PST vs. BNDI

Last updated Jun 4, 2026

PST (ProShares UltraShort 7-10 Year Treasury) and BNDI (Neos Enhanced Income Aggregate Bond ETF) are both exchange-traded funds - PST is a Inverse Bonds fund tracking the ICE U.S. Treasury 7-10 Year Bond Index, while BNDI is a Intermediate Core-Plus Bond fund actively managed by Neos. PST is passively managed, while BNDI is actively managed. Over the past 3 years, PST returned 5.59%/yr vs 4.83%/yr for BNDI. At a correlation of -0.92, they often move in opposite directions. PST charges 0.95%/yr vs 0.58%/yr for BNDI.

Performance

PST vs. BNDI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraShort 7-10 Year Treasury (PST) 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, PST achieves a 4.57% return, which is significantly higher than BNDI's 1.29% return.

PST

• 1D: 0.51%
• 1M: 0.80%
• YTD: 4.57%
• 6M: 6.73%
• 1Y: 1.08%
• 3Y*: 5.59%
• 5Y*: 9.21%
• 10Y*: 2.47%

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)

PST vs. BNDI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
PST ProShares UltraShort 7-10 Year Treasury	4.57%	-4.42%	12.27%	3.17%	11.39%
BNDI Neos Enhanced Income Aggregate Bond ETF	1.29%	7.95%	1.74%	6.89%	-2.60%

Correlation

The correlation between PST and BNDI is -0.91, 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 (1Y) Calculated over the trailing 1-year period	-0.91
Correlation (3Y) Calculated over the trailing 3-year period	-0.91
Correlation (All Time) Calculated using the full available price history since Aug 31, 2022	-0.92

The correlation between PST and BNDI has been stable across timeframes, ranging from -0.92 to -0.91 - a consistent structural relationship.

PST vs. BNDI - Sectors Allocation Comparison

Sectors	PST	BNDI
Financial Services	69.6%	11.8%
Basic Materials	-	1.8%
Communication Services	-	11.2%
Consumer Cyclical	-	10.1%
Consumer Defensive	-	4.9%
Energy	-	3.5%
Healthcare	-	8.5%
Industrials	-	8.3%
Real Estate	-	1.9%
Technology	-	35.6%
Utilities	-	2.4%

Return for Risk

PST vs. BNDI — Risk / Return Rank

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

PST

PST Risk / Return Rank: 10
PST Sharpe Ratio Rank: 10
PST Sortino Ratio Rank: 9
PST Omega Ratio Rank: 9
PST Calmar Ratio Rank: 10
PST Martin Ratio Rank: 10

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.

PST vs. BNDI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort 7-10 Year Treasury (PST) 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.

	PST	BNDI	Difference
Sharpe ratio: Return per unit of total volatility	0.11	1.69	-1.58
Sortino ratio: Return per unit of downside risk	0.23	2.54	-2.31
Omega ratio: Gain probability vs. loss probability	1.03	1.30	-0.28
Calmar ratio: Return relative to maximum drawdown	0.15	2.56	-2.41
Martin ratio: Return relative to average drawdown	0.26	9.12	-8.86
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PST vs. BNDI - Sharpe Ratio Comparison

The current PST Sharpe Ratio is 0.11, which is lower than the BNDI Sharpe Ratio of 1.69. The chart below compares the historical Sharpe Ratios of PST 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

	PST	BNDI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.11	1.69	-1.58
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.59	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.19	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.37	0.65	-1.02

Drawdowns

PST vs. BNDI - Drawdown Comparison

The maximum PST drawdown since its inception was -79.25%, which is greater than BNDI's maximum drawdown of -6.98%. Use the drawdown chart below to compare losses from any high point for PST and BNDI.

Drawdown Indicators

	PST	BNDI	Difference
Max Drawdown Largest peak-to-trough decline	-79.25%	-6.98%	-72.27%
Max Drawdown (1Y) Largest decline over 1 year	-7.25%	-2.75%	-4.50%
Max Drawdown (3Y) Largest decline over 3 years	-16.19%	-5.83%	-10.36%
Max Drawdown (5Y) Largest decline over 5 years	-16.19%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-36.07%	—	—
Current Drawdown Current decline from peak	-64.13%	-0.84%	-63.29%
Average Drawdown Average peak-to-trough decline	-61.48%	-1.71%	-59.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.16%	0.77%	+3.39%

Volatility

PST vs. BNDI - Volatility Comparison

ProShares UltraShort 7-10 Year Treasury (PST) has a higher volatility of 3.19% compared to Neos Enhanced Income Aggregate Bond ETF (BNDI) at 1.38%. This indicates that PST'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

	PST	BNDI	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.19%	1.38%	+1.81%
Volatility (6M) Calculated over the trailing 6-month period	6.75%	3.08%	+3.67%
Volatility (1Y) Calculated over the trailing 1-year period	9.62%	4.17%	+5.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.60%	6.19%	+9.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.32%	6.19%	+7.13%

PST vs. BNDI - Expense Ratio Comparison

PST has a 0.95% expense ratio, which is higher than BNDI's 0.58% expense ratio.

Dividends

PST vs. BNDI - Dividend Comparison

PST's dividend yield for the trailing twelve months is around 3.08%, less than BNDI's 5.80% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
BNDI Neos Enhanced Income Aggregate Bond ETF	5.80%	5.69%	5.54%	5.17%	1.68%	0.00%	0.00%	0.00%	0.00%
PST ProShares UltraShort 7-10 Year Treasury	3.08%	3.47%	3.61%	3.69%	0.02%	0.00%	0.11%	1.85%	0.66%

Frequently Asked Questions

Can I hold both PST and BNDI in my portfolio?

PST and BNDI have a correlation of -0.91, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PST or BNDI?

PST has higher volatility (3.19%) compared to BNDI (1.38%). In terms of maximum drawdown, PST dropped -79.25% vs BNDI's -6.98%.

Which ETF is better, PST or BNDI?

On 3-year performance, PST leads with 5.59% vs 4.83% 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, PST or BNDI?

Over the 3-year period, PST has performed better with a 5.59% return vs 4.83%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PST or BNDI?

BNDI is cheaper with a 0.58% expense ratio, compared with 0.95% for PST.

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

BNDI has the higher dividend yield at 5.80%, compared with 3.08% for PST.

What is the main difference between PST and BNDI?

PST is categorized as Inverse Bonds, while BNDI is Intermediate Core-Plus Bond. They also come from different issuers: ProShares and Neos. Their fees differ too: 0.95% for PST and 0.58% for BNDI.

Which has better risk-adjusted returns?

BNDI currently has the higher Sharpe Ratio (1.69 vs 0.11), 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.