Data as of . Every figure is the themes desk's own, on published data.
GRID vs PPA
3% of the two portfolios are the same securities at the same weight.
What they hold in common
By the books each fund has filed, GRID and PPA hold 3% of their money in the same securities at the same weight.
| Holding | GRID | PPA |
|---|---|---|
| Eaton Corporation Plc | 8.80% | 2.35% |
| Only in GRID | Only in PPA |
|---|---|
| Schneider Electric SE 9.11% | Boeing Co. (The) 9.11% |
| Johnson Controls International Plc 8.49% | General Electric Co. 7.85% |
| ABB Ltd 7.70% | RTX Corp. 7.13% |
| Quanta Services, Inc. 7.53% | Lockheed Martin Corp. 6.39% |
| National Grid Plc 4.14% | General Dynamics Corp. 4.52% |
| E.ON SE 4.11% | Northrop Grumman Corp. 4.46% |
| Prysmian SpA 3.53% | Honeywell International Inc. 4.39% |
| nVent Electric plc 2.83% | 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 and Sep 4, 2026.
Performance, window by window
| Window | Total return | vs the S&P 500 | vs the Nasdaq-100 | |||
|---|---|---|---|---|---|---|
| GRID | PPA | GRID | PPA | GRID | PPA | |
| 3 months | −4.2% | −3.0% | −8.9 pts | −7.7 pts | −6.3 pts | −5.1 pts |
| 6 months | +8.4% | −8.5% | −6.8 pts | −23.7 pts | −11.8 pts | −28.7 pts |
| 1 year | +26.6% | +12.6% | +6.6 pts | −7.3 pts | +1.0 pts | −13.0 pts |
| 3 years | +85.1% | +100.0% | +7.1 pts | +22.1 pts | −8.4 pts | +6.5 pts |
| Since launch | +554.4% | +1021.7% | −257.0 pts | +210.4 pts | −1129.7 pts | −662.3 pts |
| GRID First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund | PPA Invesco Aerospace & Defense ETF | |
|---|---|---|
| Issuer | First Trust | Invesco |
| Theme | Electrification and the grid | Defense |
| In the S&P 500 | 39.9% | 71.1% |
| Active share vs the S&P 500 | 91.9% | 96.4% |
| In the Nasdaq-100 | 8.6% | 7.3% |
| Holdings | 121 | 60 |
| Top ten, share of the fund | 58.4% | 55.5% |
| Expense ratio | 0.56% | 0.58% |
| Fee for the differing part | 0.61% | 0.60% |
| Total return, 1 year | +26.6% | +12.6% |
| vs the S&P 500 | +6.6 pts | −7.3 pts |
| vs the Nasdaq-100 | +1.0 pts | −13.0 pts |
| Below its high | −10.1% | −10.9% |
GRID in plain words
By weight, 40% of GRID's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 92%. The top ten holdings are 58% of the fund across 121 positions, as filed for Sep 3, 2026. Over the year to Sep 4, 2026 the fund returned +26.6% with distributions reinvested against +20.0% for the S&P 500, so a holder was ahead by 6.6 pts. It sits 10.1% below its all-time high of May 11, 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 GRID and PPA hold the same stocks?
- By their latest filings, 3% 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, GRID or PPA?
- GRID has 40% of its weight in S&P 500 names and PPA has 71%, so PPA differs more from the index.
- Which is cheaper, GRID or PPA?
- GRID charges 0.56% a year and PPA charges 0.58%, so GRID is cheaper. Fees come from each fund's prospectus.
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, GRID against PPA, data as of Sep 4, 2026. https://etfiq.com/compare/themes/GRID-PPA.html Free to use with attribution; the underlying files are at Open data.