PBJ vs. REZ
PBJ (Invesco Dynamic Food & Beverage ETF) and REZ (iShares Residential Real Estate ETF) are both exchange-traded funds - PBJ is a Consumer Staples Equities fund tracking the Dynamic Food & Beverage Intellidex Index, while REZ is a REIT fund tracking the FTSE NAREIT All Residential Capped Index. Both are passively managed. Over the past 10 years, PBJ returned 5.00%/yr vs 6.61%/yr for REZ. A 0.52 correlation means they provide meaningful diversification when combined. PBJ charges 0.63%/yr vs 0.48%/yr for REZ.
Performance
PBJ vs. REZ - Performance Comparison
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Returns By Period
In the year-to-date period, PBJ achieves a 3.69% return, which is significantly lower than REZ's 9.54% return. Over the past 10 years, PBJ has underperformed REZ with an annualized return of 5.00%, while REZ has yielded a comparatively higher 6.61% annualized return.
PBJ
- 1D
- -0.48%
- 1M
- -4.46%
- YTD
- 3.69%
- 6M
- 2.53%
- 1Y
- -0.53%
- 3Y*
- 1.94%
- 5Y*
- 3.52%
- 10Y*
- 5.00%
REZ
- 1D
- 1.06%
- 1M
- -1.63%
- YTD
- 9.54%
- 6M
- 9.75%
- 1Y
- 12.37%
- 3Y*
- 11.60%
- 5Y*
- 3.90%
- 10Y*
- 6.61%
PBJ vs. REZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PBJ Invesco Dynamic Food & Beverage ETF | 3.69% | -1.86% | 2.49% | 2.31% | 3.14% | 26.88% | 5.53% | 17.50% | -11.21% | 1.87% |
REZ iShares Residential Real Estate ETF | 9.54% | 4.80% | 12.73% | 10.97% | -28.31% | 47.86% | -6.62% | 24.49% | 3.89% | 3.87% |
Correlation
The correlation between PBJ and REZ is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.45 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.48 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.51 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.48 |
Correlation (All Time) Calculated using the full available price history since May 4, 2007 | 0.52 |
The correlation between PBJ and REZ has been stable across timeframes, ranging from 0.45 to 0.52 - a consistent structural relationship.
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Return for Risk
PBJ vs. REZ — Risk / Return Rank
PBJ
REZ
PBJ vs. REZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Dynamic Food & Beverage ETF (PBJ) and iShares Residential Real Estate ETF (REZ). 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 | REZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.87 | ||
| Sortino ratioReturn per unit of downside risk | -1.17 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.15 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | -0.04 | 1.42 | -1.46 |
| Martin ratioReturn relative to average drawdown | -0.10 | 4.29 | -4.38 |
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Drawdowns
PBJ vs. REZ - Drawdown Comparison
The maximum PBJ drawdown since its inception was -39.15%, smaller than the maximum REZ drawdown of -66.87%. Use the drawdown chart below to compare losses from any high point for PBJ and REZ.
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Drawdown Indicators
| PBJ | REZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.15% | -66.87% | +27.72% |
Max Drawdown (1Y)Largest decline over 1 year | -12.48% | -8.76% | -3.72% |
Max Drawdown (3Y)Largest decline over 3 years | -12.99% | -18.39% | +5.40% |
Max Drawdown (5Y)Largest decline over 5 years | -15.81% | -35.05% | +19.24% |
Max Drawdown (10Y)Largest decline over 10 years | -28.49% | -44.15% | +15.66% |
Current DrawdownCurrent decline from peak | -8.85% | -2.45% | -6.40% |
Average DrawdownAverage peak-to-trough decline | -5.39% | -12.66% | +7.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.39% | 2.89% | +2.50% |
Volatility
PBJ vs. REZ - Volatility Comparison
The current volatility for Invesco Dynamic Food & Beverage ETF (PBJ) is 3.96%, while iShares Residential Real Estate ETF (REZ) has a volatility of 5.73%. This indicates that PBJ experiences smaller price fluctuations and is considered to be less risky than REZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PBJ | REZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.96% | 5.73% | -1.77% |
Volatility (6M)Calculated over the trailing 6-month period | 9.27% | 11.43% | -2.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.67% | 14.99% | -2.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.76% | 18.98% | -5.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.13% | 21.57% | -6.44% |
PBJ vs. REZ - Expense Ratio Comparison
PBJ has a 0.63% expense ratio, which is higher than REZ's 0.48% expense ratio.
Dividends
PBJ vs. REZ - Dividend Comparison
PBJ's dividend yield for the trailing twelve months is around 1.93%, less than REZ's 2.10% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PBJ Invesco Dynamic Food & Beverage ETF | 1.93% | 1.83% | 1.11% | 1.81% | 1.82% | 0.90% | 1.12% | 1.21% | 1.41% | 0.70% | 1.56% | 1.24% |
REZ iShares Residential Real Estate ETF | 2.10% | 2.74% | 2.26% | 2.94% | 3.37% | 1.81% | 3.17% | 2.90% | 3.63% | 3.57% | 5.55% | 3.18% |
Frequently Asked Questions
PBJ and REZ have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
REZ has higher volatility (5.73%) compared to PBJ (3.96%). In terms of maximum drawdown, PBJ dropped -39.15% vs REZ's -66.87%.
On 10-year performance, REZ leads with 6.61% vs 5.00% for PBJ. On fees, REZ is cheaper at 0.48% per year. On volatility, PBJ has been the lower-risk option at 3.96%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, REZ has performed better with a 6.61% return vs 5.00%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
REZ is cheaper with a 0.48% expense ratio, compared with 0.63% for PBJ.
REZ has the higher dividend yield at 2.10%, compared with 1.93% for PBJ.
PBJ is categorized as Consumer Staples Equities, while REZ is REIT. PBJ tracks Dynamic Food & Beverage Intellidex Index, while REZ tracks FTSE NAREIT All Residential Capped Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.63% for PBJ and 0.48% for REZ.
REZ currently has the higher Sharpe Ratio (0.83 vs -0.04), 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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