Data as of Nov 4, 2026.
GNR vs PPA: Holdings Overlap & Returns
Over the year to Nov 4, 2026, GNR returned +32.9% to PPA's +1.6%; 0% of their weight is in the same names.
askIQ about this page
askIQ about GNR and PPA
Net assets on Nov 3, 2026: $5.3bn for State Street SPDR S&P Global Natural Resources ETF and $7.7bn for Invesco Aerospace & Defense ETF.
26% of GNR's weight is in S&P 500 companies and 74% is outside the index. Holdings as of Nov 3, 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
GNR costs 0.18 points a year less; their one-year returns differ by 31.3 points; PPA is 1.5 times larger.
Points (pts) are percentage points.
| Measure | GNR | PPA |
|---|---|---|
| Return | ||
| Total return, 1 year | +32.9% | +1.6% |
| Drawdown | ||
| Below its all-time high | 6.8%, high on Sep 9, 2026 | 14.9%, high on Mar 2, 2026 |
| Against its benchmark | ||
| What it tracks | Natural resources | 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 | 0.40% | 0.58% |
| Net assets, as of Nov 3, 2026 | $5.3bn | $7.7bn |
| Holdings | ||
| Holdings in common | 0% | |
| Top ten holdings, share of the fund | 36% | 62% |
What they share
By the books each fund has filed, GNR and PPA hold 0% of their money in the same securities at the same weight. Holdings dated Nov 3, 2026.
half
0% in common
Only in one fund ↓
Window by window
| Total return | vs its benchmark | |||
|---|---|---|---|---|
| Window | GNR | PPA | GNR | PPA |
| 3 months | +1.4% | −14.0% | not measured | −13.9 pts vs IVV |
| 6 months | +0.4% | −6.3% | not measured | −11.3 pts vs IVV |
| 1 year | +32.9% | +1.6% | not measured | −13.2 pts vs IVV |
| 3 years | +50.3% | +90.4% | not measured | +7.0 pts vs IVV |
| Since launchNot the same days: GNR Sep 2010 · PPA Oct 2005 | +138.2% | +1,183.3% | not measured | not measured |
Side by side
As of Nov 4, 2026. Source: ETFIQ.
0% of the two portfolios are the same securities at the same weight.
Client brief:
The two-page PDF for this pair is coming. Save the comparison to follow its changes. Free. It needs an email sign-in, once.
GNR
By weight, 26% of GNR'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 36% of the fund across 104 positions, as published by its issuer for Nov 3, 2026. Over the year to Nov 4, 2026 the fund returned +32.9% with distributions reinvested. It sits 6.8% below its all-time high of Sep 9, 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 GNR and PPA hold the same stocks?
- By their latest filings, 0% 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
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, GNR against PPA, data as of Nov 4, 2026. https://etfiq.com/compare/themes/gnr-vs-ppa
ETFIQ. (Nov 4, 2026). GNR against PPA. Retrieved from https://etfiq.com/compare/themes/gnr-vs-ppa
[GNR against PPA (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/themes/gnr-vs-ppa)
Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.