MISLvsPPAETF Comparison
ETF 1
MISL
First Trust Indxx Aerospace & Defense ETF
VS
ETF 2
PPA
Invesco Aerospace & Defense ETF
First Trust Indxx Aerospace & Defense ETF (MISL) and Invesco Aerospace & Defense ETF (PPA) belong to the same industry segment: . MISL's top 3 sector exposures are Industrials, Business Services and Telecommunications. In contrast, PPA's top sector exposures are Industrials, Technology and Business Services. MISL is more expensive with a Total Expense Ratio (TER) of 0.6%, versus 0.58% for PPA. MISL is down -3.08% year-to-date (YTD) with -$622M in YTD flows. PPA performs better with 0.54% YTD performance, and +$648M 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.
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MISL vs PPA performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/27/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | MISL PPA | -1.08%+0.40% | -6.32%-11.23% | -3.08%+0.54% | -5.32%-1.33% | +90.29%+100.64% | n/a+121.96% |
| Flows | MISL PPA | -$10M-$746M | -$30M+$20M | -$622M+$648M | +$429M+$695M | +$532M+$2.67B | -+$3.99B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | MISL PPA | +22.16%+18.69% | +25.35%+21.39% | +20.72%+18.71% | n/a+18.85% |
| Max drawdown | MISL PPA | -15.12%-17.14% | -19.82%-17.34% | -19.82%-17.34% | n/a-18.41% |
| Max drawdown duration | MISL PPA | 72d72d | 281d239d | 281d239d | n/a227d |
Trading data
MISL | PPA | |
Last sale 10/28/2026 at 1:30 PM | $41.56 | $158.07 |
| Previous close 10/27/2026 | $41.44 | $156.87 |
| Consolidated volume 10/27/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of September 30, 2026
1-year trailing difference
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MISL | PPA | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 10/28/2026 at 1:30 PM
Live
Closed
MISL | PPA | |
|---|---|---|
| Last price | $41.56 | $158.07 |
| 1D performance | +0.29% | +0.76% |
| AuM | $673.16 M | $7.41 B |
| E/R | 0.6% | 0.58% |
Characteristics
MISL | PPA | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | First Trust | Invesco |
| Benchmark | Indxx US Aerospace and Defense Index | SPADE Defense Index |
| N° of holdings | 38 | 61 |
| Asset class | Equities | Equities |
| Trailing 12m distribution yield | Join | Join |
| Inception date | October 26, 2022 | October 26, 2005 |
| ESG | No | No |
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Exposure
Countries
MISL
USA
99.56%
Other
0.44%
PPA
USA
93.91%
Other
6.09%
Sectors
MISL
Industrials
75.5%
Business Services
13.13%
Telecommunication.
10.38%
Other
0.99%
PPA
Industrials
86.69%
Other
13.31%
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Diversification
MISL
Total weight of top 15 holdings out of 15
78.47%
PPA
Total weight of top 15 holdings out of 15
68.17%
Top 15 holdings
Data as of August 31, 2026
MISL
Palantir Technologies, Inc.
11.60%
RTX Corp.
8.56%
Space Exploration Technologies Corp.
8.00%
The Boeing Co.
7.57%
GE Aerospace
7.53%
Lockheed Martin Corp.
4.25%
Northrop Grumman Corp.
4.04%
General Dynamics Corp.
4.03%
Howmet Aerospace, Inc.
3.85%
HEICO Corp.
3.79%
L3Harris Technologies, Inc.
3.71%
TransDigm Group, Inc.
3.66%
Rocket Lab Corp.
3.15%
AST SpaceMobile, Inc.
2.38%
Curtiss-Wright Corp.
2.35%
PPA
RTX Corp.
8.32%
GE Aerospace
6.88%
The Boeing Co.
6.78%
Lockheed Martin Corp.
6.56%
General Dynamics Corp.
5.00%
Northrop Grumman Corp.
4.86%
Howmet Aerospace, Inc.
4.31%
Parker-Hannifin Corp.
3.89%
Axon Enterprise, Inc.
3.77%
L3Harris Technologies, Inc.
3.68%
Honeywell Aerospace, Inc.
3.24%
Elbit Systems Ltd.
3.16%
TransDigm Group, Inc.
2.97%
Amphenol Corp.
2.57%
Eaton Corp. Plc
2.19%
Frequently asked questions about MISL and PPA
How have the MISL and PPA ETFs performed in 2026?
As of October 27, 2026, MISL is down -3.08% year-to-date (YTD), while PPA has returned 0.54%. That puts PPA better performer ahead so far this year.
Which ETF is attracting more investor money: MISL or PPA?
Year-to-date, the MISL ETF saw -$622M in flows, compared to +$648M for PPA.
Which ETF is more volatile: MISL or PPA?
Over the past year, MISL had a volatility of 25.35%, while PPA experienced 21.39%.
Which ETF is bigger: MISL or PPA?
As of October 27, 2026, MISL holds $673.16 M in assets under management (AUM), while PPA manages $7.41 B.
What sectors do the MISL and PPA ETFs invest in?
MISL leans toward sectors like Industrials, Business Services and Telecommunications. Meanwhile, PPA focuses on Industrials.
What are the top holdings of the MISL ETF and PPA ETF?
MISL top holdings include Palantir Technologies, Inc., RTX Corp. and Space Exploration Technologies Corp.. PPA holds in its top three: RTX Corp., GE Aerospace and The Boeing Co..
Which ETF is more diversified: MISL or PPA?
MISL holds 38 securities with 78.47% of its assets in the top 15. PPA has 61 securities and a top 15 weight of 68.17%.
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Latest news about MISL & PPA
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PPA
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