PBJ vs. VPMCX

Last updated Jun 4, 2026

PBJ (Invesco Dynamic Food & Beverage ETF) and VPMCX (Vanguard PRIMECAP Fund Investor Shares) are both funds - PBJ is a Consumer Staples Equities fund tracking the Dynamic Food & Beverage Intellidex Index, while VPMCX is a Large Cap Growth Equities fund managed by Vanguard. Over the past 10 years, PBJ returned 5.27%/yr vs 17.57%/yr for VPMCX. A 0.64 correlation means they provide meaningful diversification when combined. PBJ charges 0.63%/yr vs 0.38%/yr for VPMCX.

Performance

PBJ vs. VPMCX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Dynamic Food & Beverage ETF (PBJ) and Vanguard PRIMECAP Fund Investor Shares (VPMCX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PBJ achieves a 6.38% return, which is significantly lower than VPMCX's 25.40% return. Over the past 10 years, PBJ has underperformed VPMCX with an annualized return of 5.27%, while VPMCX has yielded a comparatively higher 17.57% 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%

VPMCX

• 1D: 0.35%
• 1M: 12.86%
• YTD: 25.40%
• 6M: 26.79%
• 1Y: 58.79%
• 3Y*: 28.00%
• 5Y*: 16.44%
• 10Y*: 17.57%

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

PBJ vs. VPMCX - 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%
VPMCX Vanguard PRIMECAP Fund Investor Shares	25.40%	29.60%	13.23%	28.16%	-15.22%	21.64%	17.16%	27.78%	-1.99%	28.17%

Correlation

The correlation between PBJ and VPMCX is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.21
Correlation (3Y) Calculated over the trailing 3-year period	0.39
Correlation (5Y) Calculated over the trailing 5-year period	0.46
Correlation (10Y) Calculated over the trailing 10-year period	0.50
Correlation (All Time) Calculated using the full available price history since Jun 24, 2005	0.64

Over the past year, the correlation between PBJ and VPMCX has dropped to 0.21 - well below their long-term average of 0.64, suggesting their price drivers have been diverging.

PBJ vs. VPMCX - Sectors Allocation Comparison

Sectors	PBJ	VPMCX
Consumer Defensive	85.6%	1.1%
Consumer Cyclical	6.0%	11.8%
Basic Materials	5.2%	1.6%
Industrials	3.1%	13.2%
Financial Services	0.2%	7.6%
Communication Services	-	7.7%
Energy	-	1.8%
Healthcare	-	25.1%
Real Estate	-	0.1%
Technology	-	28.9%
Utilities	-	0.0%

Return for Risk

PBJ vs. VPMCX — Risk / Return Rank

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

PBJ

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

VPMCX

VPMCX Risk / Return Rank: 94
VPMCX Sharpe Ratio Rank: 97
VPMCX Sortino Ratio Rank: 95
VPMCX Omega Ratio Rank: 91
VPMCX Calmar Ratio Rank: 93
VPMCX Martin Ratio Rank: 96

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. VPMCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Dynamic Food & Beverage ETF (PBJ) and Vanguard PRIMECAP Fund Investor Shares (VPMCX). 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	VPMCX	Difference
Sharpe ratio: Return per unit of total volatility	0.03	3.75	-3.71
Sortino ratio: Return per unit of downside risk	0.13	5.04	-4.91
Omega ratio: Gain probability vs. loss probability	1.02	1.65	-0.64
Calmar ratio: Return relative to maximum drawdown	0.03	5.12	-5.08
Martin ratio: Return relative to average drawdown	0.08	23.59	-23.51
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PBJ vs. VPMCX - Sharpe Ratio Comparison

The current PBJ Sharpe Ratio is 0.03, which is lower than the VPMCX Sharpe Ratio of 3.75. The chart below compares the historical Sharpe Ratios of PBJ and VPMCX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PBJ	VPMCX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.03	3.75	-3.71
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.23	0.91	-0.68
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.35	0.92	-0.57
Sharpe Ratio (All Time) Calculated using the full available price history	0.46	0.81	-0.35

Drawdowns

PBJ vs. VPMCX - Drawdown Comparison

The maximum PBJ drawdown since its inception was -39.15%, smaller than the maximum VPMCX drawdown of -50.45%. Use the drawdown chart below to compare losses from any high point for PBJ and VPMCX.

Drawdown Indicators

	PBJ	VPMCX	Difference
Max Drawdown Largest peak-to-trough decline	-39.15%	-50.45%	+11.30%
Max Drawdown (1Y) Largest decline over 1 year	-12.48%	-11.73%	-0.75%
Max Drawdown (3Y) Largest decline over 3 years	-12.99%	-20.56%	+7.57%
Max Drawdown (5Y) Largest decline over 5 years	-15.81%	-25.25%	+9.44%
Max Drawdown (10Y) Largest decline over 10 years	-28.49%	-32.65%	+4.16%
Current Drawdown Current decline from peak	-6.48%	0.00%	-6.48%
Average Drawdown Average peak-to-trough decline	-5.39%	-7.41%	+2.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.22%	2.54%	+2.68%

Volatility

PBJ vs. VPMCX - Volatility Comparison

The current volatility for Invesco Dynamic Food & Beverage ETF (PBJ) is 3.74%, while Vanguard PRIMECAP Fund Investor Shares (VPMCX) has a volatility of 6.18%. This indicates that PBJ experiences smaller price fluctuations and is considered to be less risky than VPMCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PBJ	VPMCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.74%	6.18%	-2.44%
Volatility (6M) Calculated over the trailing 6-month period	8.80%	12.85%	-4.05%
Volatility (1Y) Calculated over the trailing 1-year period	12.48%	16.02%	-3.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.75%	18.26%	-4.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.11%	19.19%	-4.08%

PBJ vs. VPMCX - Expense Ratio Comparison

PBJ has a 0.63% expense ratio, which is higher than VPMCX's 0.38% expense ratio.

Dividends

PBJ vs. VPMCX - Dividend Comparison

PBJ's dividend yield for the trailing twelve months is around 1.58%, less than VPMCX's 13.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
VPMCX Vanguard PRIMECAP Fund Investor Shares	13.04%	16.36%	6.62%	7.16%	9.85%	10.08%	9.74%	7.15%	8.32%	4.53%	5.05%	5.91%

Frequently Asked Questions

Can I hold both PBJ and VPMCX in my portfolio?

PBJ and VPMCX have a correlation of 0.21, 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 VPMCX?

VPMCX has higher volatility (6.18%) compared to PBJ (3.74%). In terms of maximum drawdown, PBJ dropped -39.15% vs VPMCX's -50.45%.

Which has better risk-adjusted returns?

VPMCX currently has the higher Sharpe Ratio (3.75 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.