# PPA (Invesco Aerospace & Defense ETF)

Invesco · Thematic ETFs · data as of Sep 11, 2026

PPA holds 62 stocks, and 28% of its weight is outside the S&P 500.

## Key facts

- PPA, already in the S&P 500: 71.8%, as of Sep 11, 2026.
- PPA, active share vs the S&P 500: 96.4%, as of Sep 11, 2026.
- PPA, top ten holdings: 53.7%, as of Sep 11, 2026.
- PPA, total return, 1 year: +8.5%, as of Sep 11, 2026.
- PPA, net assets: $7.7bn (the issuer daily holdings, added up, as of Sep 10, 2026).
- PPA, expense ratio: 0.58% (485BPOS XBRL, Aug 27, 2026).

## PPA over each window to Sep 11, 2026

| Window | Total return | S&P 500 | Gap to S&P 500 | Gap to Nasdaq-100 |
| --- | --- | --- | --- | --- |
| 3 months | −7.0% | +3.3% | −10.3 pts | −6.2 pts |
| 6 months | −6.5% | +16.0% | −22.5 pts | −27.2 pts |
| 1 year | +8.5% | +17.5% | −9.0 pts | −14.4 pts |
| 3 years | +100.5% | +77.9% | +22.6 pts | +5.4 pts |
| Since launch | +998.8% | +804.4% | +194.5 pts | −675.1 pts |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Theme | Defense | ETFIQ, editorial |
| Launched | Jan 4, 2010 | ETFIQ |
| Already in the S&P 500, by weight | 71.8% | ETFIQ |
| Active share vs the S&P 500 | 96.4% | ETFIQ |
| Already in the Nasdaq-100, by weight | 4.9% | ETFIQ |
| Active share vs the Nasdaq-100 | 98.3% | ETFIQ |
| Top ten holdings weight | 53.7% | ETFIQ |
| Holdings | 62 | ETFIQ |
| Holdings as of | Sep 10, 2026 | the issuer’s daily file |
| Top holdings | RTX Corp 8.3%, Boeing Co/The 7.0%, General Electric Co 6.9%, Lockheed Martin Corp 6.6%, General Dynamics Corp 5.0%, Northrop Grumman Corp 5.0%, Howmet Aerospace Inc 3.9%, Parker-Hannifin Corp 3.8%, L3Harris Technologies Inc 3.7%, Elbit Systems Ltd 3.4% | ETFIQ |
| Net assets | $7.7bn | the issuer daily holdings, added up, as of Sep 10, 2026 |
| Below its all-time high | −12.7% | ETFIQ |
| Expense ratio | 0.58% | 485BPOS XBRL, Aug 27, 2026 |
| Fee for the part that differs from the S&P 500, active expense ratio | 0.60% | ETFIQ |
| Closest funds by holdings overlap | ITA 66%, MISL 64%, NATO 58%, XAR 49%, WDGF 49% | ETFIQ |

## Questions

### How much of PPA is in S&P 500 companies?

By its holdings published by its issuer for Sep 10, 2026, 72% of PPA by weight is stocks the S&P 500 already holds. Its active share against the index is 96%, so that share is the part doing something different.

### What does PPA hold?

62 positions as published by its issuer for Sep 10, 2026, with the top ten at 54% of the fund. The largest are RTX Corp at 8.3%, Boeing Co/The at 7.0%, General Electric Co at 6.9%.

### Has PPA beaten the S&P 500?

Over the year to Sep 11, 2026 PPA returned +8.5% with distributions reinvested, against +17.5% for the S&P 500, so it finished behind the index by 9.0 points.

### What does PPA cost?

The prospectus expense ratio is 0.58% a year. Because 96% of the fund differs from the S&P 500, the fee on that differing part works out at 0.60%.


## Cite this page

ETFIQ, PPA, data as of Sep 11, 2026. https://etfiq.com/funds/ppa
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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