Do ARKK and PPA hold the same stocks?

By their latest filings, 5% of their books are the same securities at the same weight. Overlap is the sum of the smaller weight of every security they share.

Which is more different from the S&P 500, ARKK or PPA?

ARKK has 36% of its weight in S&P 500 names and PPA has 77%, so PPA differs more from the index.

Which is cheaper, ARKK or PPA?

ARKK charges 0.75% a year and PPA charges 0.58%, so PPA is cheaper. Fees come from each fund's prospectus.

Data as of Oct 28, 2026.

Thematic ETFs

ARKK vs PPA: Holdings Overlap & Returns

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Over the year to Oct 28, 2026, ARKK returned −3.5% to PPA's −0.2%; 5% of their weight is in the same names.

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Net assets on Oct 27, 2026: $6.6bn for ARK Innovation ETF and $7.4bn for Invesco Aerospace & Defense ETF.

ARKK on its own →PPA on its own →

At a glance

36.0%

ARKK in the S&P 500

76.7%

PPA in the S&P 500

−3.5%

ARKK total return, 1 year

−0.2%

PPA total return, 1 year

ARKK · 1 year to Oct 28, 2026 64% of its weight is outside the S&P 500

36% of ARKK's weight is in S&P 500 companies and 64% is outside the index. Holdings as of Oct 27, 2026.

PPA · 1 year to Oct 28, 2026 23% of its weight is outside the S&P 500

77% of PPA's weight is in S&P 500 companies and 23% is outside the index. Holdings as of Oct 27, 2026.

Pair scorecard

PPA costs 0.17 points a year less; their one-year returns differ by 3.3 points; PPA is 1.1 times larger.

Points (pts) are percentage points.

ARKK vs PPA: Holdings Overlap & Returns
Measure	ARKK	PPA
Return
Measure	ARKK	PPA
Total return, 1 year	−3.5%	−0.2%
Drawdown
Measure	ARKK	PPA
Below its all-time high	44.2%, high on Feb 12, 2021	14.5%, high on Mar 2, 2026
Against its benchmark
Measure	ARKK	PPA
What it tracks	Broad innovation and megatrends	Defense
Against the S&P 500, 1 year	behind by 17.2 pts	behind by 13.9 pts
Its benchmark, total return, 1 year	+13.7%	+13.7%
Against its benchmark, 1 year	behind by 17.2 pts	behind by 13.9 pts
Cost and size
Measure	ARKK	PPA
Expense ratio	0.75%	0.58%
Net assets, as of Oct 27, 2026	$6.6bn	$7.4bn
Holdings
Measure	ARKK	PPA
Holdings in common	5%

Holdings in common uses holdings dated Oct 27, 2026. Method

Risk and return

Nov 7, 2014 to Oct 23, 2026 · 624 weekly returns

ARKK PPA

Return

Total return edge PPA +350.6% +410.7%

Annualized edge PPA (slight) +13.4% +14.6%

Price return edge PPA +307.5% +358.0%

Risk

Volatility edge PPA 37.4% 21.2%

Max drawdown edge PPA −80.1% −41.9%

Downside capture 139.9% 98.7%

Beta 1.68 1.03

Risk-adjusted

Sharpe edge PPA 0.46 0.65

Sortino edge PPA 0.70 0.95

Treynor 0.103 0.121

Calmar edge PPA 0.17 0.35

Against the benchmark

Alpha −2.7% a year +1.8% a year

Alpha t-stat −0.37 0.77

Information ratio 0.20 0.20

Tracking error 27.5% 10.7%

Each against its own benchmark: ARKK against VOO, Nov 7, 2014 to Oct 23, 2026; PPA against IVV, Nov 4, 2005 to Oct 23, 2026.

Reading

PPA returned more: +410.7% to +350.6%. PPA swung less: 21.2% to 37.4%. PPA fell less at its worst: −41.9% to −80.1%.

Full scorecard

19 measures, with how each is measured Open ↓

Risk and return: ARKK vs PPA: Holdings Overlap & Returns
Measure	ARKK	PPA	Edge	How it is measured
Return
Total return	+350.6%	+410.7%	PPA	Price change plus distributions, reinvested.
Annualized	+13.4%	+14.6%	PPA (slight)	Total return as a yearly rate.
Price return	+307.5%	+358.0%	PPA	Price change alone, distributions left out.
Risk
Volatility	37.4%	21.2%	PPA	Spread of weekly returns, annualized. Lower is steadier.
Downside deviation	24.8%	14.4%	PPA	Like volatility, counting only weeks below the Treasury bill rate.
Max drawdown	−80.1%	−41.9%	PPA	Deepest fall from a high to the low after it.
Upside capture	236.0%	102.4%		Share of its benchmark's rise caught in the weeks it rose.
Downside capture	139.9%	98.7%		Share of its benchmark's fall taken in the weeks it fell. Lower is better.
Beta	1.68	1.03	Not an edge	How far it moves for each 1% its benchmark moves.
R squared	0.55	0.74	Not an edge	Share of its weekly moves its benchmark explains.
Risk-adjusted
Sharpe	0.46	0.65	PPA	Return above Treasury bills per unit of volatility.
Sortino	0.70	0.95	PPA	Return above Treasury bills per unit of downside deviation.
Treynor	0.103	0.121		Return above Treasury bills per unit of beta.
Calmar	0.17	0.35	PPA	Annualized return divided by the max drawdown.
Against the benchmark
Benchmark	VOO	IVV		The ETF each fund is measured against.
Alpha	−2.7% a year	+1.8% a year	Not significant	Yearly return beyond what its beta to the benchmark predicts.
Alpha t-stat	−0.37	0.77	Not an edge	How sure the alpha is. Below 2, it could be chance.
Alpha range	−17.0% to +11.6%	−2.8% to +6.4%	Includes zero	The 95% range for the yearly alpha.
Information ratio	0.20	0.20		Return against its benchmark per unit of tracking error.
Tracking error	27.5%	10.7%	Not an edge	How far weekly returns stray from the benchmark, annualized.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 624 weekly returns. Cash rate: the 13-week Treasury bill.

What they share

By the books each fund has filed, ARKK and PPA hold 5% of their money in the same securities at the same weight. Holdings dated Oct 27, 2026.

50%

0 half 100%

half

5% in common

Positions both hold · largest shared weight first ARKK PPA

PALANTIR TECHNOLOGIES INC-A 2.70% 1.75%

SPACE EXPLORATION TECHN-CL A 6.42% 0.92%

ROCKET LAB 1.32% 0.85%

BWX TECHNOLOGIES INC 1.02% 0.68%

Kratos Defense & Security Solutions Inc 1.10% 0.59%

Only in one fund ↓

Only in ARKK

TESLA INC 10.99%

TEMPUS AI INC-CL A 5.47%

CIRCLE INTERNET GROUP INC 4.79%

CRISPR THERAPEUTICS AG 4.32%

COINBASE GLOBAL INC -CLASS A 4.01%

OPENAI GROUP PBC SERIES C 3.79%

TWIST BIOSCIENCE CORP 3.46%

SHOPIFY INC - CLASS A 3.14%

Only in PPA

Lockheed Martin Corp 9.65%

RTX Corp 9.32%

General Electric Co 8.53%

Boeing Co 7.79%

General Dynamics Corp 5.51%

Northrop Grumman Corp 5.30%

Honeywell Aerospace Inc 4.08%

L3Harris Technologies Inc 4.07%

Check overlap with more funds →

Window by window

Window by window: ARKK vs PPA: Holdings Overlap & Returns
	Total return		vs its benchmark
Window	ARKK	PPA	ARKK	PPA
3 months	+22.0%	−7.2%	+15.9 pts vs VOO	−13.3 pts vs IVV
6 months	+17.1%	−3.0%	+8.0 pts vs VOO	−12.1 pts vs IVV
1 year	−3.5%	−0.2%	−17.2 pts vs VOO	−13.9 pts vs IVV
3 years	+152.6%	+102.1%	+57.1 pts vs VOO	+6.7 pts vs IVV
Since launchNot the same days: ARKK Oct 2014 · PPA Oct 2005	+367.2%	+1,190.0%	−3.5 pts vs VOO	not measured

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Side by side

ARKK ARK Innovation ETF · Holds 46 stocks in broad innovation and megatrends, 36% of its weight in S&P 500 companies PPA Invesco Aerospace & Defense ETF · Holds 70 stocks in defense, 77% of its weight in S&P 500 companies

Issuer ARK Invesco

Theme Broad innovation and megatrends Defense

In the S&P 500 36.0% 76.7%

Active share vs the S&P 500 85.3% 96.4%

In the Nasdaq-100 28.9% 3.8%

Holdings 46 70

Top ten, share of the fund 49.4% 61.2%

Expense ratio 0.75% 0.58%

Fee for the differing part 0.88% 0.60%

Total return, 1 year −3.5% −0.2%

vs its benchmark −17.2 pts vs VOO −13.9 pts vs IVV

Below its high −44.2% −14.5%

Net assets, as of Oct 27, 2026 $6.6bn $7.4bn

As of Oct 28, 2026. Source: ETFIQ.

5% of the two portfolios are the same securities at the same weight.

Client brief · page 1 of 2 Report BR-72F41BBC88

ARKK and PPA are built for the same job. How do they differ in cost, holdings and results?

Theme. ARKK covers Broad innovation and megatrends and PPA covers Defense.
Concentration. The top ten holdings are 49.4% of ARKK and 61.2% of PPA, a gap of 11.8 points.
What each follows. ARKK follows Broad innovation and megatrends and PPA follows Defense.

Data as of Oct 28, 2026.

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About each fund

ARKK

By weight, 36% of ARKK's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 85%. The top ten holdings are 49% of the fund across 46 positions, as published by its issuer for Oct 27, 2026. Over the year to Oct 28, 2026 the fund returned −3.5% with distributions reinvested against +13.7% for its benchmark, the S&P 500 Index, so a holder was behind by 17.2 pts. It sits 44.2% below its all-time high of Feb 12, 2021.

PPA

By weight, 77% 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 61% of the fund across 70 positions, as published by its issuer for Oct 27, 2026. Over the year to Oct 28, 2026 the fund returned −0.2% with distributions reinvested against +13.7% for its benchmark, the S&P 500 Index, so a holder was behind by 13.9 pts. It sits 14.5% below its all-time high of Mar 2, 2026.

Questions people ask

Do ARKK and PPA hold the same stocks?: By their latest filings, 5% of their books are the same securities at the same weight. Overlap is the sum of the smaller weight of every security they share.
Which is more different from the S&P 500, ARKK or PPA?: ARKK has 36% of its weight in S&P 500 names and PPA has 77%, so PPA differs more from the index.
Which is cheaper, ARKK or PPA?: ARKK charges 0.75% a year and PPA charges 0.58%, so PPA is cheaper. Fees come from each fund's prospectus.

Other comparisons

ARKK vs XAR ARKK vs ITA ARKK vs SHLD ARKK vs IDEF PPA vs XT PPA vs BOTZ PPA vs EUAD PPA vs MISL

Where to next

All thematic ETFs ranked by the S&P 500 Difference Score →How the scores are computed →ARKK on its own →PPA on its own →ARKK holdings →PPA dividend history →PPA holdings →Method →Standards and sources →

Sources and dates

ARKK filings on SEC EDGAR ↗

ARKK prospectus with the expense ratio (SEC) ↗

ARK page for ARKK ↗

PPA filings on SEC EDGAR ↗

PPA prospectus with the expense ratio (SEC) ↗

Invesco page for PPA ↗

Links are sources, not endorsements. A comparison is not a recommendation.

How this is computed

Overlap adds up the smaller of the two weights for each security both funds hold.

Every number is an ETFIQ calculation with distributions reinvested.

Cite this pageCitation, APA and Markdown

ETFIQ, ARKK against PPA, data as of Oct 28, 2026. https://etfiq.com/compare/themes/arkk-vs-ppa

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Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.