Data as of Sep 4, 2026. Both funds on the fields they both publish, from the same sources.
PPA vs VOO
Invesco Aerospace & Defense ETF and Vanguard 500 Index Fund.
What they hold in common
By the books each fund has filed, PPA and VOO hold 4% of their money in the same securities at the same weight.
| Holding | PPA | VOO |
|---|---|---|
| General Electric Co. | 7.85% | 0.61% |
| Palantir Technologies Inc. | 1.23% | 0.42% |
| RTX Corp. | 7.13% | 0.40% |
| Amphenol Corp. | 2.34% | 0.34% |
| Boeing Co. (The) | 9.11% | 0.27% |
| Eaton Corp. PLC | 2.35% | 0.26% |
| Parker-Hannifin Corp. | 3.74% | 0.19% |
| Howmet Aerospace Inc. | 4.18% | 0.17% |
| Lockheed Martin Corp. | 6.39% | 0.16% |
| General Dynamics Corp. | 4.52% | 0.14% |
| TransDigm Group Inc. | 2.62% | 0.12% |
| Northrop Grumman Corp. | 4.46% | 0.11% |
| Only in PPA | Only in VOO |
|---|---|
| Honeywell International Inc. 4.39% | NVIDIA Corp 7.53% |
| Elbit Systems Ltd. 3.58% | Apple Inc 6.61% |
| Rocket Lab Corp. 2.77% | Microsoft Corp 4.31% |
| Curtiss-Wright Corp. 1.73% | Amazon.com Inc 3.63% |
| ATI Inc. 1.36% | Alphabet Inc 3.26% |
| Carpenter Technology Corp. 1.35% | Broadcom Inc 2.78% |
| Woodward, Inc. 1.29% | Alphabet Inc 2.60% |
| HEICO Corp. 1.23% | Micron Technology Inc 2.02% |
Weight overlap is an ETFIQ calculation: for every security both funds hold, the smaller of the two weights, summed. Above 50%, holding both is close to holding one of them twice. Holdings as filed for Apr 30, 2026 and Jun 30, 2026.
| PPA Invesco Aerospace & Defense ETF | VOO Vanguard 500 Index Fund | |
|---|---|---|
| Where it sits | Themes desk | Core fund |
| Issuer | Invesco | Vanguard |
| What it is | Defense | S&P 500 |
| Total return, 1 year | +12.6% | +20.1% |
| S&P 500 over the same days | +20.0% | +20.0% |
| Gap to the S&P 500 | −7.3 pts | +0.1 pts |
| Expense ratio | 0.58% | 0.03% |
| Already in the S&P 500 | 71.1% | 100.0% |
| Holdings | 60 | 506 |
PPA in plain words
By weight, 71% of PPA's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 96%. The top ten holdings are 56% of the fund across 60 positions, as filed for Apr 30, 2026. Over the year to Sep 4, 2026 the fund returned +12.6% with distributions reinvested against +20.0% for the S&P 500, so a holder was behind by 7.3 pts. It sits 10.9% below its all-time high of Mar 2, 2026.
VOO in plain words
VOO is a index equity fund tracking S&P 500. Over the year to Sep 4, 2026 it returned +20.1% with distributions reinvested, against +20.0% for the S&P 500 and +25.6% for the Nasdaq-100. The prospectus expense ratio is 0.03% a year. By its holdings filed for Jun 30, 2026, 100% of the fund by weight is stocks the S&P 500 also holds, across 506 positions, with the top ten at 36.5%.
Questions people ask
- Which returned more over the last year, PPA or VOO?
- In the year to Sep 4, 2026, with distributions reinvested, PPA returned +12.6% and VOO returned +20.1%, so VOO returned more. One year is one year; the longer windows are in the table.
- Which is cheaper, PPA or VOO?
- PPA charges 0.58% a year and VOO charges 0.03%, so VOO is cheaper. Fees come from each fund's prospectus.
- How much do PPA and VOO overlap with the S&P 500?
- By their latest filed holdings, 71% of PPA and 100% of VOO by weight is stocks the S&P 500 already holds. Between the two funds, 4% of their books are the same securities at the same weight.
- Are PPA and VOO the same kind of fund?
- No. PPA is a thematic ETF and VOO is an index ETF, so they are built for different jobs. The table compares what both publish: return, cost and what each actually holds.
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Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, PPA against VOO, data as of Sep 4, 2026. https://etfiq.com/compare/any/PPA-VOO.html Free to use with attribution; the underlying files are at Open data.
A comparison is not a recommendation. Standards and sources