Leisure and Entertainment vs the S&P 500 (PEJ): is it outperforming?
Over the past month, PEJ has underperformed the S&P 500 by 1.1 points. Here is where that puts it in the sector rotation — updated daily.
Where PEJ sits on the rotation map
Leisure and Entertainment 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.
PEJ vs SPY: head-to-head returns
PEJ (leisure and entertainment) and SPY (the S&P 500) side by side over every window Zensei tracks. The spread is the difference — positive means PEJ won that window.
Data as of 2026-07-14 · computed from daily adjusted closes · how we measure
The read
Leisure and Entertainment (PEJ) is out of favor: it trails the S&P 500 on both rotation windows — 1.1 points behind over the past month and 2.4 points behind over the longer, time-shifted window. That is the lagging quadrant. Ranked by one-month spread, it currently stands #52 of the 115 groups Zensei tracks.
On the shorter tape, PEJ's momentum is weakening: the intraday trend that carried the move is cooling across the shorter windows. PEJ's relative-strength line has dropped below its moving averages — the outperformance trend is fading. Both signals point the same direction here: the market is not rewarding this group on either horizon.
The exposure comes via Invesco Leisure and Entertainment ETF, whose 31 tracked holdings are led by EXPEDIA GROUP INC, VIKING HOLDINGS LTD and SYSCO CORP. Weighted by portfolio, the fund's holdings trade at roughly 40.6× earnings and 4.3× sales. The thing to watch from here is the one-month spread: laggards only become interesting when the recent window turns positive first — until then, the market is voting elsewhere.
What's inside PEJ
Top 5 of 31 tracked holdings, by portfolio weight.
Leisure and Entertainment vs the market — common questions
Is leisure and entertainment outperforming the S&P 500?
Right now, no: over the past month PEJ has underperformed the S&P 500 by 1.1 points. This page updates daily, so the answer reflects current market data rather than a dated article.
What is PEJ?
PEJ is Invesco Leisure and Entertainment ETF, the fund Zensei uses to measure the leisure and entertainment group against the S&P 500 benchmark (SPY).
Which stocks are in PEJ?
PEJ's largest tracked positions are EXPEDIA GROUP INC, VIKING HOLDINGS LTD, SYSCO CORP, AIRBNB INC ORDINARY SHARES CLASS A, HILTON WORLDWIDE HOLDINGS INC — 31 holdings in total. The full list, with each stock measured against the group, is part of Zensei Premium.
What quadrant is leisure and entertainment in right now?
As of the latest daily data, leisure and entertainment is in the lagging quadrant — trailing the S&P 500 on both windows. The quadrant rules are documented on the Zensei methodology page.
Related sectors
Track leisure and entertainment 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.