OBND vs. HYBI

Last updated Apr 2, 2026

Compare and contrast key facts about SPDR Loomis Sayles Opportunistic Bond ETF (OBND) and NEOS Enhanced Income Credit Select ETF (HYBI).

OBND and HYBI are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. OBND is an actively managed fund by State Street. It was launched on Sep 27, 2021. HYBI is an actively managed fund by Neos. It was launched on Sep 27, 2024.

Performance

OBND vs. HYBI - Performance Comparison

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

OBND vs. HYBI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
OBND SPDR Loomis Sayles Opportunistic Bond ETF	-0.55%	7.85%	-0.97%
HYBI NEOS Enhanced Income Credit Select ETF	0.31%	6.97%	-0.48%

Returns By Period

In the year-to-date period, OBND achieves a -0.55% return, which is significantly lower than HYBI's 0.31% return.

OBND

• 1D: 0.06%
• 1M: -1.48%
• YTD: -0.55%
• 6M: 0.38%
• 1Y: 5.21%
• 3Y*: 6.13%
• 5Y*: —
• 10Y*: —

HYBI

• 1D: -0.00%
• 1M: -0.57%
• YTD: 0.31%
• 6M: 1.46%
• 1Y: 7.36%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

OBND vs. HYBI - Expense Ratio Comparison

OBND has a 0.55% expense ratio, which is lower than HYBI's 0.68% expense ratio.

HYBI

NEOS Enhanced Income Credit Select ETF

OBND

SPDR Loomis Sayles Opportunistic Bond ETF

Return for Risk

OBND vs. HYBI — Risk / Return Rank

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

OBND

OBND Risk / Return Rank: 69
OBND Sharpe Ratio Rank: 74
OBND Sortino Ratio Rank: 75
OBND Omega Ratio Rank: 69
OBND Calmar Ratio Rank: 64
OBND Martin Ratio Rank: 63

HYBI

HYBI Risk / Return Rank: 81
HYBI Sharpe Ratio Rank: 72
HYBI Sortino Ratio Rank: 76
HYBI Omega Ratio Rank: 87
HYBI Calmar Ratio Rank: 82
HYBI Martin Ratio Rank: 89

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.

OBND vs. HYBI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Loomis Sayles Opportunistic Bond ETF (OBND) 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.

	OBND	HYBI	Difference
Sharpe ratio Return per unit of total volatility	1.41	1.33	+0.08
Sortino ratio Return per unit of downside risk	2.01	2.01	+0.01
Omega ratio Gain probability vs. loss probability	1.27	1.36	-0.09
Calmar ratio Return relative to maximum drawdown	1.84	2.49	-0.65
Martin ratio Return relative to average drawdown	7.06	12.04	-4.99
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

OBND vs. HYBI - Sharpe Ratio Comparison

The current OBND Sharpe Ratio is 1.41, which is comparable to the HYBI Sharpe Ratio of 1.33. The chart below compares the historical Sharpe Ratios of OBND and HYBI, 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

	OBND	HYBI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.41	1.33	+0.08
Sharpe Ratio (All Time) Calculated using the full available price history	0.42	0.88	-0.46

Correlation

The correlation between OBND and HYBI is 0.67, 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

OBND vs. HYBI - Dividend Comparison

OBND's dividend yield for the trailing twelve months is around 6.35%, less than HYBI's 8.37% yield.

	TTM	2025	2024	2023	2022	2021
OBND SPDR Loomis Sayles Opportunistic Bond ETF	6.35%	6.26%	6.53%	6.01%	4.56%	0.55%
HYBI NEOS Enhanced Income Credit Select ETF	8.37%	8.48%	2.21%	0.00%	0.00%	0.00%

Drawdowns

OBND vs. HYBI - Drawdown Comparison

The maximum OBND drawdown since its inception was -15.86%, which is greater than HYBI's maximum drawdown of -4.68%. Use the drawdown chart below to compare losses from any high point for OBND and HYBI.

Drawdown Indicators

	OBND	HYBI	Difference
Max Drawdown Largest peak-to-trough decline	-15.86%	-4.68%	-11.18%
Max Drawdown (1Y) Largest decline over 1 year	-2.88%	-3.07%	+0.19%
Current Drawdown Current decline from peak	-1.79%	-0.96%	-0.83%
Average Drawdown Average peak-to-trough decline	-4.55%	-0.66%	-3.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.75%	0.63%	+0.12%

Volatility

OBND vs. HYBI - Volatility Comparison

SPDR Loomis Sayles Opportunistic Bond ETF (OBND) has a higher volatility of 1.84% compared to NEOS Enhanced Income Credit Select ETF (HYBI) at 1.14%. This indicates that OBND'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

	OBND	HYBI	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.84%	1.14%	+0.70%
Volatility (6M) Calculated over the trailing 6-month period	2.45%	2.44%	+0.01%
Volatility (1Y) Calculated over the trailing 1-year period	3.71%	5.56%	-1.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.69%	5.10%	-0.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.69%	5.10%	-0.41%