Data as of .
IDEF vs PPA: which is really different?
PPA holds 71.8% of its weight in S&P 500 companies and IDEF 36.1%.
ETFIQ Off-Index Score: PPA scores higher
How much of it is not the index it is sold as an alternative to?
A percentile among the 371 thematic ETFs with a holdings filing. It is a position in a set, not a rating, and neither end of it is a recommendation. All thematic ETFs ranked by it · How it is computed
What they hold in common
By the books each fund has filed, IDEF and PPA hold 0% of their money in the same securities at the same weight.
| Only in IDEF | Only in PPA |
|---|---|
| RTX 6.72% | RTX Corp 8.29% |
| PALANTIR TECHNOLOGIES CLASS A 4.71% | Boeing Co/The 7.05% |
| LOCKHEED MARTIN CORP 3.62% | General Electric Co 6.94% |
| BOEING 3.32% | Lockheed Martin Corp 6.59% |
| ROLLS-ROYCE HOLDINGS PLC 3.30% | General Dynamics Corp 4.97% |
| GENERAL DYNAMICS CORP 2.97% | Northrop Grumman Corp 4.95% |
| USD CASH 2.72% | Howmet Aerospace Inc 3.92% |
| THALES SA 2.61% | Parker-Hannifin Corp 3.84% |
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 dated Sep 10, 2026.
Performance, window by window
| Window | Total return | vs the S&P 500 | vs the Nasdaq-100 | |||
|---|---|---|---|---|---|---|
| IDEF | PPA | IDEF | PPA | IDEF | PPA | |
| 3 months | −1.9% | −7.0% | −5.2 pts | −10.3 pts | −1.1 pts | −6.2 pts |
| 6 months | −8.5% | −6.5% | −24.5 pts | −22.5 pts | −29.2 pts | −27.2 pts |
| 1 year | +4.9% | +8.5% | −12.6 pts | −9.0 pts | −18.1 pts | −14.4 pts |
| 3 years | not published | +100.5% | not published | +22.6 pts | not published | +5.4 pts |
| Since launch | +26.5% | +998.8% | −6.4 pts | +194.5 pts | −13.6 pts | −675.1 pts |
| IDEF iShares Defense Industrials Active ETF Holds 152 stocks in defense, 36% of its weight in S&P 500 companies | PPA Invesco Aerospace & Defense ETF Holds 62 stocks in defense, 72% of its weight in S&P 500 companies | |
|---|---|---|
| Issuer | iShares | Invesco |
| Theme | Defense | Defense |
| In the S&P 500 | 36.1% | 71.8% |
| Active share vs the S&P 500 | 95.9% | 96.4% |
| In the Nasdaq-100 | 8.5% | 4.9% |
| Holdings | 152 | 62 |
| Top ten, share of the fund | 35.2% | 53.7% |
| Expense ratio | not published | 0.58% |
| Fee for the differing part | not published | 0.60% |
| Total return, 1 year | +4.9% | +8.5% |
| vs the S&P 500 | −12.6 pts | −9.0 pts |
| vs the Nasdaq-100 | −18.1 pts | −14.4 pts |
| Below its high | −13.9% | −12.7% |
IDEF in plain words
By weight, 36% of IDEF'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 35% of the fund across 152 positions, as published by its issuer for Sep 10, 2026. Over the year to Sep 11, 2026 the fund returned +4.9% with distributions reinvested against +17.5% for the S&P 500, so a holder was behind by 12.6 pts. It sits 13.9% below its all-time high of Mar 2, 2026.
PPA in plain words
By weight, 72% 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 54% of the fund across 62 positions, as published by its issuer for Sep 10, 2026. Over the year to Sep 11, 2026 the fund returned +8.5% with distributions reinvested against +17.5% for the S&P 500, so a holder was behind by 9.0 pts. It sits 12.7% below its all-time high of Mar 2, 2026.
Questions people ask
- Which is more different from the S&P 500, IDEF or PPA?
- IDEF has 36% of its weight in S&P 500 names and PPA has 72%, so PPA differs more from the index.
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, IDEF against PPA, data as of Sep 11, 2026. https://etfiq.com/compare/themes/idef-vs-ppa Free to use with attribution; the underlying files are at Open data.