Data as of .
IGV vs PPA: which is really different?
IGV holds 82.2% of its weight in S&P 500 companies and PPA 71.8%.
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, IGV and PPA hold 0% of their money in the same securities at the same weight.
| Only in IGV | Only in PPA |
|---|---|
| PALANTIR TECHNOLOGIES CLASS A 9.96% | RTX Corp 8.29% |
| MICROSOFT 9.69% | Boeing Co/The 7.05% |
| PALO ALTO NETWORKS 9.36% | General Electric Co 6.94% |
| CROWDSTRIKE HOLDINGS CLASS A 7.25% | Lockheed Martin Corp 6.59% |
| SALESFORCE 6.78% | General Dynamics Corp 4.97% |
| ORACLE 5.94% | Northrop Grumman Corp 4.95% |
| SERVICENOW 4.65% | Howmet Aerospace Inc 3.92% |
| ADOBE INC 3.46% | 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 | |||
|---|---|---|---|---|---|---|
| IGV | PPA | IGV | PPA | IGV | PPA | |
| 3 months | +11.9% | −7.0% | +8.7 pts | −10.3 pts | +12.7 pts | −6.2 pts |
| 6 months | +20.6% | −6.5% | +4.6 pts | −22.5 pts | −0.1 pts | −27.2 pts |
| 1 year | −9.7% | +8.5% | −27.2 pts | −9.0 pts | −32.6 pts | −14.4 pts |
| 3 years | +42.5% | +100.5% | −35.3 pts | +22.6 pts | −52.5 pts | +5.4 pts |
| Since launch | +998.5% | +998.8% | +194.1 pts | +194.5 pts | −675.4 pts | −675.1 pts |
| IGV iShares Expanded Tech-Software Sector ETF Holds 108 stocks in cloud and software, 82% 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 | Cloud and software | Defense |
| In the S&P 500 | 82.2% | 71.8% |
| Active share vs the S&P 500 | 92.4% | 96.4% |
| In the Nasdaq-100 | 64.1% | 4.9% |
| Holdings | 108 | 62 |
| Top ten, share of the fund | 63.4% | 53.7% |
| Expense ratio | 0.38% | 0.58% |
| Fee for the differing part | 0.41% | 0.60% |
| Total return, 1 year | −9.7% | +8.5% |
| vs the S&P 500 | −27.2 pts | −9.0 pts |
| vs the Nasdaq-100 | −32.6 pts | −14.4 pts |
| Below its high | −13.8% | −12.7% |
IGV in plain words
By weight, 82% of IGV's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 92%. The top ten holdings are 63% of the fund across 108 positions, as published by its issuer for Sep 10, 2026. Over the year to Sep 11, 2026 the fund returned −9.7% with distributions reinvested against +17.5% for the S&P 500, so a holder was behind by 27.2 pts. It sits 13.8% below its all-time high of Sep 22, 2025.
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, IGV or PPA?
- IGV has 82% of its weight in S&P 500 names and PPA has 72%, so PPA differs more from the index.
- Which is cheaper, IGV or PPA?
- IGV charges 0.38% a year and PPA charges 0.58%, so IGV 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, IGV against PPA, data as of Sep 11, 2026. https://etfiq.com/compare/themes/igv-vs-ppa Free to use with attribution; the underlying files are at Open data.