REZ vs. PBJ
REZ (iShares Residential Real Estate ETF) and PBJ (Invesco Dynamic Food & Beverage ETF) are both exchange-traded funds - REZ is a REIT fund tracking the FTSE NAREIT All Residential Capped Index, while PBJ is a Consumer Staples Equities fund tracking the Dynamic Food & Beverage Intellidex Index. Both are passively managed. Over the past 10 years, REZ returned 6.81%/yr vs 5.17%/yr for PBJ. A 0.52 correlation means they provide meaningful diversification when combined. REZ charges 0.48%/yr vs 0.63%/yr for PBJ.
Performance
REZ vs. PBJ - Performance Comparison
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Returns By Period
In the year-to-date period, REZ achieves a 11.57% return, which is significantly higher than PBJ's 5.32% return. Over the past 10 years, REZ has outperformed PBJ with an annualized return of 6.81%, while PBJ has yielded a comparatively lower 5.17% annualized return.
REZ
- 1D
- 1.85%
- 1M
- 0.19%
- YTD
- 11.57%
- 6M
- 12.05%
- 1Y
- 12.95%
- 3Y*
- 12.29%
- 5Y*
- 4.34%
- 10Y*
- 6.81%
PBJ
- 1D
- 1.57%
- 1M
- -2.97%
- YTD
- 5.32%
- 6M
- 4.88%
- 1Y
- -0.24%
- 3Y*
- 2.47%
- 5Y*
- 3.75%
- 10Y*
- 5.17%
REZ vs. PBJ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
REZ iShares Residential Real Estate ETF | 11.57% | 4.80% | 12.73% | 10.97% | -28.31% | 47.86% | -6.62% | 24.49% | 3.89% | 3.87% |
PBJ Invesco Dynamic Food & Beverage ETF | 5.32% | -1.86% | 2.49% | 2.31% | 3.14% | 26.88% | 5.53% | 17.50% | -11.21% | 1.87% |
Correlation
The correlation between REZ and PBJ 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 | 0.49 |
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 REZ and PBJ has been stable across timeframes, ranging from 0.45 to 0.52 - a consistent structural relationship.
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Return for Risk
REZ vs. PBJ — Risk / Return Rank
REZ
PBJ
REZ vs. PBJ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Residential Real Estate ETF (REZ) and Invesco Dynamic Food & Beverage ETF (PBJ). 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.
| REZ | PBJ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.89 | ||
| Sortino ratioReturn per unit of downside risk | +1.19 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.01 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 1.48 | -0.02 | +1.50 |
| Martin ratioReturn relative to average drawdown | 4.49 | -0.04 | +4.53 |
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Drawdowns
REZ vs. PBJ - Drawdown Comparison
The maximum REZ drawdown since its inception was -66.87%, which is greater than PBJ's maximum drawdown of -39.15%. Use the drawdown chart below to compare losses from any high point for REZ and PBJ.
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Drawdown Indicators
| REZ | PBJ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -66.87% | -39.15% | -27.72% |
Max Drawdown (1Y)Largest decline over 1 year | -8.76% | -12.48% | +3.72% |
Max Drawdown (3Y)Largest decline over 3 years | -18.39% | -12.99% | -5.40% |
Max Drawdown (5Y)Largest decline over 5 years | -35.05% | -15.81% | -19.24% |
Max Drawdown (10Y)Largest decline over 10 years | -44.15% | -28.49% | -15.66% |
Current DrawdownCurrent decline from peak | -0.64% | -7.42% | +6.78% |
Average DrawdownAverage peak-to-trough decline | -12.66% | -5.39% | -7.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.89% | 5.41% | -2.52% |
Volatility
REZ vs. PBJ - Volatility Comparison
iShares Residential Real Estate ETF (REZ) has a higher volatility of 6.03% compared to Invesco Dynamic Food & Beverage ETF (PBJ) at 4.33%. This indicates that REZ's price experiences larger fluctuations and is considered to be riskier than PBJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| REZ | PBJ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.03% | 4.33% | +1.70% |
Volatility (6M)Calculated over the trailing 6-month period | 11.55% | 9.40% | +2.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.07% | 12.74% | +2.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.00% | 13.77% | +5.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.58% | 15.13% | +6.45% |
REZ vs. PBJ - Expense Ratio Comparison
REZ has a 0.48% expense ratio, which is lower than PBJ's 0.63% expense ratio.
Dividends
REZ vs. PBJ - Dividend Comparison
REZ's dividend yield for the trailing twelve months is around 2.06%, more than PBJ's 1.30% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PBJ Invesco Dynamic Food & Beverage ETF | 1.30% | 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 | 2.06% | 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
REZ and PBJ 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 (6.03%) compared to PBJ (4.33%). In terms of maximum drawdown, REZ dropped -66.87% vs PBJ's -39.15%.
On 10-year performance, REZ leads with 6.81% vs 5.17% for PBJ. On fees, REZ is cheaper at 0.48% per year. On volatility, PBJ has been the lower-risk option at 4.33%. 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 6.81% return vs 5.17%. 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 2.06%, compared with 1.30% for PBJ.
REZ is categorized as REIT, while PBJ is Consumer Staples Equities. REZ tracks FTSE NAREIT All Residential Capped Index, while PBJ tracks Dynamic Food & Beverage Intellidex Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.48% for REZ and 0.63% for PBJ.
REZ currently has the higher Sharpe Ratio (0.87 vs -0.02), 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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