Data as of . Every figure is the themes desk's own, on published data.
ITA vs PPA
66% of the two portfolios are the same securities at the same weight.
What they hold in common
By the books each fund has filed, ITA and PPA hold 66% of their money in the same securities at the same weight.
| Holding | ITA | PPA |
|---|---|---|
| THE BOEING COMPANY | 8.90% | 9.11% |
| GENERAL ELECTRIC COMPANY | 22.63% | 7.85% |
| RTX CORPORATION | 14.83% | 7.13% |
| GENERAL DYNAMICS CORPORATION | 4.34% | 4.52% |
| HOWMET AEROSPACE INC. | 4.50% | 4.18% |
| LOCKHEED MARTIN CORPORATION | 4.05% | 6.39% |
| Northrop Grumman Corporation | 3.92% | 4.46% |
| L3HARRIS TECHNOLOGIES, INC. | 3.80% | 3.76% |
| ROCKET LAB CORPORATION | 3.63% | 2.77% |
| TRANSDIGM GROUP INCORPORATED | 4.59% | 2.62% |
| CURTISS-WRIGHT CORPORATION | 1.97% | 1.73% |
| AXON ENTERPRISE, INC. | 3.17% | 1.67% |
| Only in ITA | Only in PPA |
|---|---|
| FTAI Aviation Ltd. 1.95% | Honeywell International Inc. 4.39% |
| HEICO CORPORATION 1.41% | Parker-Hannifin Corp. 3.74% |
| VSE CORPORATION 0.45% | Elbit Systems Ltd. 3.58% |
| Archer Aviation Inc 0.21% | Eaton Corp. PLC 2.35% |
| INTUITIVE MACHINES, INC. 0.19% | Amphenol Corp. 2.34% |
| ASTRONICS CORPORATION 0.18% | Palantir Technologies Inc. 1.23% |
| RED CAT HOLDINGS, INC. 0.10% | Planet Labs PBC 1.05% |
| SMITH & WESSON BRANDS, INC. 0.05% | Keysight Technologies, Inc. 1.02% |
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.
Performance, window by window
| Window | Total return | vs the S&P 500 | vs the Nasdaq-100 | |||
|---|---|---|---|---|---|---|
| ITA | PPA | ITA | PPA | ITA | PPA | |
| 3 months | −1.6% | −3.0% | −6.3 pts | −7.7 pts | −3.7 pts | −5.1 pts |
| 6 months | −6.7% | −8.5% | −21.9 pts | −23.7 pts | −26.9 pts | −28.7 pts |
| 1 year | +14.2% | +12.6% | −5.7 pts | −7.3 pts | −11.4 pts | −13.0 pts |
| 3 years | +100.8% | +100.0% | +22.9 pts | +22.1 pts | +7.4 pts | +6.5 pts |
| Since launch | +937.0% | +1021.7% | +125.7 pts | +210.4 pts | −747.0 pts | −662.3 pts |
| ITA iShares U.S. Aerospace & Defense ETF | PPA Invesco Aerospace & Defense ETF | |
|---|---|---|
| Issuer | iShares | Invesco |
| Theme | Defense | Defense |
| In the S&P 500 | 76.6% | 71.1% |
| Active share vs the S&P 500 | 97.9% | 96.4% |
| In the Nasdaq-100 | 3.2% | 7.3% |
| Holdings | 49 | 60 |
| Top ten, share of the fund | 75.2% | 55.5% |
| Expense ratio | not published | 0.58% |
| Fee for the differing part | not published | 0.60% |
| Total return, 1 year | +14.2% | +12.6% |
| vs the S&P 500 | −5.7 pts | −7.3 pts |
| vs the Nasdaq-100 | −11.4 pts | −13.0 pts |
| Below its high | −10.9% | −10.9% |
ITA in plain words
By weight, 77% of ITA's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 98%. The top ten holdings are 75% of the fund across 49 positions, as filed for Jun 30, 2026. Over the year to Sep 4, 2026 the fund returned +14.2% with distributions reinvested against +20.0% for the S&P 500, so a holder was behind by 5.7 pts. It sits 10.9% below its all-time high of Aug 14, 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 ITA and PPA hold the same stocks?
- By their latest filings, 66% of their books are the same securities at the same weight, which is close to holding one of them twice. Overlap is the sum of the smaller weight of every security they share.
- Which is more different from the S&P 500, ITA or PPA?
- ITA has 77% of its weight in S&P 500 names and PPA has 71%, so ITA 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, ITA against PPA, data as of Sep 4, 2026. https://etfiq.com/compare/themes/ITA-PPA.html Free to use with attribution; the underlying files are at Open data.