Data as of . Every figure is the themes desk's own, on published data.
BAI vs PPA
2% of the two portfolios are the same securities at the same weight.
What they hold in common
By the books each fund has filed, BAI and PPA hold 2% of their money in the same securities at the same weight.
| Holding | BAI | PPA |
|---|---|---|
| Palantir Technologies Inc | 1.08% | 1.23% |
| Kratos Defense & Security Solutions Inc | 0.96% | 1.00% |
| BWX Technologies Inc | 0.41% | 1.22% |
| Only in BAI | Only in PPA |
|---|---|
| Broadcom Inc 5.97% | Boeing Co. (The) 9.11% |
| NVIDIA Corp 5.43% | General Electric Co. 7.85% |
| SK hynix Inc 4.93% | RTX Corp. 7.13% |
| Taiwan Semiconductor Manufacturing Co Lt 4.64% | Lockheed Martin Corp. 6.39% |
| Alphabet Inc 4.26% | General Dynamics Corp. 4.52% |
| Tower Semiconductor Ltd 4.22% | Northrop Grumman Corp. 4.46% |
| Lam Research Corp 3.99% | Honeywell International Inc. 4.39% |
| Advanced Micro Devices Inc 3.84% | Howmet Aerospace Inc. 4.18% |
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.
Performance, window by window
| Window | Total return | vs the S&P 500 | vs the Nasdaq-100 | |||
|---|---|---|---|---|---|---|
| BAI | PPA | BAI | PPA | BAI | PPA | |
| 3 months | −2.1% | −3.0% | −6.8 pts | −7.7 pts | −4.2 pts | −5.1 pts |
| 6 months | +36.4% | −8.5% | +21.2 pts | −23.7 pts | +16.2 pts | −28.7 pts |
| 1 year | +43.1% | +12.6% | +23.1 pts | −7.3 pts | +17.5 pts | −13.0 pts |
| 3 years | n/a | +100.0% | n/a | +22.1 pts | n/a | +6.5 pts |
| Since launch | +81.2% | +1021.7% | +46.5 pts | +210.4 pts | +34.9 pts | −662.3 pts |
| BAI iShares A.I. Innovation and Tech Active ETF | PPA Invesco Aerospace & Defense ETF | |
|---|---|---|
| Issuer | iShares | Invesco |
| Theme | Artificial intelligence | Defense |
| In the S&P 500 | 50.0% | 71.1% |
| Active share vs the S&P 500 | 77.9% | 96.4% |
| In the Nasdaq-100 | 43.9% | 7.3% |
| Holdings | 45 | 60 |
| Top ten, share of the fund | 43.8% | 55.5% |
| Expense ratio | not published | 0.58% |
| Fee for the differing part | not published | 0.60% |
| Total return, 1 year | +43.1% | +12.6% |
| vs the S&P 500 | +23.1 pts | −7.3 pts |
| vs the Nasdaq-100 | +17.5 pts | −13.0 pts |
| Below its high | −17.8% | −10.9% |
BAI in plain words
By weight, 50% of BAI's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 78%. The top ten holdings are 44% of the fund across 45 positions, as filed for Apr 30, 2026. Over the year to Sep 4, 2026 the fund returned +43.1% with distributions reinvested against +20.0% for the S&P 500, so a holder was ahead by 23.1 pts. It sits 17.8% below its all-time high of Jun 22, 2026.
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.
Questions people ask
- Do BAI and PPA hold the same stocks?
- By their latest filings, 2% of their books are the same securities at the same weight, which is mostly different names. Overlap is the sum of the smaller weight of every security they share.
- Which is more different from the S&P 500, BAI or PPA?
- BAI has 50% of its weight in S&P 500 names and PPA has 71%, so PPA differs more from the index.
Other comparisons
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, BAI against PPA, data as of Sep 4, 2026. https://etfiq.com/compare/themes/BAI-PPA.html Free to use with attribution; the underlying files are at Open data.