Comparing the Vanguard Consumer Staples ETF (VDC 0.84%) and Invesco Food & Beverage ETF (PBJ 0.10%) highlights a choice between a broad, low-cost defensive basket and a more concentrated, niche focus on food and agriculture.
Both funds provide exposure to defensive sectors that typically hold up when economic growth slows. These investments focus on businesses that produce goods people buy regardless of the financial climate. While the Invesco fund targets a specific niche within food production, the Vanguard fund offers a wider net across the consumer staples landscape.
Snapshot (cost & size)
| Metric | PBJ | VDC |
|---|---|---|
| Issuer | Invesco | Vanguard |
| Share price | $48.54 (as of 2026-07-20) | $229.43 (as of 2026-07-20) |
| Expense ratio | 0.61% | 0.09% |
| 1-yr return (as of 2026-07-20) | 2.2% | 7.3% |
| Dividend yield | 1.3% | 2.1% |
| Beta | 0.48 | 0.49 |
| AUM | $110.2M | $9.2B |
Beta measures price volatility relative to the S&P 500; beta is calculated from monthly returns over the available fund history (up to five years). The 1-yr return represents total return over the trailing 12 months. Dividend yield is the trailing-12-month distribution yield.
Vanguard is significantly more affordable at 0.09%, while the Invesco fund charges 0.61%. The Vanguard fund also provides a higher payout, with a yield of 2.1% compared to 1.3% for the Invesco fund.
Performance & risk comparison
| Metric | PBJ | VDC |
|---|---|---|
| Max drawdown (5 yr) | (15.8%) | (16.5%) |
| Growth of $1,000 over 5 years (total return) | $1,273 | $1,407 |
What's inside
The Vanguard Consumer Staples ETF (VDC 0.84%) provides a broad look at the consumer defensive sector, holding 103 stocks. It uses a passive strategy to track nondiscretionary products like household goods and hygiene products. Its largest positions include Walmart (WMT 1.57%) at 14.00%, Costco Wholesale (COST 0.67%) at 11.42%, and Procter & Gamble (PG 0.60%) at 8.76%. The fund's sector breakdown is 97% consumer defensive. It was launched in 2004. Vanguard Consumer Staples ETF has paid $4.80 per share over the trailing 12 months, which on its recent ~$229.43 share price works out to a 2.1% yield.
In contrast, the Invesco Food & Beverage ETF (PBJ 0.10%) focuses narrowly on the production and sale of food and agricultural technologies. The portfolio is more concentrated with 31 holdings and uses an index that evaluates companies on earnings expansion and momentum. Its largest positions include Monster Beverage (MNST 1.04%) at 5.52%, Corteva (CTVA +0.18%) at 5.46%, and Archer-Daniels-Midland (ADM +0.62%) at 5.45%. The fund allocates 70% to consumer defensive names and 8% to industrials. It was launched in 2005. Invesco Food & Beverage ETF has paid $0.61 per share over the trailing 12 months, which on its recent ~$48.54 share price works out to a 1.3% yield.
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What this means for investors
You will not find many ETFs that provide better downside protection than the Vanguard Consumer Staples ETF. Over the years, since it was launched in January 2004, it has outperformed all other major Vanguard ETFs during recessions and bear markets. And it has also beaten the major benchmarks during those same downturns.
Compared to the Invesco Food & Beverage ETF, the Vanguard Consumer Staples ETF is the clear choice for investors looking to add some balance to their portfolios. That’s because it invests in a broad group of consumer staples companies that are built to perform well in various market and economic conditions. Its consistent outperformance during recessions, corrections, and bear markets can help offset broader market losses. The Invesco ETF is more narrowly focused on food and beverage stocks with far fewer holdings.
The Vanguard ETF also has a much lower expense ratio and a history of better returns. Over the past one-, three-, five-, and 10-year periods, the Vanguard ETF has higher annualized returns than the Invesco ETF. In addition, the Vanguard ETF pays out a higher distribution yield.
