VPLS vs. BNDI

Last updated Jun 4, 2026

VPLS (Vanguard Core-Plus Bond ETF) and BNDI (Neos Enhanced Income Aggregate Bond ETF) are both Intermediate Core-Plus Bond funds. Both are actively managed. Over the past year, VPLS returned 5.91% vs 7.00% for BNDI. Their correlation of 0.95 suggests significant overlap in exposure. VPLS charges 0.20%/yr vs 0.58%/yr for BNDI.

Performance

VPLS vs. BNDI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Core-Plus Bond ETF (VPLS) 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, VPLS achieves a 0.64% return, which is significantly lower than BNDI's 1.29% return.

VPLS

• 1D: -0.21%
• 1M: 0.35%
• YTD: 0.64%
• 6M: 0.57%
• 1Y: 5.91%
• 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)

VPLS vs. BNDI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
VPLS Vanguard Core-Plus Bond ETF	0.64%	7.86%	2.72%	2.82%
BNDI Neos Enhanced Income Aggregate Bond ETF	1.29%	7.95%	1.74%	2.12%

Correlation

The correlation between VPLS and BNDI is 0.95, 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	0.95
Correlation (All Time) Calculated using the full available price history since Dec 8, 2023	0.95

The correlation between VPLS and BNDI has been stable across timeframes, ranging from 0.95 to 0.95 - a consistent structural relationship.

VPLS vs. BNDI - Sectors Allocation Comparison

Sectors	VPLS	BNDI
Financial Services	0.9%	11.8%
Technology	0.1%	35.6%
Energy	0.0%	3.5%
Real Estate	0.0%	1.9%
Basic Materials	-	1.8%
Communication Services	-	11.2%
Consumer Cyclical	-	10.1%
Consumer Defensive	-	4.9%
Healthcare	-	8.5%
Industrials	-	8.3%
Utilities	-	2.4%

Return for Risk

VPLS vs. BNDI — Risk / Return Rank

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

VPLS

VPLS Risk / Return Rank: 45
VPLS Sharpe Ratio Rank: 46
VPLS Sortino Ratio Rank: 49
VPLS Omega Ratio Rank: 45
VPLS Calmar Ratio Rank: 43
VPLS Martin Ratio Rank: 43

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.

VPLS vs. BNDI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Core-Plus Bond ETF (VPLS) 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.

	VPLS	BNDI	Difference
Sharpe ratio: Return per unit of total volatility	1.63	1.69	-0.06
Sortino ratio: Return per unit of downside risk	2.42	2.54	-0.12
Omega ratio: Gain probability vs. loss probability	1.29	1.30	-0.01
Calmar ratio: Return relative to maximum drawdown	2.18	2.56	-0.38
Martin ratio: Return relative to average drawdown	7.10	9.12	-2.01
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VPLS vs. BNDI - Sharpe Ratio Comparison

The current VPLS Sharpe Ratio is 1.63, which is comparable to the BNDI Sharpe Ratio of 1.69. The chart below compares the historical Sharpe Ratios of VPLS 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

	VPLS	BNDI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.63	1.69	-0.06
Sharpe Ratio (All Time) Calculated using the full available price history	1.24	0.65	+0.59

Drawdowns

VPLS vs. BNDI - Drawdown Comparison

The maximum VPLS drawdown since its inception was -4.17%, smaller than the maximum BNDI drawdown of -6.98%. Use the drawdown chart below to compare losses from any high point for VPLS and BNDI.

Drawdown Indicators

	VPLS	BNDI	Difference
Max Drawdown Largest peak-to-trough decline	-4.17%	-6.98%	+2.81%
Max Drawdown (1Y) Largest decline over 1 year	-2.72%	-2.75%	+0.03%
Max Drawdown (3Y) Largest decline over 3 years	—	-5.83%	—
Current Drawdown Current decline from peak	-1.21%	-0.84%	-0.37%
Average Drawdown Average peak-to-trough decline	-1.01%	-1.71%	+0.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.83%	0.77%	+0.06%

Volatility

VPLS vs. BNDI - Volatility Comparison

The current volatility for Vanguard Core-Plus Bond ETF (VPLS) is 1.27%, while Neos Enhanced Income Aggregate Bond ETF (BNDI) has a volatility of 1.38%. This indicates that VPLS 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

	VPLS	BNDI	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.27%	1.38%	-0.11%
Volatility (6M) Calculated over the trailing 6-month period	2.69%	3.08%	-0.39%
Volatility (1Y) Calculated over the trailing 1-year period	3.65%	4.17%	-0.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.61%	6.19%	-1.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.61%	6.19%	-1.58%

VPLS vs. BNDI - Expense Ratio Comparison

VPLS has a 0.20% expense ratio, which is lower than BNDI's 0.58% expense ratio.

Dividends

VPLS vs. BNDI - Dividend Comparison

VPLS's dividend yield for the trailing twelve months is around 4.76%, less 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%
VPLS Vanguard Core-Plus Bond ETF	4.76%	4.78%	4.52%	0.18%	0.00%

Frequently Asked Questions

Can I hold both VPLS and BNDI in my portfolio?

With a correlation of 0.95, VPLS and BNDI move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, VPLS or BNDI?

BNDI has higher volatility (1.38%) compared to VPLS (1.27%). In terms of maximum drawdown, VPLS dropped -4.17% vs BNDI's -6.98%.

Which ETF is better, VPLS or BNDI?

On 1-year performance, BNDI leads with 7.00% vs 5.91% for VPLS. On fees, VPLS is cheaper at 0.20% per year. On volatility, VPLS has been the lower-risk option at 1.27%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VPLS or BNDI?

Over the 1-year period, BNDI has performed better with a 7.00% return vs 5.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VPLS or BNDI?

VPLS is cheaper with a 0.20% expense ratio, compared with 0.58% for BNDI.

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

BNDI has the higher dividend yield at 5.80%, compared with 4.76% for VPLS.

What is the main difference between VPLS and BNDI?

They also come from different issuers: Vanguard and Neos. Their fees differ too: 0.20% for VPLS and 0.58% for BNDI.

Which has better risk-adjusted returns?

BNDI currently has the higher Sharpe Ratio (1.69 vs 1.63), 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.