MLPI vs. BNDI

Last updated Jun 4, 2026

MLPI (Neos MLP & Energy Infrastructure High Income ETF) and BNDI (Neos Enhanced Income Aggregate Bond ETF) are both exchange-traded funds - MLPI is a Energy Equities fund actively managed by Neos, while BNDI is a Intermediate Core-Plus Bond fund actively managed by Neos. Both are actively managed. At a correlation of -0.19, they often move in opposite directions. MLPI charges 0.68%/yr vs 0.58%/yr for BNDI.

Performance

MLPI vs. BNDI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Neos MLP & Energy Infrastructure High Income ETF (MLPI) 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, MLPI achieves a 17.58% return, which is significantly higher than BNDI's 1.29% return.

MLPI

• 1D: 0.04%
• 1M: -3.13%
• YTD: 17.58%
• 6M: —
• 1Y: —
• 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)

MLPI vs. BNDI - Yearly Performance Comparison

	2026 (YTD)	2025
MLPI Neos MLP & Energy Infrastructure High Income ETF	17.58%	0.56%
BNDI Neos Enhanced Income Aggregate Bond ETF	1.29%	-0.07%

Correlation

The correlation between MLPI and BNDI is -0.19, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 19, 2025	-0.19

Return for Risk

MLPI vs. BNDI — Risk / Return Rank

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

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.

MLPI vs. BNDI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Neos MLP & Energy Infrastructure High Income ETF (MLPI) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	MLPI	BNDI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.69	—
Sharpe Ratio (All Time) Calculated using the full available price history	3.49	0.65	+2.84

Drawdowns

MLPI vs. BNDI - Drawdown Comparison

The maximum MLPI drawdown since its inception was -5.38%, smaller than the maximum BNDI drawdown of -6.98%. Use the drawdown chart below to compare losses from any high point for MLPI and BNDI.

Drawdown Indicators

	MLPI	BNDI	Difference
Max Drawdown Largest peak-to-trough decline	-5.38%	-6.98%	+1.60%
Max Drawdown (1Y) Largest decline over 1 year	—	-2.75%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-5.83%	—
Current Drawdown Current decline from peak	-3.84%	-0.84%	-3.00%
Average Drawdown Average peak-to-trough decline	-1.27%	-1.71%	+0.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.77%	—

Volatility

Volatility by Period

	MLPI	BNDI	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.38%	—
Volatility (6M) Calculated over the trailing 6-month period	—	3.08%	—
Volatility (1Y) Calculated over the trailing 1-year period	13.05%	4.17%	+8.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.05%	6.19%	+6.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.05%	6.19%	+6.86%

MLPI vs. BNDI - Expense Ratio Comparison

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

Dividends

MLPI vs. BNDI - Dividend Comparison

MLPI's dividend yield for the trailing twelve months is around 6.04%, 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%
MLPI Neos MLP & Energy Infrastructure High Income ETF	6.04%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MLPI and BNDI in my portfolio?

MLPI and BNDI have a correlation of -0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MLPI or BNDI?

On fees, BNDI is cheaper at 0.58% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MLPI or BNDI?

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

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

MLPI has the higher dividend yield at 6.04%, compared with 5.80% for BNDI.

What is the main difference between MLPI and BNDI?

MLPI is categorized as Energy Equities, while BNDI is Intermediate Core-Plus Bond. Their fees differ too: 0.68% for MLPI and 0.58% for BNDI.