NICO vs. PBJ

Last updated Jul 8, 2026

NICO (Hexis Active Nicotine Engagement ETF) and PBJ (Invesco Dynamic Food & Beverage ETF) are both Consumer Staples Equities funds. NICO is actively managed, while PBJ is passively managed. At a 0.48 correlation, their price movements are largely independent. NICO charges 0.70%/yr vs 0.63%/yr for PBJ.

Performance

NICO vs. PBJ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hexis Active Nicotine Engagement ETF (NICO) and Invesco Dynamic Food & Beverage ETF (PBJ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

NICO

• 1D: 0.73%
• 1M: 2.38%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

PBJ

• 1D: 0.56%
• 1M: 0.95%
• 6M: 9.17%
• YTD: 8.18%
• 1Y: 1.37%
• 3Y*: 3.80%
• 5Y*: 4.75%
• 10Y*: 4.83%

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

NICO vs. PBJ - Yearly Performance Comparison

	2026 (YTD)
NICO Hexis Active Nicotine Engagement ETF	3.40%
PBJ Invesco Dynamic Food & Beverage ETF	-3.48%

Correlation

The correlation between NICO and PBJ is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 6, 2026	0.48

Return for Risk

NICO vs. PBJ — Risk / Return Rank

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

NICO

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

PBJ

PBJ Risk / Return Rank: 10
PBJ Sharpe Ratio Rank: 11
PBJ Sortino Ratio Rank: 9
PBJ Omega Ratio Rank: 10
PBJ Calmar Ratio Rank: 10
PBJ Martin Ratio Rank: 10

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.

NICO vs. PBJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hexis Active Nicotine Engagement ETF (NICO) and Invesco Dynamic Food & Beverage ETF (PBJ). 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.

	NICO	PBJ	Difference
Sharpe ratio: Return per unit of total volatility	—	0.11	—
Sortino ratio: Return per unit of downside risk	—	0.24	—
Omega ratio: Gain probability vs. loss probability	—	1.03	—
Calmar ratio: Return relative to maximum drawdown	—	0.11	—
Martin ratio: Return relative to average drawdown	—	0.25	—

Drawdowns

NICO vs. PBJ - Drawdown Comparison

The maximum NICO drawdown since its inception was -8.00%, smaller than the maximum PBJ drawdown of -39.15%. Use the drawdown chart below to compare losses from any high point for NICO and PBJ.

Drawdown Indicators

	NICO	PBJ	Difference
Max Drawdown Largest peak-to-trough decline	-8.00%	-39.15%	+31.15%
Max Drawdown (1Y) Largest decline over 1 year	—	-12.48%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-12.99%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-15.81%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-28.49%	—
Current Drawdown Current decline from peak	-3.58%	-4.90%	+1.32%
Average Drawdown Average peak-to-trough decline	-3.86%	-5.40%	+1.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	5.53%	—

Volatility

Volatility by Period

	NICO	PBJ	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.74%	—
Volatility (6M) Calculated over the trailing 6-month period	—	9.74%	—
Volatility (1Y) Calculated over the trailing 1-year period	20.02%	12.76%	+7.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.02%	13.81%	+6.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.02%	15.11%	+4.91%

NICO vs. PBJ - Expense Ratio Comparison

NICO has a 0.70% expense ratio, which is higher than PBJ's 0.63% expense ratio.

Dividends

NICO vs. PBJ - Dividend Comparison

NICO has not paid dividends to shareholders, while PBJ's dividend yield for the trailing twelve months is around 1.27%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NICO Hexis Active Nicotine Engagement ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PBJ Invesco Dynamic Food & Beverage ETF	1.27%	1.83%	1.11%	1.81%	1.82%	0.90%	1.12%	1.21%	1.41%	0.70%	1.56%	1.24%

Frequently Asked Questions

Can I hold both NICO and PBJ in my portfolio?

NICO and PBJ have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, NICO or PBJ?

On fees, PBJ is cheaper at 0.63% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, NICO or PBJ?

PBJ is cheaper with a 0.63% expense ratio, compared with 0.70% for NICO.

Which ETF pays a higher dividend yield, NICO or PBJ?

PBJ has the higher dividend yield at 1.27%, compared with 0.00% for NICO.

What is the main difference between NICO and PBJ?

They also come from different issuers: Hexis and Invesco. Their fees differ too: 0.70% for NICO and 0.63% for PBJ.