PBJ vs. MCD

Last updated Jun 24, 2026

PBJ (Invesco Dynamic Food & Beverage ETF) is Consumer Staples Equities fund tracking the Dynamic Food & Beverage Intellidex Index, while MCD (McDonald's Corporation) is a stock. Over the past 10 years, PBJ returned 5.17%/yr vs 11.21%/yr for MCD. A 0.51 correlation means they provide meaningful diversification when combined.

Performance

PBJ vs. MCD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Dynamic Food & Beverage ETF (PBJ) and McDonald's Corporation (MCD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PBJ achieves a 5.32% return, which is significantly higher than MCD's -10.01% return. Over the past 10 years, PBJ has underperformed MCD with an annualized return of 5.17%, while MCD has yielded a comparatively higher 11.21% annualized return.

PBJ

• 1D: 1.57%
• 1M: -2.97%
• YTD: 5.32%
• 6M: 4.88%
• 1Y: -0.24%
• 3Y*: 2.47%
• 5Y*: 3.75%
• 10Y*: 5.17%

MCD

• 1D: 0.58%
• 1M: -3.11%
• YTD: -10.01%
• 6M: -11.52%
• 1Y: -3.89%
• 3Y*: 0.19%
• 5Y*: 5.48%
• 10Y*: 11.21%

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

PBJ vs. MCD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PBJ Invesco Dynamic Food & Beverage ETF	5.32%	-1.86%	2.49%	2.31%	3.14%	26.88%	5.53%	17.50%	-11.21%	1.87%
MCD McDonald's Corporation	-10.01%	7.89%	0.14%	15.06%	0.51%	27.79%	11.30%	13.97%	5.78%	45.05%

Correlation

The correlation between PBJ and MCD is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.46
Correlation (3Y) Calculated over the trailing 3-year period	0.44
Correlation (5Y) Calculated over the trailing 5-year period	0.49
Correlation (10Y) Calculated over the trailing 10-year period	0.47
Correlation (All Time) Calculated using the full available price history since Jun 23, 2005	0.51

The correlation between PBJ and MCD has been stable across timeframes, ranging from 0.44 to 0.51 - a consistent structural relationship.

Return for Risk

PBJ vs. MCD — Risk / Return Rank

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

PBJ

PBJ Risk / Return Rank: 8
PBJ Sharpe Ratio Rank: 9
PBJ Sortino Ratio Rank: 8
PBJ Omega Ratio Rank: 8
PBJ Calmar Ratio Rank: 8
PBJ Martin Ratio Rank: 8

MCD

MCD Risk / Return Rank: 31
MCD Sharpe Ratio Rank: 33
MCD Sortino Ratio Rank: 27
MCD Omega Ratio Rank: 27
MCD Calmar Ratio Rank: 36
MCD Martin Ratio Rank: 33

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.

PBJ vs. MCD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Dynamic Food & Beverage ETF (PBJ) and McDonald's Corporation (MCD). 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.

	PBJ	MCD	Difference
Sharpe ratio: Return per unit of total volatility	-0.02	-0.23	+0.21
Sortino ratio: Return per unit of downside risk	0.06	-0.21	+0.27
Omega ratio: Gain probability vs. loss probability	1.01	0.98	+0.03
Calmar ratio: Return relative to maximum drawdown	-0.02	-0.20	+0.18
Martin ratio: Return relative to average drawdown	-0.04	-0.49	+0.45

PBJ vs. MCD - Sharpe Ratio Comparison

The current PBJ Sharpe Ratio is -0.02, which is higher than the MCD Sharpe Ratio of -0.23. The chart below compares the historical Sharpe Ratios of PBJ and MCD, 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

PBJ vs. MCD - Drawdown Comparison

The maximum PBJ drawdown since its inception was -39.15%, smaller than the maximum MCD drawdown of -73.20%. Use the drawdown chart below to compare losses from any high point for PBJ and MCD.

Drawdown Indicators

	PBJ	MCD	Difference
Max Drawdown Largest peak-to-trough decline	-39.15%	-73.20%	+34.05%
Max Drawdown (1Y) Largest decline over 1 year	-12.48%	-19.82%	+7.34%
Max Drawdown (3Y) Largest decline over 3 years	-12.99%	-19.82%	+6.83%
Max Drawdown (5Y) Largest decline over 5 years	-15.81%	-19.82%	+4.01%
Max Drawdown (10Y) Largest decline over 10 years	-28.49%	-36.90%	+8.41%
Current Drawdown Current decline from peak	-7.42%	-19.36%	+11.94%
Average Drawdown Average peak-to-trough decline	-5.39%	-14.90%	+9.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.41%	7.91%	-2.50%

Volatility

PBJ vs. MCD - Volatility Comparison

The current volatility for Invesco Dynamic Food & Beverage ETF (PBJ) is 4.33%, while McDonald's Corporation (MCD) has a volatility of 5.81%. This indicates that PBJ experiences smaller price fluctuations and is considered to be less risky than MCD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PBJ	MCD	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.33%	5.81%	-1.48%
Volatility (6M) Calculated over the trailing 6-month period	9.40%	12.43%	-3.03%
Volatility (1Y) Calculated over the trailing 1-year period	12.74%	16.88%	-4.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.77%	17.34%	-3.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.13%	20.44%	-5.31%

Dividends

PBJ vs. MCD - Dividend Comparison

PBJ's dividend yield for the trailing twelve months is around 1.30%, less than MCD's 2.71% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MCD McDonald's Corporation	2.71%	2.35%	2.34%	2.10%	2.15%	1.96%	2.35%	2.39%	2.36%	2.23%	2.97%	2.91%
PBJ Invesco Dynamic Food & Beverage ETF	1.30%	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 PBJ and MCD in my portfolio?

PBJ and MCD have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PBJ or MCD?

MCD has higher volatility (5.81%) compared to PBJ (4.33%). In terms of maximum drawdown, PBJ dropped -39.15% vs MCD's -73.20%.

Which has better risk-adjusted returns?

PBJ currently has the higher Sharpe Ratio (-0.02 vs -0.23), 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.