Core, peel, and cut the pears and apples into large chunks.
In a large, heavy pot, toss with lemon juice to prevent discoloration.
Combine the pears and apples with the remaining ingredients and bring to a boil.
Reduce the heat and simmer, partially covered, for 15 minutes or until the fruit is tender but not mushy.
Uncover the pot, stir and cook 5 minutes more.
Adjust the flavors and remove from heat, stirring carefully so as not to break up the fruit too much.
Cool to room temperature.
Refrigerate, covered, for up to 4 days. Serves 6 to 8.