Data as of Nov 4, 2026.
AV vs PPA: Holdings Overlap & Returns
AV and PPA hold 53% of their weight in the same names.
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Net assets: $800,703 on Nov 4, 2026 for Corgi Aerospace & Commercial Aviation ETF, and $7.7bn on Nov 3, 2026 for Invesco Aerospace & Defense ETF.
67% of AV's weight is in S&P 500 companies and 33% is outside the index. Holdings as of Nov 4, 2026.
77% of PPA's weight is in S&P 500 companies and 23% is outside the index. Holdings as of Nov 3, 2026.
Pair scorecard
AV costs 0.23 points a year less.
Points (pts) are percentage points.
| Measure | AV | PPA |
|---|---|---|
| Return | ||
| Total return, 1 year | not published | +1.6% |
| Drawdown | ||
| Below its all-time high | 10.0%, high on Aug 5, 2026 | 14.9%, high on Mar 2, 2026 |
| Against its benchmark | ||
| What it tracks | Defense | Defense |
| Against the S&P 500, 1 year | behind by 13.2 pts | |
| Its benchmark, total return, 1 year | +14.8% | |
| Against its benchmark, 1 year | behind by 13.2 pts | |
| Cost and size | ||
| Expense ratio | 0.35% | 0.58% |
| Net assets, as of Nov 3, 2026 | $796,641 | $7.7bn |
| Holdings | ||
| Holdings in common | 53% | |
How different its holdings are from the S&P 500, ranked against 114 thematic ETFs with at least half their money in S&P 500 companies. 100 is best. How it is computed
Weight not shared with the S&P 500 only; it says nothing about returns, fees or whether the theme pays off. All thematic ETFs ranked by it →
What they share
By the books each fund has filed, AV and PPA hold 53% of their money in the same securities at the same weight. Holdings dated Nov 3, 2026 and Nov 4, 2026.
half
53% in common
Only in one fund ↓
Window by window
| Total return | vs its benchmark | |||
|---|---|---|---|---|
| Window | AV | PPA | AV | PPA |
| 3 months | −10.0% | −14.0% | not measured | −13.9 pts vs IVV |
| 6 months | +1.0% | −6.3% | not measured | −11.3 pts vs IVV |
| 1 year | – | +1.6% | – | −13.2 pts vs IVV |
| 3 years | – | +90.4% | – | +7.0 pts vs IVV |
| Since launchNot the same days: AV May 2026 · PPA Oct 2005 | +1.0% | +1,183.3% | not measured | not measured |
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Side by side
As of Nov 4, 2026. Source: ETFIQ.
53% of the two portfolios are the same securities at the same weight.
AV
By weight, 67% of AV'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 56% of the fund across 39 positions, as published by its issuer for Nov 4, 2026. Since it first traded on May 6, 2026 the fund returned +1.0% with distributions reinvested. It sits 10.0% below its all-time high of Aug 5, 2026.
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 62% of the fund across 70 positions, as published by its issuer for Nov 3, 2026. Over the year to Nov 4, 2026 the fund returned +1.6% with distributions reinvested against +14.8% for its benchmark, the S&P 500 Index, so a holder was behind by 13.2 pts. It sits 14.9% below its all-time high of Mar 2, 2026.
Questions people ask
- Do AV and PPA hold the same stocks?
- By their latest filings, 53% of their books are the same securities at the same weight. Overlap is the sum of the smaller weight of every security they share.
Links are sources, not endorsements. A comparison is not a recommendation.
How this is computed
It is a place in a set, not a rating or a recommendation.
Overlap adds up the smaller of the two weights for each security both funds hold.
Every number is an ETFIQ calculation with distributions reinvested.
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ETFIQ, AV against PPA, data as of Nov 4, 2026. https://etfiq.com/compare/themes/av-vs-ppa
ETFIQ. (Nov 4, 2026). AV against PPA. Retrieved from https://etfiq.com/compare/themes/av-vs-ppa
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