Data as of . Every figure is the themes desk's own, on published data.
PPA vs XT
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, PPA and XT hold 2% of their money in the same securities at the same weight.
| Holding | PPA | XT |
|---|---|---|
| Northrop Grumman Corp. | 4.46% | 0.80% |
| Eaton Corp. PLC | 2.35% | 0.55% |
| Palantir Technologies Inc. | 1.23% | 0.34% |
| Amphenol Corp. | 2.34% | 0.24% |
| Only in PPA | Only in XT |
|---|---|
| Boeing Co. (The) 9.11% | TEXAS INSTRUMENTS INCORPORATED 5.05% |
| General Electric Co. 7.85% | NVIDIA CORPORATION 4.02% |
| RTX Corp. 7.13% | ANALOG DEVICES, INC. 4.00% |
| Lockheed Martin Corp. 6.39% | MICROSOFT CORPORATION 3.62% |
| General Dynamics Corp. 4.52% | TESLA, INC. 3.52% |
| Honeywell International Inc. 4.39% | ELI LILLY AND COMPANY 3.41% |
| Howmet Aerospace Inc. 4.18% | AMAZON.COM, INC. 3.18% |
| L3Harris Technologies, Inc. 3.76% | ALPHABET INC. 2.84% |
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 | |||
|---|---|---|---|---|---|---|
| PPA | XT | PPA | XT | PPA | XT | |
| 3 months | −3.0% | +3.1% | −7.7 pts | −1.6 pts | −5.1 pts | +1.0 pts |
| 6 months | −8.5% | +18.7% | −23.7 pts | +3.5 pts | −28.7 pts | −1.5 pts |
| 1 year | +12.6% | +31.3% | −7.3 pts | +11.3 pts | −13.0 pts | +5.7 pts |
| 3 years | +100.0% | +62.6% | +22.1 pts | −15.3 pts | +6.5 pts | −30.9 pts |
| Since launch | +1021.7% | +285.1% | +210.4 pts | −59.8 pts | −662.3 pts | −339.5 pts |
| PPA Invesco Aerospace & Defense ETF | XT iShares Future Exponential Technologies ETF | |
|---|---|---|
| Issuer | Invesco | iShares |
| Theme | Defense | Broad innovation and megatrends |
| In the S&P 500 | 71.1% | 65.9% |
| Active share vs the S&P 500 | 96.4% | 66.8% |
| In the Nasdaq-100 | 7.3% | 42.9% |
| Holdings | 60 | 218 |
| Top ten, share of the fund | 55.5% | 34.7% |
| Expense ratio | 0.58% | 0.46% |
| Fee for the differing part | 0.60% | 0.69% |
| Total return, 1 year | +12.6% | +31.3% |
| vs the S&P 500 | −7.3 pts | +11.3 pts |
| vs the Nasdaq-100 | −13.0 pts | +5.7 pts |
| Below its high | −10.9% | −1.8% |
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.
XT in plain words
By weight, 66% of XT's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 67%. The top ten holdings are 35% of the fund across 218 positions, as filed for Apr 30, 2026. Over the year to Sep 4, 2026 the fund returned +31.3% with distributions reinvested against +20.0% for the S&P 500, so a holder was ahead by 11.3 pts.
Questions people ask
- Do PPA and XT 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, PPA or XT?
- PPA has 71% of its weight in S&P 500 names and XT has 66%, so PPA differs more from the index.
- Which is cheaper, PPA or XT?
- PPA charges 0.58% a year and XT charges 0.46%, so XT 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, PPA against XT, data as of Sep 4, 2026. https://etfiq.com/compare/themes/PPA-XT.html Free to use with attribution; the underlying files are at Open data.