Data as of . Every figure is the themes desk's own, on published data.
NASA vs PPA
6% of the two portfolios are the same securities at the same weight.
What they hold in common
By the books each fund has filed, NASA and PPA hold 6% of their money in the same securities at the same weight.
| Holding | NASA | PPA |
|---|---|---|
| Rocket Lab Corp | 12.12% | 2.77% |
| Planet Labs PBC | 7.32% | 1.05% |
| Viasat Inc | 4.05% | 0.69% |
| nLight Inc | 2.37% | 0.24% |
| Firefly Aerospace Inc | 5.42% | 0.24% |
| Redwire Corp | 0.84% | 0.16% |
| Iridium Communications Inc | 2.89% | 0.12% |
| BlackSky Technology Inc | 4.33% | 0.11% |
| Voyager Technologies Inc | 2.92% | 0.10% |
| Only in NASA | Only in PPA |
|---|---|
| Intuitive Machines Inc 7.17% | Boeing Co. (The) 9.11% |
| SpaceX SPV Exposure (Preferred) 6.47% | General Electric Co. 7.85% |
| AST SpaceMobile Inc 6.19% | RTX Corp. 7.13% |
| 5N Plus Inc 4.08% | Lockheed Martin Corp. 6.39% |
| MDA Space Ltd 3.63% | General Dynamics Corp. 4.52% |
| Astroscale Holdings Inc 3.31% | Northrop Grumman Corp. 4.46% |
| York Space Systems Inc 3.05% | Honeywell International Inc. 4.39% |
| Filtronic PLC 3.03% | 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 May 31, 2026.
Performance, window by window
| Window | Total return | vs the S&P 500 | vs the Nasdaq-100 | |||
|---|---|---|---|---|---|---|
| NASA | PPA | NASA | PPA | NASA | PPA | |
| 3 months | −27.9% | −3.0% | −32.6 pts | −7.7 pts | −30.0 pts | −5.1 pts |
| 6 months | n/a | −8.5% | n/a | −23.7 pts | n/a | −28.7 pts |
| 1 year | n/a | +12.6% | n/a | −7.3 pts | n/a | −13.0 pts |
| 3 years | n/a | +100.0% | n/a | +22.1 pts | n/a | +6.5 pts |
| Since launch | −6.6% | +1021.7% | −25.3 pts | +210.4 pts | −31.3 pts | −662.3 pts |
| NASA Tema Space Innovators ETF | PPA Invesco Aerospace & Defense ETF | |
|---|---|---|
| Issuer | Tema | Invesco |
| Theme | Space | Defense |
| In the S&P 500 | 2.4% | 71.1% |
| Active share vs the S&P 500 | 100.0% | 96.4% |
| In the Nasdaq-100 | 0.0% | 7.3% |
| Holdings | 37 | 60 |
| Top ten, share of the fund | 60.8% | 55.5% |
| Expense ratio | 0.75% | 0.58% |
| Fee for the differing part | 0.75% | 0.60% |
| Total return, 1 year | −6.6% (since launch on Mar 31, 2026) | +12.6% |
| vs the S&P 500 | −25.3 pts | −7.3 pts |
| vs the Nasdaq-100 | −31.3 pts | −13.0 pts |
| Below its high | −43.9% | −10.9% |
NASA in plain words
By weight, 2% of NASA's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 100%. The top ten holdings are 61% of the fund across 37 positions, as filed for May 31, 2026. Over the year to Sep 4, 2026 the fund returned −6.6% with distributions reinvested against +18.7% for the S&P 500, so a holder was behind by 25.3 pts. It sits 43.9% below its all-time high of May 27, 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 NASA and PPA hold the same stocks?
- By their latest filings, 6% 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, NASA or PPA?
- NASA has 2% of its weight in S&P 500 names and PPA has 71%, so NASA differs more from the index.
- Which is cheaper, NASA or PPA?
- NASA charges 0.75% a year and PPA charges 0.58%, so PPA 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, NASA against PPA, data as of Sep 4, 2026. https://etfiq.com/compare/themes/NASA-PPA.html Free to use with attribution; the underlying files are at Open data.