PEP vs. ICE
PEP (PepsiCo, Inc.) and ICE (Intercontinental Exchange, Inc.) are both stocks. PEP operates in Beverages - Non-Alcoholic (Consumer Defensive), while ICE operates in Financial Data & Stock Exchanges (Financial Services). Over the past 10 years, PEP returned 6.62%/yr vs 11.91%/yr for ICE. At a 0.31 correlation, their price movements are largely independent.
Performance
PEP vs. ICE - Performance Comparison
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Returns By Period
In the year-to-date period, PEP achieves a 2.49% return, which is significantly higher than ICE's -12.95% return. Over the past 10 years, PEP has underperformed ICE with an annualized return of 6.62%, while ICE has yielded a comparatively higher 11.91% annualized return.
PEP
- 1D
- 0.38%
- 1M
- -2.33%
- YTD
- 2.49%
- 6M
- -2.36%
- 1Y
- 13.36%
- 3Y*
- -4.09%
- 5Y*
- 2.73%
- 10Y*
- 6.62%
ICE
- 1D
- 1.12%
- 1M
- -9.22%
- YTD
- -12.95%
- 6M
- -13.36%
- 1Y
- -20.60%
- 3Y*
- 10.22%
- 5Y*
- 5.87%
- 10Y*
- 11.91%
PEP vs. ICE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PEP PepsiCo, Inc. | 2.49% | -1.85% | -7.60% | -3.29% | 6.78% | 20.56% | 11.67% | 27.38% | -4.81% | 17.82% |
ICE Intercontinental Exchange, Inc. | -12.95% | 9.92% | 17.46% | 27.12% | -23.91% | 19.94% | 26.15% | 24.47% | 8.11% | 26.60% |
Correlation
The correlation between PEP and ICE is 0.07, 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 | 0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.22 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.30 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.32 |
Correlation (All Time) Calculated using the full available price history since Nov 16, 2005 | 0.31 |
Over the past year, the correlation between PEP and ICE has dropped to 0.07 - well below their long-term average of 0.31, suggesting their price drivers have been diverging.
Fundamentals
PEP:
$197.79B
ICE:
$80.10B
PEP:
$6.37
ICE:
$6.85
PEP:
22.64
ICE:
20.53
PEP:
7.83
ICE:
2.48
PEP:
2.07
ICE:
6.15
PEP:
9.25
ICE:
2.71
PEP:
$95.45B
ICE:
$13.08B
PEP:
$51.60B
ICE:
$8.93B
PEP:
$15.08B
ICE:
$7.05B
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Return for Risk
PEP vs. ICE — Risk / Return Rank
PEP
ICE
PEP vs. ICE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PepsiCo, Inc. (PEP) and Intercontinental Exchange, Inc. (ICE). 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.
| PEP | ICE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.57 | ||
| Sortino ratioReturn per unit of downside risk | +2.32 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 0.85 | +0.27 |
| Calmar ratioReturn relative to maximum drawdown | 0.83 | -0.80 | +1.63 |
| Martin ratioReturn relative to average drawdown | 2.11 | -1.50 | +3.61 |
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Drawdowns
PEP vs. ICE - Drawdown Comparison
The maximum PEP drawdown since its inception was -73.92%, roughly equal to the maximum ICE drawdown of -73.94%. Use the drawdown chart below to compare losses from any high point for PEP and ICE.
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Drawdown Indicators
| PEP | ICE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.92% | -73.94% | +0.02% |
Max Drawdown (1Y)Largest decline over 1 year | -16.25% | -25.87% | +9.62% |
Max Drawdown (3Y)Largest decline over 3 years | -29.17% | -25.87% | -3.30% |
Max Drawdown (5Y)Largest decline over 5 years | -30.32% | -34.32% | +4.00% |
Max Drawdown (10Y)Largest decline over 10 years | -30.32% | -34.32% | +4.00% |
Current DrawdownCurrent decline from peak | -17.75% | -24.75% | +7.00% |
Average DrawdownAverage peak-to-trough decline | -13.65% | -16.46% | +2.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.37% | 13.74% | -7.37% |
Volatility
PEP vs. ICE - Volatility Comparison
The current volatility for PepsiCo, Inc. (PEP) is 5.39%, while Intercontinental Exchange, Inc. (ICE) has a volatility of 6.26%. This indicates that PEP experiences smaller price fluctuations and is considered to be less risky than ICE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PEP | ICE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.39% | 6.26% | -0.87% |
Volatility (6M)Calculated over the trailing 6-month period | 14.62% | 18.52% | -3.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.71% | 21.86% | -0.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.39% | 21.07% | -2.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.67% | 22.20% | -2.53% |
Dividends
PEP vs. ICE - Dividend Comparison
PEP's dividend yield for the trailing twelve months is around 3.98%, more than ICE's 1.39% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ICE Intercontinental Exchange, Inc. | 1.39% | 1.19% | 1.21% | 1.31% | 1.48% | 0.97% | 1.04% | 1.19% | 1.27% | 1.13% | 1.21% | 1.13% |
PEP PepsiCo, Inc. | 3.98% | 3.92% | 3.51% | 2.91% | 2.50% | 2.45% | 2.71% | 2.77% | 3.25% | 2.64% | 2.83% | 2.76% |
Financials
PEP vs. ICE - Financials Comparison
This section allows you to compare key financial metrics between PepsiCo, Inc. and Intercontinental Exchange, Inc.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
PEP vs. ICE - Profitability Comparison
PEP - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, PepsiCo, Inc. reported a gross profit of 10.73B and revenue of 19.44B. Therefore, the gross margin over that period was 55.2%.
ICE - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Intercontinental Exchange, Inc. reported a gross profit of 2.89B and revenue of 3.67B. Therefore, the gross margin over that period was 78.8%.
PEP - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, PepsiCo, Inc. reported an operating income of 3.21B and revenue of 19.44B, resulting in an operating margin of 16.5%.
ICE - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Intercontinental Exchange, Inc. reported an operating income of 1.67B and revenue of 3.67B, resulting in an operating margin of 45.4%.
PEP - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, PepsiCo, Inc. reported a net income of 2.34B and revenue of 19.44B, resulting in a net margin of 12.0%.
ICE - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Intercontinental Exchange, Inc. reported a net income of 1.41B and revenue of 3.67B, resulting in a net margin of 38.5%.
Frequently Asked Questions
PEP and ICE have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ICE has higher volatility (6.26%) compared to PEP (5.39%). In terms of maximum drawdown, PEP dropped -73.92% vs ICE's -73.94%.
PEP currently has the higher Sharpe Ratio (0.62 vs -0.95), 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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