PBJ vs. XLG

Last updated Jun 4, 2026

PBJ (Invesco Dynamic Food & Beverage ETF) and XLG (Invesco S&P 500 Top 50 ETF) are both exchange-traded funds - PBJ is a Consumer Staples Equities fund tracking the Dynamic Food & Beverage Intellidex Index, while XLG is a S&P 500 fund tracking the S&P 500 Top 50 Index. Both are passively managed. Over the past 10 years, PBJ returned 5.27%/yr vs 17.27%/yr for XLG. A 0.61 correlation means they provide meaningful diversification when combined. PBJ charges 0.63%/yr vs 0.20%/yr for XLG.

Performance

PBJ vs. XLG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Dynamic Food & Beverage ETF (PBJ) and Invesco S&P 500 Top 50 ETF (XLG). 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 XLG's 7.57% return. Over the past 10 years, PBJ has underperformed XLG with an annualized return of 5.27%, while XLG has yielded a comparatively higher 17.27% 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%

XLG

• 1D: -1.15%
• 1M: 4.22%
• YTD: 7.57%
• 6M: 7.32%
• 1Y: 28.54%
• 3Y*: 24.46%
• 5Y*: 16.24%
• 10Y*: 17.27%

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

PBJ vs. XLG - 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%
XLG Invesco S&P 500 Top 50 ETF	7.57%	19.51%	33.49%	38.16%	-24.29%	30.77%	24.15%	32.04%	-3.59%	23.04%

Correlation

The correlation between PBJ and XLG is 0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.06
Correlation (3Y) Calculated over the trailing 3-year period	0.28
Correlation (5Y) Calculated over the trailing 5-year period	0.37
Correlation (10Y) Calculated over the trailing 10-year period	0.45
Correlation (All Time) Calculated using the full available price history since Jun 24, 2005	0.61

Over the past year, the correlation between PBJ and XLG has dropped to 0.06 - well below their long-term average of 0.61, suggesting their price drivers have been diverging.

PBJ vs. XLG - Sectors Allocation Comparison

Sectors	PBJ	XLG
Consumer Defensive	85.6%	5.8%
Consumer Cyclical	6.0%	11.3%
Basic Materials	5.2%	0.6%
Industrials	3.1%	1.9%
Financial Services	0.2%	9.6%
Communication Services	-	17.1%
Energy	-	2.7%
Healthcare	-	7.0%
Real Estate	-	-
Technology	-	43.9%
Utilities	-	-

Return for Risk

PBJ vs. XLG — 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

XLG

XLG Risk / Return Rank: 56
XLG Sharpe Ratio Rank: 63
XLG Sortino Ratio Rank: 61
XLG Omega Ratio Rank: 61
XLG Calmar Ratio Rank: 46
XLG Martin Ratio Rank: 51

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. XLG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Dynamic Food & Beverage ETF (PBJ) and Invesco S&P 500 Top 50 ETF (XLG). 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	XLG	Difference
Sharpe ratio Return per unit of total volatility	0.03	2.15	-2.12
Sortino ratio Return per unit of downside risk	0.13	2.92	-2.79
Omega ratio Gain probability vs. loss probability	1.02	1.38	-0.37
Calmar ratio Return relative to maximum drawdown	0.03	2.31	-2.28
Martin ratio Return relative to average drawdown	0.08	8.66	-8.58
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. XLG - Sharpe Ratio Comparison

The current PBJ Sharpe Ratio is 0.03, which is lower than the XLG Sharpe Ratio of 2.15. The chart below compares the historical Sharpe Ratios of PBJ and XLG, 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	XLG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.03	2.15	-2.12
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.23	0.87	-0.64
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	0.62	-0.16

Drawdowns

PBJ vs. XLG - Drawdown Comparison

The maximum PBJ drawdown since its inception was -39.15%, smaller than the maximum XLG drawdown of -52.39%. Use the drawdown chart below to compare losses from any high point for PBJ and XLG.

Drawdown Indicators

	PBJ	XLG	Difference
Max Drawdown Largest peak-to-trough decline	-39.15%	-52.39%	+13.24%
Max Drawdown (1Y) Largest decline over 1 year	-12.48%	-12.41%	-0.07%
Max Drawdown (3Y) Largest decline over 3 years	-12.99%	-20.70%	+7.71%
Max Drawdown (5Y) Largest decline over 5 years	-15.81%	-28.02%	+12.21%
Max Drawdown (10Y) Largest decline over 10 years	-28.49%	-30.46%	+1.97%
Current Drawdown Current decline from peak	-6.48%	-1.44%	-5.04%
Average Drawdown Average peak-to-trough decline	-5.39%	-7.64%	+2.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.22%	3.30%	+1.92%

Volatility

PBJ vs. XLG - Volatility Comparison

Invesco Dynamic Food & Beverage ETF (PBJ) has a higher volatility of 3.74% compared to Invesco S&P 500 Top 50 ETF (XLG) at 3.19%. This indicates that PBJ's price experiences larger fluctuations and is considered to be riskier than XLG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PBJ	XLG	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.74%	3.19%	+0.55%
Volatility (6M) Calculated over the trailing 6-month period	8.80%	9.80%	-1.00%
Volatility (1Y) Calculated over the trailing 1-year period	12.48%	13.33%	-0.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.75%	18.68%	-4.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.11%	18.84%	-3.73%

PBJ vs. XLG - Expense Ratio Comparison

PBJ has a 0.63% expense ratio, which is higher than XLG's 0.20% expense ratio.

Dividends

PBJ vs. XLG - Dividend Comparison

PBJ's dividend yield for the trailing twelve months is around 1.58%, more than XLG's 0.60% 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%
XLG Invesco S&P 500 Top 50 ETF	0.60%	0.64%	0.72%	0.97%	1.34%	0.94%	1.25%	1.58%	2.00%	1.85%	2.00%	2.09%

Frequently Asked Questions

Can I hold both PBJ and XLG in my portfolio?

PBJ and XLG have a correlation of 0.06, 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 XLG?

PBJ has higher volatility (3.74%) compared to XLG (3.19%). In terms of maximum drawdown, PBJ dropped -39.15% vs XLG's -52.39%.

Which ETF is better, PBJ or XLG?

On 10-year performance, XLG leads with 17.27% vs 5.27% for PBJ. On fees, XLG is cheaper at 0.20% per year. On volatility, XLG has been the lower-risk option at 3.19%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PBJ or XLG?

Over the 10-year period, XLG has performed better with a 17.27% return vs 5.27%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PBJ or XLG?

XLG is cheaper with a 0.20% expense ratio, compared with 0.63% for PBJ.

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

PBJ has the higher dividend yield at 1.58%, compared with 0.60% for XLG.

What is the main difference between PBJ and XLG?

PBJ is categorized as Consumer Staples Equities, while XLG is S&P 500. PBJ tracks Dynamic Food & Beverage Intellidex Index, while XLG tracks S&P 500 Top 50 Index. Their fees differ too: 0.63% for PBJ and 0.20% for XLG.

Which has better risk-adjusted returns?

XLG currently has the higher Sharpe Ratio (2.15 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.