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MISLvsPPAETF Comparison
Invesco Aerospace & Defense ETF
First Trust Indxx Aerospace & Defense ETF (MISL) belongs to the US Large Cap segment. Invesco Aerospace & Defense ETF (PPA) is part of the segment. MISL's top 3 sector exposures are Industrials, Communication Services and Information Technology. In contrast, PPA's top sector exposures are Industrials, Information Technology and Materials. MISL is more expensive with a Total Expense Ratio (TER) of 0.6%, versus 0.58% for PPA. MISL is up 13.74% year-to-date (YTD) with +$75M in YTD flows. PPA performs worse with 13.6% YTD performance, and +$564M in YTD flows. Run a side-by-side ETF comparison of MISL 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.
MISL vs PPA performance and flow charts
Performance
Cumulative Flows
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | MISL PPA | +0.19%+2.73% | +17.53%+15.03% | +13.74%+13.60% | +64.00%+56.68% | +124.44%+130.58% | n/a+158.64% |
| Flows | MISL PPA | +$78M+$328M | +$1.12B+$638M | +$75M+$564M | +$1.17B+$1.23B | +$1.26B+$2.83B | -+$3.87B |
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | MISL PPA | +26.68%+21.84% | +22.80%+21.15% | +18.37%+17.07% | n/a+17.95% |
| Max drawdown | MISL PPA | -7.46%-6.13% | -11.76%-13.09% | -17.72%-15.16% | n/a-18.41% |
| Max drawdown duration | MISL PPA | 50d30d | 30d34d | 184d171d | n/a227d |
MISL | PPA | |
Last sale 3/11/2026 at 1:30 PM | $48.46 | $177.99 |
| Previous close 03/11/2026 | $48.61 | $178.70 |
| Consolidated volume 03/11/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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MISL | PPA | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
MISL | PPA | |
|---|---|---|
| Last price | $48.46 | $177.99 |
| 1D performance | -0.31% | -0.40% |
| AuM | $1.55 B | $8.35 B |
| E/R | 0.6% | 0.58% |
MISL | PPA | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | First Trust | Invesco |
| Benchmark | Indxx US Aerospace and Defense Index | SPADE Defense Index |
| N° of holdings | 31 | 51 |
| Asset class | Equities | Equities |
| Trailing 12m distribution yield | Join | Join |
| Inception date | October 26, 2022 | October 26, 2005 |
| ESG | No | No |
Countries
Sectors
Diversification
Total weight of top 15 holdings out of 15
Total weight of top 15 holdings out of 15
Top 15 holdings
How have the MISL and PPA ETFs performed in 2026?
As of March 10, 2026, MISL is up 13.74% year-to-date (YTD), while PPA has returned 13.6%. That puts MISL better performer ahead so far this year.
Which ETF is attracting more investor money: MISL or PPA?
Year-to-date, the MISL ETF saw +$75M in flows, compared to +$564M for PPA.
Which ETF is more volatile: MISL or PPA?
Over the past year, MISL had a volatility of 22.8%, while PPA experienced 21.15%.
Which ETF is bigger: MISL or PPA?
As of March 10, 2026, MISL holds $1.55 B in assets under management (AUM), while PPA manages $8.35 B.
What sectors do the MISL and PPA ETFs invest in?
MISL leans toward sectors like Industrials. Meanwhile, PPA focuses on Industrials.
What are the top holdings of the MISL ETF and PPA ETF?
MISL top holdings include LOCKHEED MARTIN, RAYTHEON TECHNOLOGIES CORPORD and BOEING U. PPA holds in its top three: BOEING U, RAYTHEON TECHNOLOGIES CORPORD and LOCKHEED MARTIN.
Which ETF is more diversified: MISL or PPA?
MISL holds 37 securities with 78% of its assets in the top 15. PPA has 60 securities and a top 15 weight of 71.65%.
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