VBND vs. BNDI

Last updated Jun 24, 2026

VBND (Vident U.S. Bond Strategy ETF) and BNDI (Neos Enhanced Income Aggregate Bond ETF) are both Intermediate Core-Plus Bond funds. VBND is passively managed, while BNDI is actively managed. Over the past 3 years, VBND returned 4.70%/yr vs 4.85%/yr for BNDI. Their correlation of 0.89 suggests significant overlap in exposure. VBND charges 0.41%/yr vs 0.58%/yr for BNDI.

Performance

VBND vs. BNDI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vident U.S. Bond Strategy ETF (VBND) 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, VBND achieves a 0.64% return, which is significantly lower than BNDI's 1.50% return.

VBND

• 1D: 0.25%
• 1M: 1.20%
• YTD: 0.64%
• 6M: 1.12%
• 1Y: 4.87%
• 3Y*: 4.70%
• 5Y*: 0.42%
• 10Y*: 1.56%

BNDI

• 1D: 0.00%
• 1M: 0.63%
• YTD: 1.50%
• 6M: 1.56%
• 1Y: 6.13%
• 3Y*: 4.85%
• 5Y*: —
• 10Y*: —

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

VBND vs. BNDI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
VBND Vident U.S. Bond Strategy ETF	0.64%	7.31%	1.26%	8.16%	-3.26%
BNDI Neos Enhanced Income Aggregate Bond ETF	1.50%	7.95%	1.74%	6.89%	-2.88%

Correlation

The correlation between VBND and BNDI is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.77
Correlation (3Y) Calculated over the trailing 3-year period	0.86
Correlation (All Time) Calculated using the full available price history since Aug 30, 2022	0.89

The correlation between VBND and BNDI shifts across timeframes, from 0.77 (1 year) to 0.89 (all time), reflecting how their relationship changes across market environments.

Return for Risk

VBND vs. BNDI — Risk / Return Rank

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

VBND

VBND Risk / Return Rank: 34
VBND Sharpe Ratio Rank: 34
VBND Sortino Ratio Rank: 34
VBND Omega Ratio Rank: 31
VBND Calmar Ratio Rank: 36
VBND Martin Ratio Rank: 33

BNDI

BNDI Risk / Return Rank: 45
BNDI Sharpe Ratio Rank: 43
BNDI Sortino Ratio Rank: 46
BNDI Omega Ratio Rank: 42
BNDI Calmar Ratio Rank: 47
BNDI Martin Ratio Rank: 48

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.

VBND vs. BNDI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vident U.S. Bond Strategy ETF (VBND) 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.

	VBND	BNDI	Difference
Sharpe ratio: Return per unit of total volatility	1.15	1.45	-0.30
Sortino ratio: Return per unit of downside risk	1.74	2.21	-0.47
Omega ratio: Gain probability vs. loss probability	1.20	1.26	-0.06
Calmar ratio: Return relative to maximum drawdown	1.73	2.24	-0.51
Martin ratio: Return relative to average drawdown	4.59	7.76	-3.17

VBND vs. BNDI - Sharpe Ratio Comparison

The current VBND Sharpe Ratio is 1.15, which is comparable to the BNDI Sharpe Ratio of 1.45. The chart below compares the historical Sharpe Ratios of VBND 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.

Drawdowns

VBND vs. BNDI - Drawdown Comparison

The maximum VBND drawdown since its inception was -18.97%, which is greater than BNDI's maximum drawdown of -7.25%. Use the drawdown chart below to compare losses from any high point for VBND and BNDI.

Drawdown Indicators

	VBND	BNDI	Difference
Max Drawdown Largest peak-to-trough decline	-18.97%	-7.25%	-11.72%
Max Drawdown (1Y) Largest decline over 1 year	-2.82%	-2.75%	-0.07%
Max Drawdown (3Y) Largest decline over 3 years	-4.60%	-5.83%	+1.23%
Max Drawdown (5Y) Largest decline over 5 years	-18.97%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-18.97%	—	—
Current Drawdown Current decline from peak	-0.62%	-0.64%	+0.02%
Average Drawdown Average peak-to-trough decline	-4.19%	-1.72%	-2.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.06%	0.79%	+0.27%

Volatility

VBND vs. BNDI - Volatility Comparison

The current volatility for Vident U.S. Bond Strategy ETF (VBND) is 1.10%, while Neos Enhanced Income Aggregate Bond ETF (BNDI) has a volatility of 1.43%. This indicates that VBND experiences smaller price fluctuations and is considered to be less risky than BNDI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VBND	BNDI	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.10%	1.43%	-0.33%
Volatility (6M) Calculated over the trailing 6-month period	2.96%	3.28%	-0.32%
Volatility (1Y) Calculated over the trailing 1-year period	4.26%	4.25%	+0.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.11%	6.18%	-0.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.46%	6.18%	-0.72%

VBND vs. BNDI - Expense Ratio Comparison

VBND has a 0.41% expense ratio, which is lower than BNDI's 0.58% expense ratio.

Dividends

VBND vs. BNDI - Dividend Comparison

VBND's dividend yield for the trailing twelve months is around 4.25%, less than BNDI's 6.30% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BNDI Neos Enhanced Income Aggregate Bond ETF	6.30%	5.69%	5.54%	5.17%	1.68%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VBND Vident U.S. Bond Strategy ETF	4.25%	4.22%	4.41%	3.88%	2.55%	1.56%	1.98%	3.14%	2.82%	2.00%	3.12%	1.49%

Frequently Asked Questions

Can I hold both VBND and BNDI in my portfolio?

VBND and BNDI have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VBND or BNDI?

BNDI has higher volatility (1.43%) compared to VBND (1.10%). In terms of maximum drawdown, VBND dropped -18.97% vs BNDI's -7.25%.

Which ETF is better, VBND or BNDI?

On 3-year performance, BNDI leads with 4.85% vs 4.70% for VBND. On fees, VBND is cheaper at 0.41% per year. On volatility, VBND has been the lower-risk option at 1.10%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VBND or BNDI?

Over the 3-year period, BNDI has performed better with a 4.85% return vs 4.70%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VBND or BNDI?

VBND is cheaper with a 0.41% expense ratio, compared with 0.58% for BNDI.

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

BNDI has the higher dividend yield at 6.30%, compared with 4.25% for VBND.

What is the main difference between VBND and BNDI?

They also come from different issuers: Vident and Neos. Their fees differ too: 0.41% for VBND and 0.58% for BNDI.

Which has better risk-adjusted returns?

BNDI currently has the higher Sharpe Ratio (1.45 vs 1.15), 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.