PJT vs. XLP

Last updated Jun 9, 2026

PJT (PJT Partners Inc.) is a stock, while XLP (State Street Consumer Staples Select Sector SPDR ETF) is Consumer Staples Equities fund tracking the Consumer Staples Select Sector Index. Over the past 10 years, PJT returned 21.27%/yr vs 7.21%/yr for XLP. At a 0.22 correlation, their price movements are largely independent.

Performance

PJT vs. XLP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PJT Partners Inc. (PJT) and State Street Consumer Staples Select Sector SPDR ETF (XLP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PJT achieves a -5.62% return, which is significantly lower than XLP's 7.54% return. Over the past 10 years, PJT has outperformed XLP with an annualized return of 21.27%, while XLP has yielded a comparatively lower 7.21% annualized return.

PJT

• 1D: 0.04%
• 1M: 1.88%
• YTD: -5.62%
• 6M: -8.82%
• 1Y: 2.63%
• 3Y*: 30.99%
• 5Y*: 20.21%
• 10Y*: 21.27%

XLP

• 1D: -0.44%
• 1M: -1.32%
• YTD: 7.54%
• 6M: 8.22%
• 1Y: 4.50%
• 3Y*: 7.23%
• 5Y*: 6.10%
• 10Y*: 7.21%

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

PJT vs. XLP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PJT PJT Partners Inc.	-5.62%	6.62%	56.23%	40.00%	0.92%	2.62%	67.34%	17.00%	-14.67%	48.41%
XLP State Street Consumer Staples Select Sector SPDR ETF	7.54%	1.52%	12.20%	-0.82%	-0.81%	17.20%	10.11%	27.43%	-8.07%	12.98%

Correlation

The correlation between PJT and XLP is 0.04, 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	0.04
Correlation (3Y) Calculated over the trailing 3-year period	0.15
Correlation (5Y) Calculated over the trailing 5-year period	0.22
Correlation (10Y) Calculated over the trailing 10-year period	0.24
Correlation (All Time) Calculated using the full available price history since Oct 2, 2015	0.22

The correlation between PJT and XLP shifts across timeframes, from 0.04 (1 year) to 0.24 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

PJT vs. XLP — Risk / Return Rank

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

PJT

PJT Risk / Return Rank: 43
PJT Sharpe Ratio Rank: 46
PJT Sortino Ratio Rank: 39
PJT Omega Ratio Rank: 39
PJT Calmar Ratio Rank: 44
PJT Martin Ratio Rank: 44

XLP

XLP Risk / Return Rank: 15
XLP Sharpe Ratio Rank: 15
XLP Sortino Ratio Rank: 15
XLP Omega Ratio Rank: 14
XLP Calmar Ratio Rank: 15
XLP Martin Ratio Rank: 14

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.

PJT vs. XLP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PJT Partners Inc. (PJT) and State Street Consumer Staples Select Sector SPDR ETF (XLP). 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.

	PJT	XLP	Difference
Sharpe ratio: Return per unit of total volatility	0.09	0.36	-0.26
Sortino ratio: Return per unit of downside risk	0.32	0.60	-0.28
Omega ratio: Gain probability vs. loss probability	1.04	1.07	-0.03
Calmar ratio: Return relative to maximum drawdown	0.08	0.47	-0.39
Martin ratio: Return relative to average drawdown	0.19	0.91	-0.72
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PJT vs. XLP - Sharpe Ratio Comparison

The current PJT Sharpe Ratio is 0.09, which is lower than the XLP Sharpe Ratio of 0.36. The chart below compares the historical Sharpe Ratios of PJT and XLP, 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

	PJT	XLP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.09	0.36	-0.26
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.68	0.46	+0.21
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.64	0.49	+0.14
Sharpe Ratio (All Time) Calculated using the full available price history	0.65	0.44	+0.21

Drawdowns

PJT vs. XLP - Drawdown Comparison

The maximum PJT drawdown since its inception was -58.44%, which is greater than XLP's maximum drawdown of -35.90%. Use the drawdown chart below to compare losses from any high point for PJT and XLP.

Drawdown Indicators

	PJT	XLP	Difference
Max Drawdown Largest peak-to-trough decline	-58.44%	-35.90%	-22.54%
Max Drawdown (1Y) Largest decline over 1 year	-32.47%	-9.69%	-22.78%
Max Drawdown (3Y) Largest decline over 3 years	-32.47%	-12.39%	-20.08%
Max Drawdown (5Y) Largest decline over 5 years	-37.80%	-16.30%	-21.50%
Max Drawdown (10Y) Largest decline over 10 years	-58.44%	-24.51%	-33.93%
Current Drawdown Current decline from peak	-17.56%	-7.19%	-10.37%
Average Drawdown Average peak-to-trough decline	-12.91%	-7.06%	-5.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.00%	4.97%	+9.03%

Volatility

PJT vs. XLP - Volatility Comparison

PJT Partners Inc. (PJT) has a higher volatility of 7.41% compared to State Street Consumer Staples Select Sector SPDR ETF (XLP) at 4.30%. This indicates that PJT's price experiences larger fluctuations and is considered to be riskier than XLP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PJT	XLP	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.41%	4.30%	+3.11%
Volatility (6M) Calculated over the trailing 6-month period	21.48%	9.97%	+11.51%
Volatility (1Y) Calculated over the trailing 1-year period	29.07%	12.75%	+16.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.07%	13.31%	+16.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.63%	14.74%	+18.89%

Dividends

PJT vs. XLP - Dividend Comparison

PJT's dividend yield for the trailing twelve months is around 0.64%, less than XLP's 2.62% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PJT PJT Partners Inc.	0.64%	0.60%	0.63%	0.98%	1.36%	4.32%	0.27%	0.44%	0.52%	0.44%	0.65%	0.00%
XLP State Street Consumer Staples Select Sector SPDR ETF	2.62%	2.75%	2.77%	2.63%	2.47%	2.28%	2.50%	2.57%	3.04%	2.62%	2.53%	2.52%

Frequently Asked Questions

Can I hold both PJT and XLP in my portfolio?

PJT and XLP have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PJT or XLP?

PJT has higher volatility (7.41%) compared to XLP (4.30%). In terms of maximum drawdown, PJT dropped -58.44% vs XLP's -35.90%.

Which has better risk-adjusted returns?

XLP currently has the higher Sharpe Ratio (0.36 vs 0.09), 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.