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MADEvsPPAETF Comparison

ETF 1

MADE

iShares U.S. Manufacturing ETF

This fund is part of

US Large Cap

+0%

Full MADE fund page

VS

ETF 2

PPA

Invesco Aerospace & Defense ETF

Full PPA fund page

iShares U.S. Manufacturing ETF (MADE) belongs to the US Large Cap segment. Invesco Aerospace & Defense ETF (PPA) is part of the segment. MADE's top 3 sector exposures are Industrials, Technology and Consumer Cyclicals. In contrast, PPA's top sector exposures are Industrials, Technology and Non-Energy Materials. MADE is less expensive with a Total Expense Ratio (TER) of 0.4%, versus 0.58% for PPA. MADE is up 16.13% year-to-date (YTD) with +$28M in YTD flows. PPA performs worse with 5.58% YTD performance, and +$710M in YTD flows. Run a side-by-side ETF comparison of MADE and PPA below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.

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MADE vs PPA performance and flow charts

Performance

Cumulative Flows

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Daily, global ETF data for advanced analysis or integration into apps (API), from our partner Trackinsight.

Data Services

Historic performance and flows

Data as of 09/04/2026

		1M	3M	YTD	1Y	3Y	5Y
Perf.	MADE PPA	-6.19%-10.03%	-5.87%-4.69%	+16.13%+5.58%	+27.76%+12.58%	n/a+97.16%	n/a+134.29%
Flows	MADE PPA	-+$72M	+$7M+$138M	+$28M+$710M	+$30M+$951M	-+$2.93B	-+$4.05B

Volatility and drawdown

		3M	1Y	3Y	5Y
Volatility	MADE PPA	+26.76%+23.43%	+23.34%+21.59%	n/a+18.74%	n/a+18.82%
Max drawdown	MADE PPA	-11.00%-11.60%	-12.88%-13.68%	n/a-15.16%	n/a-18.41%
Max drawdown duration	MADE PPA	74d19d	50d186d	n/a171d	n/a227d

Trading data

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	MADE	PPA
Last sale 9/4/2026 at 7:59 PM	$36.14	$164.89
Previous close 09/04/2026	$35.66	$165.18
Consolidated volume 09/04/2026
Average volume 30 days
Average discount or premium 30 days
Average Bid/Ask spread 30 days

Replication quality

Data as of August 31, 2026

1-year trailing difference

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	MADE	PPA
Tracking error
Tracking difference
1 year cumulative return difference
Best
Worst
Daily return difference
Average
Worst

Main metrics

Last update 9/4/2026 at 7:59 PM

Live

Closed

	MADE	PPA
Last price	$36.14	$164.89
1D performance	+1.33%	-0.18%
AuM	$60.70 M	$7.89 B
E/R	0.4%	0.58%

Characteristics

	MADE	PPA
Management strategy	Passive	Passive
Provider	iShares	Invesco
Benchmark	S&P U.S. Manufacturing Select Index	SPADE Defense Index
N° of holdings	114	61
Asset class	-	Equities
Trailing 12m distribution yield	Join	Join
Inception date	July 18, 2024	October 26, 2005
ESG	No	No

More MADE data on Trackinsight

More PPA data on Trackinsight

Exposure

Countries

MADE

USA

85.48%

Ireland

12.55%

Other

1.97%

PPA

USA

93.9%

Other

6.1%

Sectors

MADE

Industrials

79.11%

Technology

12.83%

Consumer Cyclical.

7.89%

Other

0.17%

PPA

Industrials

88.19%

Other

11.81%

Diversification

MADE

Total weight of top 15 holdings out of 15

51.69%

PPA

Total weight of top 15 holdings out of 15

69.6%

Top 15 holdings

Data as of July 31, 2026

MADE

Amphenol Corp.

4.24%

Deere & Co.

4.24%

Eaton Corp. Plc

4.08%

RTX Corp.

4.04%

Cummins, Inc.

3.98%

Caterpillar, Inc.

3.74%

General Motors Co.

3.72%

Parker-Hannifin Corp.

3.71%

PACCAR, Inc.

3.29%

Trane Technologies Plc

2.97%

Vertiv Holdings Co.

2.90%

TE Connectivity Plc

2.82%

Ford Motor Co.

2.72%

Johnson Controls International Plc

2.68%

AMETEK, Inc.

2.57%

PPA

RTX Corp.

8.49%

GE Aerospace

7.08%

The Boeing Co.

6.95%

Lockheed Martin Corp.

6.63%

General Dynamics Corp.

5.04%

Northrop Grumman Corp.

4.79%

Howmet Aerospace, Inc.

4.42%

L3Harris Technologies, Inc.

4.20%

Honeywell Aerospace, Inc.

4.15%

Parker-Hannifin Corp.

3.67%

Elbit Systems Ltd.

3.39%

Axon Enterprise, Inc.

3.29%

TransDigm Group, Inc.

3.18%

Amphenol Corp.

2.41%

Eaton Corp. Plc

1.91%

Frequently asked questions about MADE and PPA

MADEvsPPAETF Comparison

iShares U.S. Manufacturing ETF

Invesco Aerospace & Defense ETF

MADE vs PPA performance and flow charts

Performance

Cumulative Flows

Get all the metrics on this page, and more, through a reliable ETF data feed

Countries

Sectors

Diversification

Top 15 holdings

How have the MADE and PPA ETFs performed in 2026?

As of September 4, 2026, MADE is up 16.13% year-to-date (YTD), while PPA has returned 5.58%. That puts MADE better performer ahead so far this year.

Which ETF is attracting more investor money: MADE or PPA?

Year-to-date, the MADE ETF saw +$28M in flows, compared to +$710M for PPA.

Which ETF is more volatile: MADE or PPA?

Over the past year, MADE had a volatility of 23.34%, while PPA experienced 21.59%.

Which ETF is bigger: MADE or PPA?

As of September 4, 2026, MADE holds $60.70 M in assets under management (AUM), while PPA manages $7.89 B.

What sectors do the MADE and PPA ETFs invest in?

MADE leans toward sectors like Industrials, Technology and Consumer Cyclicals. Meanwhile, PPA focuses on Industrials.

What are the top holdings of the MADE ETF and PPA ETF?

MADE top holdings include Amphenol Corp., Deere & Co. and Eaton Corp. Plc. PPA holds in its top three: RTX Corp., GE Aerospace and The Boeing Co..

Which ETF is more diversified: MADE or PPA?

MADE holds 114 securities with 51.69% of its assets in the top 15. PPA has 61 securities and a top 15 weight of 69.6%.

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