PBOG vs. BNDI

Last updated Jul 17, 2026

PBOG (Portfolio Building Block Integrated Oil & Gas and Exploration & Production Index ETF) and BNDI (Neos Enhanced Income Aggregate Bond ETF) are both exchange-traded funds - PBOG is a Energy Equities fund tracking the BITA Global Oil & Gas Select Index, while BNDI is a Intermediate Core-Plus Bond fund actively managed by Neos. PBOG is passively managed, while BNDI is actively managed. At a correlation of -0.38, they often move in opposite directions. PBOG charges 0.13%/yr vs 0.58%/yr for BNDI.

Performance

PBOG vs. BNDI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Portfolio Building Block Integrated Oil & Gas and Exploration & Production Index ETF (PBOG) 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, PBOG achieves a 24.78% return, which is significantly higher than BNDI's 1.34% return.

PBOG

• 1D: 0.16%
• 1M: 1.84%
• 6M: 20.36%
• YTD: 24.78%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BNDI

• 1D: -0.14%
• 1M: -0.34%
• 6M: 0.92%
• YTD: 1.34%
• 1Y: 6.05%
• 3Y*: 4.78%
• 5Y*: —
• 10Y*: —

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

PBOG vs. BNDI - Yearly Performance Comparison

	2026 (YTD)	2025
PBOG Portfolio Building Block Integrated Oil & Gas and Exploration & Production Index ETF	24.78%	1.39%
BNDI Neos Enhanced Income Aggregate Bond ETF	1.34%	0.06%

Correlation

The correlation between PBOG and BNDI is -0.38, 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 Nov 25, 2025	-0.38

Return for Risk

PBOG vs. BNDI — Risk / Return Rank

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

PBOG

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

BNDI

BNDI Risk / Return Rank: 55
BNDI Sharpe Ratio Rank: 53
BNDI Sortino Ratio Rank: 58
BNDI Omega Ratio Rank: 51
BNDI Calmar Ratio Rank: 55
BNDI Martin Ratio Rank: 56

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.

PBOG vs. BNDI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Portfolio Building Block Integrated Oil & Gas and Exploration & Production Index ETF (PBOG) 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	PBOG	BNDI	Difference
Sharpe ratio: Return per unit of total volatility	—	1.46	—
Sortino ratio: Return per unit of downside risk	—	2.21	—
Omega ratio: Gain probability vs. loss probability	—	1.26	—
Calmar ratio: Return relative to maximum drawdown	—	2.21	—
Martin ratio: Return relative to average drawdown	—	7.79	—

Drawdowns

PBOG vs. BNDI - Drawdown Comparison

The maximum PBOG drawdown since its inception was -19.24%, which is greater than BNDI's maximum drawdown of -7.25%. Use the drawdown chart below to compare losses from any high point for PBOG and BNDI.

Drawdown Indicators

	PBOG	BNDI	Difference
Max Drawdown Largest peak-to-trough decline	-19.24%	-7.25%	-11.99%
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	-12.05%	-0.92%	-11.13%
Average Drawdown Average peak-to-trough decline	-5.05%	-1.70%	-3.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.78%	—

Volatility

Volatility by Period

	PBOG	BNDI	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.15%	—
Volatility (6M) Calculated over the trailing 6-month period	—	3.39%	—
Volatility (1Y) Calculated over the trailing 1-year period	24.00%	4.16%	+19.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.00%	6.15%	+17.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.00%	6.15%	+17.85%

PBOG vs. BNDI - Expense Ratio Comparison

PBOG has a 0.13% expense ratio, which is lower than BNDI's 0.58% expense ratio.

Dividends

PBOG vs. BNDI - Dividend Comparison

PBOG's dividend yield for the trailing twelve months is around 0.14%, less than BNDI's 6.34% yield.

Position	TTM	2025	2024	2023	2022
BNDI Neos Enhanced Income Aggregate Bond ETF	6.34%	5.69%	5.54%	5.17%	1.68%
PBOG Portfolio Building Block Integrated Oil & Gas and Exploration & Production Index ETF	0.14%	0.17%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PBOG and BNDI in my portfolio?

PBOG and BNDI have a correlation of -0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, PBOG or BNDI?

On fees, PBOG is cheaper at 0.13% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PBOG or BNDI?

PBOG is cheaper with a 0.13% expense ratio, compared with 0.58% for BNDI.

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

BNDI has the higher dividend yield at 6.34%, compared with 0.14% for PBOG.

What is the main difference between PBOG and BNDI?

PBOG is categorized as Energy Equities, while BNDI is Intermediate Core-Plus Bond. They also come from different issuers: Portfolio Building Blocks and Neos. Their fees differ too: 0.13% for PBOG and 0.58% for BNDI.