IAK vs. PEP
IAK (iShares U.S. Insurance ETF) is Financials Equities fund tracking the Dow Jones U.S. Select Insurance Index, while PEP (PepsiCo, Inc.) is a stock. Over the past 10 years, IAK returned 11.74%/yr vs 6.40%/yr for PEP. At a 0.40 correlation, their price movements are largely independent.
Performance
IAK vs. PEP - Performance Comparison
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Returns By Period
In the year-to-date period, IAK achieves a -3.44% return, which is significantly lower than PEP's -0.07% return. Over the past 10 years, IAK has outperformed PEP with an annualized return of 11.74%, while PEP has yielded a comparatively lower 6.40% annualized return.
IAK
- 1D
- 1.17%
- 1M
- -1.45%
- YTD
- -3.44%
- 6M
- -0.51%
- 1Y
- -1.63%
- 3Y*
- 17.40%
- 5Y*
- 11.77%
- 10Y*
- 11.74%
PEP
- 1D
- -0.27%
- 1M
- -8.31%
- YTD
- -0.07%
- 6M
- -1.42%
- 1Y
- 12.22%
- 3Y*
- -5.35%
- 5Y*
- 2.20%
- 10Y*
- 6.40%
IAK vs. PEP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IAK iShares U.S. Insurance ETF | -3.44% | 9.50% | 28.25% | 11.28% | 11.33% | 26.84% | -2.86% | 25.94% | -11.48% | 14.18% |
PEP PepsiCo, Inc. | -0.07% | -1.85% | -7.60% | -3.29% | 6.78% | 20.56% | 11.67% | 27.38% | -4.81% | 17.82% |
Correlation
The correlation between IAK and PEP is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.29 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.34 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.33 |
Correlation (All Time) Calculated using the full available price history since May 8, 2006 | 0.40 |
Over the past year, the correlation between IAK and PEP has dropped to 0.20 - well below their long-term average of 0.40, suggesting their price drivers have been diverging.
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Return for Risk
IAK vs. PEP — Risk / Return Rank
IAK
PEP
IAK vs. PEP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Insurance ETF (IAK) and PepsiCo, Inc. (PEP). 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.
| IAK | PEP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.68 | ||
| Sortino ratioReturn per unit of downside risk | -1.08 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.11 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | -0.22 | 0.76 | -0.97 |
| Martin ratioReturn relative to average drawdown | -0.45 | 2.06 | -2.50 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IAK | PEP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.11 | 0.57 | -0.68 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.65 | 0.12 | +0.53 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.56 | 0.33 | +0.24 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.26 | 0.38 | -0.12 |
Drawdowns
IAK vs. PEP - Drawdown Comparison
The maximum IAK drawdown since its inception was -77.38%, roughly equal to the maximum PEP drawdown of -73.92%. Use the drawdown chart below to compare losses from any high point for IAK and PEP.
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Drawdown Indicators
| IAK | PEP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.38% | -73.92% | -3.46% |
Max Drawdown (1Y)Largest decline over 1 year | -7.62% | -16.25% | +8.63% |
Max Drawdown (3Y)Largest decline over 3 years | -11.58% | -29.17% | +17.59% |
Max Drawdown (5Y)Largest decline over 5 years | -14.76% | -30.32% | +15.56% |
Max Drawdown (10Y)Largest decline over 10 years | -44.95% | -30.32% | -14.63% |
Current DrawdownCurrent decline from peak | -4.72% | -19.80% | +15.08% |
Average DrawdownAverage peak-to-trough decline | -16.13% | -13.65% | -2.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.66% | 5.96% | -2.30% |
Volatility
IAK vs. PEP - Volatility Comparison
The current volatility for iShares U.S. Insurance ETF (IAK) is 4.00%, while PepsiCo, Inc. (PEP) has a volatility of 6.32%. This indicates that IAK experiences smaller price fluctuations and is considered to be less risky than PEP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IAK | PEP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.00% | 6.32% | -2.32% |
Volatility (6M)Calculated over the trailing 6-month period | 10.05% | 14.89% | -4.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.81% | 21.70% | -6.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.08% | 18.38% | -0.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.89% | 19.66% | +1.23% |
Dividends
IAK vs. PEP - Dividend Comparison
IAK's dividend yield for the trailing twelve months is around 2.72%, less than PEP's 4.00% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IAK iShares U.S. Insurance ETF | 2.72% | 1.69% | 1.49% | 1.44% | 1.69% | 2.26% | 2.07% | 1.84% | 2.33% | 1.62% | 1.68% | 1.62% |
PEP PepsiCo, Inc. | 4.00% | 3.92% | 3.51% | 2.91% | 2.50% | 2.45% | 2.71% | 2.77% | 3.25% | 2.64% | 2.83% | 2.76% |
Frequently Asked Questions
IAK and PEP have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PEP has higher volatility (6.32%) compared to IAK (4.00%). In terms of maximum drawdown, IAK dropped -77.38% vs PEP's -73.92%.
PEP currently has the higher Sharpe Ratio (0.57 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.
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