PEP and KO are mature companies with little grow opportunities, enough to know they are well managed and there is no outstanding risks on them other than macro environment.For me, I see KO as slightly better for value investors who seek current income and stability though most any conditions, at least when viewed over longer periods. The brand name is one of the best known globally, and the company operates very efficiently. While it's a winning formula YoY, it has few untapped markets left to expand into easily.Again, Pepsi is similar, but likely has both more growth potential and downside risk. Brand names like Frito Lay have room to increase sales faster than most of KO's staples. In a different future political climate, the US regulating snack foods would have a more significant impact