{"schemaVersion":1,"ticker":"PPA","asOf":"2026-10-26","desk":"themes","cite":{"publisher":"ETFIQ","page":"https://etfiq.com/funds/ppa/","methodology":"https://etfiq.com/methodology/","as_of":"2026-10-26","credit":"Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records; risk-free rate: U.S. Treasury, Daily Treasury Bill Rates, 13-week coupon equivalent","class":"mixed","license":"https://etfiq.com/license/","license_text":"Only the numbers in etfiq_fields are ETFIQ's, free to use with attribution: ETFIQ (etfiq.com). Every other number stays under its owner's terms: issuer_fields as the issuer published them, vendor_fields from an end-of-day data vendor.","fields_note":"Not yet classed field by field: only data ETFIQ computes is covered by its licence.","cite_as":"ETFIQ, Risk and return scorecard, PPA against its benchmark, data as of 2026-10-26, https://etfiq.com/funds/ppa/"},"benchmark":{"ticker":"IVV","name":"S&P 500 Index","tier":1,"kind":"index","basisOnPage":"total","basisHere":"total"},"kind":"benchmark","a":"PPA","b":"IVV","window":{"from":"2005-11-04","to":"2026-10-23","firstReturn":"2005-11-11","weeklyReturns":1094,"years":20.97,"short":false,"weekEnding":"2026-10-25"},"riskFree":{"rate":0.01777962,"perWeek":0.0003419157,"days":5245,"series":"13-week Treasury bill, coupon equivalent, average of daily yields","source":"U.S. Department of the Treasury, Daily Treasury Bill Rates","url":"https://home.treasury.gov/resource-center/data-chart-center/interest-rates/TextView?type=daily_treasury_bill_rates"},"measures":{"total":{"a":11.48650083,"b":8.20390485,"edge":"PPA","lead":"PPA"},"annualised":{"a":0.12749861,"b":0.11126981,"edge":"PPA","lead":"PPA"},"price":{"a":9.2345515,"b":5.24590835,"edge":"PPA","lead":"PPA"},"volatility":{"a":0.20964235,"b":0.1750246,"edge":"IVV","lead":"IVV"},"downsideDeviation":{"a":0.1455308,"b":0.12329943,"edge":"IVV","lead":"IVV"},"maxDrawdown":{"a":-0.56737369,"b":-0.54729949,"edge":"IVV (slight)","lead":"IVV","aPeak":"2007-10-12","aTrough":"2009-03-06","bPeak":"2007-10-12","bTrough":"2009-03-06"},"excess":{"a":0.12448326,"b":0.10327556,"edge":"PPA","lead":"PPA"},"sharpe":{"a":0.59378868,"b":0.59006313,"edge":"Tie"},"sortino":{"a":0.85537398,"b":0.83759971,"edge":"PPA (slight)","lead":"PPA"},"calmar":{"a":0.22471716,"b":0.20330699,"edge":"PPA (slight)","lead":"PPA"}},"relative":{"PPA":{"on":"IVV","beta":1.03085711,"r2":0.74069103,"alpha":0.01802091,"alphaT":0.77134142,"alphaLow":-0.02782069,"alphaHigh":0.0638625,"upsideCapture":1.0241255,"downsideCapture":0.98737435,"treynor":0.12075704,"trackingError":0.10689142,"informationRatio":0.19840407,"upWeeks":634,"downWeeks":459,"treynorReference":0.10327556,"edges":{"beta":{"edge":"Higher beta","neutral":true},"r2":{"edge":null,"neutral":true},"alpha":{"edge":"Not significant"},"alphaRange":{"edge":"Includes zero"},"upsideCapture":{"edge":"PPA (slight)","lead":"PPA"},"downsideCapture":{"edge":"Tie"},"treynor":{"edge":"PPA","lead":"PPA"},"informationRatio":{"edge":null,"lead":"PPA","note":"one number for the pair: its sign says which side it favours"},"trackingError":{"edge":null,"neutral":true}}}},"sources":{"PPA":{"kept":"2026-10-26","distributions":75,"addedFromRecord":[],"notInVendorSeries":[],"vendorAmountDiffers":[],"vendorStepsWithoutDistribution":[],"issuerCloses":{"compared":6,"agree":6},"vendor":{"weeks":1094,"beyond":0,"tolerance":0.0005,"worst":0.0,"vendorTotal":11.48650083}},"IVV":{"kept":"2026-10-26","distributions":86,"addedFromRecord":[],"notInVendorSeries":[],"vendorAmountDiffers":[],"vendorStepsWithoutDistribution":[],"vendor":{"weeks":1094,"beyond":0,"tolerance":0.0005,"worst":0.0,"vendorTotal":8.20390485}}}}