What Is the PBJ ETF? Returns, Expense Ratio, Holdings, and Alternative ETFs Explained
An introduction to PBJ, the Invesco Food & Beverage ETF. It is a sector-theme product focused on US food and beverage companies. Its exposure differs from low-cost core ETFs that cover the entire consumer staples sector, so expense ratio level, dividend profile, and sector concentration are the key selection criteria.
SubscribeWhat Is the Invesco Food & Beverage ETF?
This is a sector-theme ETF that tracks an Intellidex index composed of US food and beverage companies. Rather than covering consumer staples as a whole, it selects and holds stocks within the food and beverage sub-theme.
It suits satellite-allocation investors who want concentrated exposure to the defensive consumption theme of food and beverage within consumer staples.
It is a passively managed ETF (index tracking) run by Invesco.
How Does the Invesco Food & Beverage ETF Invest?
| Item | Details |
|---|---|
| Tracked index | Food and beverage Intellidex index |
| Management style | Passive (rule-based index tracking) |
| Rebalancing frequency | Quarterly |
| Dividend frequency | Quarterly dividends |
| Issuer | Invesco |
| Total expense ratio | 0.61% |
Applying the Intellidex method, which evaluates stocks using fundamental metrics, the fund selects stocks from the US food and beverage industry and allocates weights. It is built on rule-based evaluation rather than simple market-cap weighting, and rebalancing is applied on a quarterly basis.
- Thematic concentration narrowed to food and beverage within consumer staples
- Selection based on Intellidex rules rather than market-cap weighting
Invesco Food & Beverage ETF Size and Costs (AUM and Management Fee)
Assets under management (AUM) stand at $105.4M, and the total expense ratio is 0.61% per year.
Compared with XLP and VDC, which cover consumer staples as a whole, its exposure is narrower, focused on food and beverage, and its holdings differ because of rule-based selection.
Invesco Food & Beverage ETF Performance and Trends
1-Year Price Performance
Dividend & Yield
52-Week Price RangeThe food and beverage industry is strongly defensive in nature, so it tends to show relatively mild movements during periods of market volatility. However, returns within the industry can vary depending on commodity prices and the consumer spending environment.
Fund flows follow demand for defensive consumption themes, and in risk-off phases attention sometimes gathers around consumer staples products. Conversely, in risk-on phases, the fund can be relatively overlooked.
Invesco Food & Beverage ETF Pros and Cons
Its strengths are its food and beverage thematic focus and defensive character, while its weaknesses are sector concentration and limited diversification compared with the broad market.
💪 Key Strengths
⚠️ Points to Watch
Invesco Food & Beverage ETF Alternatives and Related Products
Comparable products in the same consumer staples category, shown in the table, include core ETFs such as XLP, VDC, and FSTA, which cover the entire sector more broadly at a lower expense ratio. Closer to the food and beverage theme, a direct comparable is FTXG, which tracks a Nasdaq food and beverage index. To widen exposure beyond the US to global consumer staples, you can consider KXI, and if you prefer rule-based selection of consumer staples, FXG is also worth reviewing.
Peer Comparison ETFs| Ticker | Name | Price | Change | AUM | Total Expense Ratio | Dividend Yield | 1Y |
|---|---|---|---|---|---|---|---|
 XLP | State Street Consumer Staples Select Sector SPDR ETF | $88.18 | +1.5% | $14.6B | 0.08% | 2.49% | +15.2% |
 VDC | Vanguard Consumer Staples ETF | $238.89 | +1.3% | $7.9B | 0.09% | 2.04% | +13.9% |
 FSTA | Fidelity MSCI Consumer Staples Index ETF | $55.68 | +1.3% | $1.5B | 0.08% | 2.12% | +13.8% |
 IYK | iShares U.S. Consumer Staples ETF | $77.19 | +1.4% | $1.3B | 0.37% | 2.44% | +14.9% |
 RSPS | Invesco S&P 500 Equal Weight Consumer Staples ETF | $31.11 | +1.2% | $244.6M | 0.40% | 2.85% | +8.8% |
Top Holdings| Ticker | Name | Weight | Price | Change | Market Cap | P/E | Dividend Yield |
|---|---|---|---|---|---|---|---|
| MNST | Monster Beverage Corp | 0.06% | $46.37 | +1.5% | $90.8B | 43.0 | - |
| ADM | Archer Daniels Midland Co | 0.11% | $76.20 | -1.3% | $36.7B | 20.9 | 2.79% |
| KO | Coca-Cola Co | 0.05% | $92.82 | +1.2% | $399.4B | 27.4 | 2.37% |
| SBUX | Starbucks Corp | 0.05% | $105.63 | +2.4% | $120.4B | 60.9 | 2.39% |
 CTVA | Corteva Inc | 0.10% | $11.47 | +1.2% | $7.7B | 7.6 | 0.78% |
| MDLZ | Mondelez International Inc | 0.05% | $62.53 | +1.1% | $79.8B | 22.9 | 3.29% |
| KR | Kroger Co | 0.05% | $65.93 | +1.4% | $38.9B | 35.7 | 2.26% |
| PEP | PepsiCo Inc | 0.05% | $133.80 | +0.9% | $182.3B | 16.8 | 4.37% |
Invesco Food & Beverage ETF Investor Checkpoints
Here are the points to review before investing in PBJ. Because the product concentrates on the food and beverage theme, it is wise to check the expense ratio level, sector concentration, dividend profile, and currency exposure in advance, and to consider the balance with your core assets.
| Checkpoint | What to Check | Current Status |
|---|---|---|
| 💵 Expense ratio | Check the cumulative cost impact over a long holding period | Higher than core ETFs |
| 📊 Sector concentration | Degree of food and beverage tilt and diversification | Concentrated in a specific industry |
| 💰 Dividend profile | Distribution pattern and dividend character | Quarterly dividends maintained |
| 💱 Exchange rate | Impact on returns converted into Korean won | No currency hedge applied |
Concentration in a specific industry limits diversification compared with the broad market, and a slowdown in consumer spending or swings in commodity prices can directly affect industry performance. Position sizing as a satellite asset needs to be managed.
It is a satellite asset suited to investors who want concentrated exposure to the defensive consumption theme of food and beverage. If you want to hold consumer staples as a whole at a low expense ratio, options such as XLP and VDC fit better, while this product is the alternative if you want a concentrated food and beverage theme.
SubscribeDisclaimer: This content is for informational purposes only and does not constitute investment advice. All investment responsibility lies with the investor.
This article reflects information as of July 2, 2026.
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