Food & Beverage vs the S&P 500 (PBJ): is it outperforming?
Over the past month, PBJ has outperformed the S&P 500 by 5.2 points. Here is where that puts it in the sector rotation — updated daily.
Where PBJ sits on the rotation map
Food & Beverage highlighted against the 11 broad S&P 500 sectors. Vertical: 1-month spread vs the S&P 500. Horizontal: the longer, time-shifted window — the methodology explains the math.
PBJ vs SPY: head-to-head returns
PBJ (food & beverage) and SPY (the S&P 500) side by side over every window Zensei tracks. The spread is the difference — positive means PBJ won that window.
Data as of 2026-07-22 · computed from daily adjusted closes · how we measure
The read
Food & Beverage (PBJ) has just turned the corner. Over the longer, time-shifted window it trailed the S&P 500 by 11.7 points, but over the past month it has moved decisively ahead of the market — a 5.2-point edge that puts it in the improving quadrant. Ranked by one-month spread, it currently stands #25 of the 115 groups Zensei tracks.
On the shorter tape, PBJ's momentum is mixed: the longer intraday trend is still positive, but the recent windows have gone flat. PBJ's relative-strength line — its price ratio against the S&P 500 — is trading above its moving averages, the healthiest configuration we track. The longer trend remains healthier than the recent tape suggests — the kind of divergence worth rechecking in a week.
The exposure comes via Invesco Food & Beverage ETF, whose 31 tracked holdings are led by MONSTER BEVERAGE CORP, CORTEVA INC and ARCHER-DANIELS-MIDLAND CO. Weighted by portfolio, the fund's holdings trade at roughly 30.7× earnings and 2.1× sales. The thing to watch from here is confirmation: improving groups that hold a positive one-month spread long enough for the longer window to turn are the classic early-rotation entries — the ones that fail fall back quickly.
What's inside PBJ
Top 5 of 31 tracked holdings, by portfolio weight.
Food & Beverage vs the market — common questions
Is food & beverage outperforming the S&P 500?
Right now, yes: over the past month PBJ has outperformed the S&P 500 by 5.2 points. This page updates daily, so the answer reflects current market data rather than a dated article.
What is PBJ?
PBJ is Invesco Food & Beverage ETF, the fund Zensei uses to measure the food & beverage group against the S&P 500 benchmark (SPY).
Which stocks are in PBJ?
PBJ's largest tracked positions are MONSTER BEVERAGE CORP, CORTEVA INC, ARCHER-DANIELS-MIDLAND CO, STARBUCKS CORP, COCA-COLA CO — 31 holdings in total. The full list, with each stock measured against the group, is part of Zensei Premium.
What quadrant is food & beverage in right now?
As of the latest daily data, food & beverage is in the improving quadrant — behind the market over the longer window, but ahead over the past month. The quadrant rules are documented on the Zensei methodology page.
Related sectors
Track food & beverage against the whole market
Zensei Edge maps 100+ sectors and themes against the S&P 500 — with the stocks inside each one, rotation history and alerts when leadership changes hands.