Data as of .
PPA vs XT: which is really different?
PPA holds 71.8% of its weight in S&P 500 companies and XT 64.0%.
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, PPA and XT hold 0% of their money in the same securities at the same weight.
| Only in PPA | Only in XT |
|---|---|
| RTX Corp 8.29% | MICROSOFT 4.21% |
| Boeing Co/The 7.05% | NVIDIA 4.18% |
| General Electric Co 6.94% | ELI LILLY 3.90% |
| Lockheed Martin Corp 6.59% | TESLA INC 3.55% |
| General Dynamics Corp 4.97% | TEXAS INSTRUMENT INC 3.55% |
| Northrop Grumman Corp 4.95% | JOHNSON & JOHNSON 3.48% |
| Howmet Aerospace Inc 3.92% | ANALOG DEVICES 2.88% |
| Parker-Hannifin Corp 3.84% | AMAZON.COM INC 2.87% |
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 | |||
|---|---|---|---|---|---|---|
| PPA | XT | PPA | XT | PPA | XT | |
| 3 months | −7.0% | +0.7% | −10.3 pts | −2.6 pts | −6.2 pts | +1.5 pts |
| 6 months | −6.5% | +18.0% | −22.5 pts | +2.0 pts | −27.2 pts | −2.7 pts |
| 1 year | +8.5% | +25.7% | −9.0 pts | +8.2 pts | −14.4 pts | +2.8 pts |
| 3 years | +100.5% | +63.3% | +22.6 pts | −14.6 pts | +5.4 pts | −31.8 pts |
| Since launch | +998.8% | +279.7% | +194.5 pts | −61.9 pts | −675.1 pts | −340.9 pts |
| PPA Invesco Aerospace & Defense ETF Holds 62 stocks in defense, 72% of its weight in S&P 500 companies | XT iShares Future Exponential Technologies ETF Holds 192 stocks in broad innovation and megatrends, 64% of its weight in S&P 500 companies | |
|---|---|---|
| Issuer | Invesco | iShares |
| Theme | Defense | Broad innovation and megatrends |
| In the S&P 500 | 71.8% | 64.0% |
| Active share vs the S&P 500 | 96.4% | 67.4% |
| In the Nasdaq-100 | 4.9% | 38.8% |
| Holdings | 62 | 192 |
| Top ten, share of the fund | 53.7% | 33.8% |
| Expense ratio | 0.58% | 0.46% |
| Fee for the differing part | 0.60% | 0.68% |
| Total return, 1 year | +8.5% | +25.7% |
| vs the S&P 500 | −9.0 pts | +8.2 pts |
| vs the Nasdaq-100 | −14.4 pts | +2.8 pts |
| Below its high | −12.7% | −3.2% |
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.
XT in plain words
By weight, 64% of XT's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 67%. The top ten holdings are 34% of the fund across 192 positions, as published by its issuer for Sep 10, 2026. Over the year to Sep 11, 2026 the fund returned +25.7% with distributions reinvested against +17.5% for the S&P 500, so a holder was ahead by 8.2 pts.
Questions people ask
- Which is more different from the S&P 500, PPA or XT?
- PPA has 72% of its weight in S&P 500 names and XT has 64%, so PPA differs more from the index.
- Which is cheaper, PPA or XT?
- PPA charges 0.58% a year and XT charges 0.46%, so XT 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, PPA against XT, data as of Sep 11, 2026. https://etfiq.com/compare/themes/ppa-vs-xt Free to use with attribution; the underlying files are at Open data.