PBJ vs. CVX
PBJ (Invesco Dynamic Food & Beverage ETF) is Consumer Staples Equities fund tracking the Dynamic Food & Beverage Intellidex Index, while CVX (Chevron Corporation) is a stock. Over the past 10 years, PBJ returned 5.27%/yr vs 11.15%/yr for CVX. At a 0.43 correlation, their price movements are largely independent.
Performance
PBJ vs. CVX - Performance Comparison
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Returns By Period
In the year-to-date period, PBJ achieves a 6.38% return, which is significantly lower than CVX's 26.84% return. Over the past 10 years, PBJ has underperformed CVX with an annualized return of 5.27%, while CVX has yielded a comparatively higher 11.15% annualized return.
PBJ
- 1D
- -0.35%
- 1M
- -4.27%
- YTD
- 6.38%
- 6M
- 5.80%
- 1Y
- 0.42%
- 3Y*
- 2.79%
- 5Y*
- 3.14%
- 10Y*
- 5.27%
CVX
- 1D
- 1.15%
- 1M
- -0.43%
- YTD
- 26.84%
- 6M
- 27.53%
- 1Y
- 41.64%
- 3Y*
- 11.27%
- 5Y*
- 16.52%
- 10Y*
- 11.15%
PBJ vs. CVX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PBJ Invesco Dynamic Food & Beverage ETF | 6.38% | -1.86% | 2.49% | 2.31% | 3.14% | 26.88% | 5.53% | 17.50% | -11.21% | 1.87% |
CVX Chevron Corporation | 26.84% | 10.10% | 1.29% | -13.63% | 58.46% | 46.24% | -25.95% | 15.27% | -9.75% | 10.59% |
Correlation
The correlation between PBJ and CVX is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.24 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.31 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.34 |
Correlation (All Time) Calculated using the full available price history since Jun 24, 2005 | 0.43 |
Over the past year, the correlation between PBJ and CVX has dropped to 0.13 - well below their long-term average of 0.43, suggesting their price drivers have been diverging.
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Return for Risk
PBJ vs. CVX — Risk / Return Rank
PBJ
CVX
PBJ vs. CVX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Dynamic Food & Beverage ETF (PBJ) and Chevron Corporation (CVX). 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.
| PBJ | CVX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.86 | ||
| Sortino ratioReturn per unit of downside risk | -2.35 | ||
| Omega ratioGain probability vs. loss probability | 1.02 | 1.32 | -0.31 |
| Calmar ratioReturn relative to maximum drawdown | 0.03 | 2.99 | -2.96 |
| Martin ratioReturn relative to average drawdown | 0.08 | 7.70 | -7.62 |
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
| PBJ | CVX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.03 | 1.90 | -1.86 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.23 | 0.66 | -0.43 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.35 | 0.38 | -0.03 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.46 | 0.38 | +0.08 |
Drawdowns
PBJ vs. CVX - Drawdown Comparison
The maximum PBJ drawdown since its inception was -39.15%, smaller than the maximum CVX drawdown of -55.77%. Use the drawdown chart below to compare losses from any high point for PBJ and CVX.
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Drawdown Indicators
| PBJ | CVX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.15% | -55.77% | +16.62% |
Max Drawdown (1Y)Largest decline over 1 year | -12.48% | -13.99% | +1.51% |
Max Drawdown (3Y)Largest decline over 3 years | -12.99% | -20.64% | +7.65% |
Max Drawdown (5Y)Largest decline over 5 years | -15.81% | -24.95% | +9.14% |
Max Drawdown (10Y)Largest decline over 10 years | -28.49% | -55.77% | +27.28% |
Current DrawdownCurrent decline from peak | -6.48% | -9.33% | +2.85% |
Average DrawdownAverage peak-to-trough decline | -5.39% | -11.39% | +6.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.22% | 5.42% | -0.20% |
Volatility
PBJ vs. CVX - Volatility Comparison
The current volatility for Invesco Dynamic Food & Beverage ETF (PBJ) is 3.74%, while Chevron Corporation (CVX) has a volatility of 8.29%. This indicates that PBJ experiences smaller price fluctuations and is considered to be less risky than CVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PBJ | CVX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.74% | 8.29% | -4.55% |
Volatility (6M)Calculated over the trailing 6-month period | 8.80% | 17.82% | -9.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.48% | 22.10% | -9.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.75% | 25.12% | -11.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.11% | 29.16% | -14.05% |
Dividends
PBJ vs. CVX - Dividend Comparison
PBJ's dividend yield for the trailing twelve months is around 1.58%, less than CVX's 3.68% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CVX Chevron Corporation | 3.68% | 4.49% | 4.50% | 4.05% | 3.16% | 4.52% | 6.11% | 3.95% | 4.12% | 3.45% | 3.64% | 4.76% |
PBJ Invesco Dynamic Food & Beverage ETF | 1.58% | 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
PBJ and CVX have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CVX has higher volatility (8.29%) compared to PBJ (3.74%). In terms of maximum drawdown, PBJ dropped -39.15% vs CVX's -55.77%.
CVX currently has the higher Sharpe Ratio (1.90 vs 0.03), 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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