Data as of . Every figure is the themes desk's own, on published data.
IGV vs PPA
1% of the two portfolios are the same securities at the same weight.
What they hold in common
By the books each fund has filed, IGV and PPA hold 1% of their money in the same securities at the same weight.
| Holding | IGV | PPA |
|---|---|---|
| Palantir Technologies, Inc. | 7.71% | 1.23% |
| Only in IGV | Only in PPA |
|---|---|
| Palo Alto Networks, Inc. 10.38% | Boeing Co. (The) 9.11% |
| Microsoft Corp. 8.08% | General Electric Co. 7.85% |
| Crowdstrike Holdings, Inc. 7.29% | RTX Corp. 7.13% |
| Oracle Corp. 6.26% | Lockheed Martin Corp. 6.39% |
| Salesforce, Inc. 4.81% | General Dynamics Corp. 4.52% |
| AppLovin Corp. 4.76% | Northrop Grumman Corp. 4.46% |
| Cadence Design Systems, Inc. 3.92% | Honeywell International Inc. 4.39% |
| ServiceNow, Inc. 3.87% | 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 Jun 30, 2026.
Performance, window by window
| Window | Total return | vs the S&P 500 | vs the Nasdaq-100 | |||
|---|---|---|---|---|---|---|
| IGV | PPA | IGV | PPA | IGV | PPA | |
| 3 months | +9.1% | −3.0% | +4.4 pts | −7.7 pts | +7.0 pts | −5.1 pts |
| 6 months | +18.9% | −8.5% | +3.7 pts | −23.7 pts | −1.3 pts | −28.7 pts |
| 1 year | −2.1% | +12.6% | −22.1 pts | −7.3 pts | −27.7 pts | −13.0 pts |
| 3 years | +43.9% | +100.0% | −34.1 pts | +22.1 pts | −49.6 pts | +6.5 pts |
| Since launch | +1031.5% | +1021.7% | +220.2 pts | +210.4 pts | −652.5 pts | −662.3 pts |
| IGV iShares Expanded Tech-Software Sector ETF | PPA Invesco Aerospace & Defense ETF | |
|---|---|---|
| Issuer | iShares | Invesco |
| Theme | Cloud and software | Defense |
| In the S&P 500 | 83.2% | 71.1% |
| Active share vs the S&P 500 | 92.4% | 96.4% |
| In the Nasdaq-100 | 66.9% | 7.3% |
| Holdings | 107 | 60 |
| Top ten, share of the fund | 60.7% | 55.5% |
| Expense ratio | not published | 0.58% |
| Fee for the differing part | not published | 0.60% |
| Total return, 1 year | −2.1% | +12.6% |
| vs the S&P 500 | −22.1 pts | −7.3 pts |
| vs the Nasdaq-100 | −27.7 pts | −13.0 pts |
| Below its high | −11.2% | −10.9% |
IGV in plain words
By weight, 83% of IGV'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 61% of the fund across 107 positions, as filed for Jun 30, 2026. Over the year to Sep 4, 2026 the fund returned −2.1% with distributions reinvested against +20.0% for the S&P 500, so a holder was behind by 22.1 pts. It sits 11.2% below its all-time high of Sep 22, 2025.
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 IGV and PPA hold the same stocks?
- By their latest filings, 1% 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, IGV or PPA?
- IGV has 83% 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, IGV against PPA, data as of Sep 4, 2026. https://etfiq.com/compare/themes/IGV-PPA.html Free to use with attribution; the underlying files are at Open data.