bond funds. Both are actively managed. Over the past year, MFSB returned 6.16% vs 7.00% for BNDI. Their correlation of 0.90 suggests significant overlap in exposure. MFSB charges 0.34%/yr vs 0.58%/yr for BNDI.

Performance

MFSB vs. BNDI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MFS Active Core Plus Bond ETF (MFSB) 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, MFSB achieves a 0.56% return, which is significantly lower than BNDI's 1.29% return.

MFSB

• 1D: -0.26%
• 1M: 0.38%
• YTD: 0.56%
• 6M: 0.61%
• 1Y: 6.16%
• 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)

MFSB vs. BNDI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MFSB MFS Active Core Plus Bond ETF	0.56%	7.40%	-1.50%
BNDI Neos Enhanced Income Aggregate Bond ETF	1.29%	7.95%	-1.89%

Correlation

The correlation between MFSB and BNDI is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.90
Correlation (All Time) Calculated using the full available price history since Dec 6, 2024	0.90

The correlation between MFSB and BNDI has been stable across timeframes, ranging from 0.90 to 0.90 - a consistent structural relationship.

Return for Risk

MFSB vs. BNDI — Risk / Return Rank

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

MFSB

MFSB Risk / Return Rank: 49
MFSB Sharpe Ratio Rank: 50
MFSB Sortino Ratio Rank: 53
MFSB Omega Ratio Rank: 49
MFSB Calmar Ratio Rank: 47
MFSB Martin Ratio Rank: 44

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.

MFSB vs. BNDI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MFS Active Core Plus Bond ETF (MFSB) 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.

	MFSB	BNDI	Difference
Sharpe ratio: Return per unit of total volatility	1.70	1.69	+0.01
Sortino ratio: Return per unit of downside risk	2.51	2.54	-0.03
Omega ratio: Gain probability vs. loss probability	1.30	1.30	0.00
Calmar ratio: Return relative to maximum drawdown	2.28	2.56	-0.27
Martin ratio: Return relative to average drawdown	7.17	9.12	-1.95
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MFSB vs. BNDI - Sharpe Ratio Comparison

The current MFSB Sharpe Ratio is 1.70, which is comparable to the BNDI Sharpe Ratio of 1.69. The chart below compares the historical Sharpe Ratios of MFSB 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

	MFSB	BNDI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.70	1.69	+0.01
Sharpe Ratio (All Time) Calculated using the full available price history	1.01	0.65	+0.37

Drawdowns

MFSB vs. BNDI - Drawdown Comparison

The maximum MFSB drawdown since its inception was -3.19%, smaller than the maximum BNDI drawdown of -6.98%. Use the drawdown chart below to compare losses from any high point for MFSB and BNDI.

Drawdown Indicators

	MFSB	BNDI	Difference
Max Drawdown Largest peak-to-trough decline	-3.19%	-6.98%	+3.79%
Max Drawdown (1Y) Largest decline over 1 year	-2.71%	-2.75%	+0.04%
Max Drawdown (3Y) Largest decline over 3 years	—	-5.83%	—
Current Drawdown Current decline from peak	-1.26%	-0.84%	-0.42%
Average Drawdown Average peak-to-trough decline	-0.82%	-1.71%	+0.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.86%	0.77%	+0.09%

Volatility

MFSB vs. BNDI - Volatility Comparison

MFS Active Core Plus Bond ETF (MFSB) and Neos Enhanced Income Aggregate Bond ETF (BNDI) have volatilities of 1.33% and 1.38%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MFSB	BNDI	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.33%	1.38%	-0.05%
Volatility (6M) Calculated over the trailing 6-month period	2.68%	3.08%	-0.40%
Volatility (1Y) Calculated over the trailing 1-year period	3.64%	4.17%	-0.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.23%	6.19%	-1.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.23%	6.19%	-1.96%

MFSB vs. BNDI - Expense Ratio Comparison

MFSB has a 0.34% expense ratio, which is lower than BNDI's 0.58% expense ratio.

Dividends

MFSB vs. BNDI - Dividend Comparison

MFSB's dividend yield for the trailing twelve months is around 4.59%, less 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%
MFSB MFS Active Core Plus Bond ETF	4.59%	4.58%	0.37%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MFSB and BNDI in my portfolio?

With a correlation of 0.90, MFSB and BNDI move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, MFSB or BNDI?

BNDI has higher volatility (1.38%) compared to MFSB (1.33%). In terms of maximum drawdown, MFSB dropped -3.19% vs BNDI's -6.98%.

Which ETF is better, MFSB or BNDI?

On 1-year performance, BNDI leads with 7.00% vs 6.16% for MFSB. On fees, MFSB is cheaper at 0.34% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MFSB or BNDI?

Over the 1-year period, BNDI has performed better with a 7.00% return vs 6.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MFSB or BNDI?

MFSB is cheaper with a 0.34% expense ratio, compared with 0.58% for BNDI.

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

BNDI has the higher dividend yield at 5.80%, compared with 4.59% for MFSB.

What is the main difference between MFSB and BNDI?

They also come from different issuers: MFS and Neos. Their fees differ too: 0.34% for MFSB and 0.58% for BNDI.

Which has better risk-adjusted returns?

MFSB currently has the higher Sharpe Ratio (1.70 vs 1.69), 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.