TLTI vs. BNDI

Last updated Jun 4, 2026

TLTI (NEOS Enhanced Income 20+ Year Treasury Bond ETF) and BNDI (Neos Enhanced Income Aggregate Bond ETF) are both exchange-traded funds - TLTI is a Derivative Income fund actively managed by NEOS Investments, while BNDI is a Intermediate Core-Plus Bond fund actively managed by Neos. Both are actively managed. Over the past year, TLTI returned 6.68% vs 7.00% for BNDI. Their correlation of 0.90 suggests significant overlap in exposure. Both charge a 0.58% expense ratio.

Performance

TLTI vs. BNDI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in NEOS Enhanced Income 20+ Year Treasury Bond ETF (TLTI) 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, TLTI achieves a 0.83% return, which is significantly lower than BNDI's 1.29% return.

TLTI

• 1D: -0.42%
• 1M: 0.91%
• YTD: 0.83%
• 6M: -0.98%
• 1Y: 6.68%
• 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)

TLTI vs. BNDI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
TLTI NEOS Enhanced Income 20+ Year Treasury Bond ETF	0.83%	4.31%	-4.61%
BNDI Neos Enhanced Income Aggregate Bond ETF	1.29%	7.95%	-1.53%

Correlation

The correlation between TLTI and BNDI is 0.89, 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	0.89
Correlation (All Time) Calculated using the full available price history since Dec 12, 2024	0.90

The correlation between TLTI and BNDI has been stable across timeframes, ranging from 0.89 to 0.90 - a consistent structural relationship.

TLTI vs. BNDI - Sectors Allocation Comparison

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

Return for Risk

TLTI vs. BNDI — Risk / Return Rank

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

TLTI

TLTI Risk / Return Rank: 20
TLTI Sharpe Ratio Rank: 20
TLTI Sortino Ratio Rank: 20
TLTI Omega Ratio Rank: 19
TLTI Calmar Ratio Rank: 22
TLTI Martin Ratio Rank: 21

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.

TLTI vs. BNDI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NEOS Enhanced Income 20+ Year Treasury Bond ETF (TLTI) 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.

	TLTI	BNDI	Difference
Sharpe ratio: Return per unit of total volatility	0.71	1.69	-0.98
Sortino ratio: Return per unit of downside risk	1.08	2.54	-1.46
Omega ratio: Gain probability vs. loss probability	1.12	1.30	-0.18
Calmar ratio: Return relative to maximum drawdown	1.02	2.56	-1.54
Martin ratio: Return relative to average drawdown	2.47	9.12	-6.65
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TLTI vs. BNDI - Sharpe Ratio Comparison

The current TLTI Sharpe Ratio is 0.71, which is lower than the BNDI Sharpe Ratio of 1.69. The chart below compares the historical Sharpe Ratios of TLTI 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

	TLTI	BNDI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.71	1.69	-0.98
Sharpe Ratio (All Time) Calculated using the full available price history	0.02	0.65	-0.63

Drawdowns

TLTI vs. BNDI - Drawdown Comparison

The maximum TLTI drawdown since its inception was -8.70%, which is greater than BNDI's maximum drawdown of -6.98%. Use the drawdown chart below to compare losses from any high point for TLTI and BNDI.

Drawdown Indicators

	TLTI	BNDI	Difference
Max Drawdown Largest peak-to-trough decline	-8.70%	-6.98%	-1.72%
Max Drawdown (1Y) Largest decline over 1 year	-6.60%	-2.75%	-3.85%
Max Drawdown (3Y) Largest decline over 3 years	—	-5.83%	—
Current Drawdown Current decline from peak	-3.70%	-0.84%	-2.86%
Average Drawdown Average peak-to-trough decline	-3.51%	-1.71%	-1.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.71%	0.77%	+1.94%

Volatility

TLTI vs. BNDI - Volatility Comparison

NEOS Enhanced Income 20+ Year Treasury Bond ETF (TLTI) has a higher volatility of 2.80% compared to Neos Enhanced Income Aggregate Bond ETF (BNDI) at 1.38%. This indicates that TLTI'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

	TLTI	BNDI	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.80%	1.38%	+1.42%
Volatility (6M) Calculated over the trailing 6-month period	6.43%	3.08%	+3.35%
Volatility (1Y) Calculated over the trailing 1-year period	9.48%	4.17%	+5.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.15%	6.19%	+4.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.15%	6.19%	+4.96%

TLTI vs. BNDI - Expense Ratio Comparison

Both TLTI and BNDI have an expense ratio of 0.58%.

Dividends

TLTI vs. BNDI - Dividend Comparison

TLTI's dividend yield for the trailing twelve months is around 6.31%, 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%
TLTI NEOS Enhanced Income 20+ Year Treasury Bond ETF	6.31%	6.33%	0.57%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TLTI and BNDI in my portfolio?

TLTI and BNDI have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TLTI or BNDI?

TLTI has higher volatility (2.80%) compared to BNDI (1.38%). In terms of maximum drawdown, TLTI dropped -8.70% vs BNDI's -6.98%.

Which ETF is better, TLTI or BNDI?

On 1-year performance, BNDI leads with 7.00% vs 6.68% for TLTI. Both ETFs have the same 0.58% expense ratio. 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, TLTI or BNDI?

Over the 1-year period, BNDI has performed better with a 7.00% return vs 6.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TLTI or BNDI?

TLTI and BNDI have the same expense ratio: 0.58% per year.

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

TLTI has the higher dividend yield at 6.31%, compared with 5.80% for BNDI.

What is the main difference between TLTI and BNDI?

TLTI is categorized as Derivative Income, while BNDI is Intermediate Core-Plus Bond. They also come from different issuers: NEOS Investments and Neos.

Which has better risk-adjusted returns?

BNDI currently has the higher Sharpe Ratio (1.69 vs 0.71), 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.