PPAvsDUTYETF Comparison
ETF 1
PPA
Invesco Aerospace & Defense ETF
VS
ETF 2
DUTY
U.S. Defense ETF
Invesco Aerospace & Defense ETF (PPA) and U.S. Defense ETF (DUTY) belong to the same industry segment: . PPA's top 3 sector exposures are Industrials, Technology and Non-Energy Materials. In contrast, DUTY's top sector exposures are Industrials, Technology and Business Services. PPA is more expensive with a Total Expense Ratio (TER) of 0.58%, versus 0.45% for DUTY. Run a side-by-side ETF comparison of PPA and DUTY 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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PPA vs DUTY performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 07/24/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | PPA DUTY | +2.43%+5.80% | +5.63%+9.06% | +12.00%n/a | +20.21%n/a | +109.93%n/a | +142.29%n/a |
| Flows | PPA DUTY | +$13M+$804K | -$91M+$2M | +$629M- | +$1.02B- | +$2.88B- | +$3.96B- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | PPA DUTY | +23.53%+25.57% | +20.51%n/a | +18.32%n/a | +18.61%n/a |
| Max drawdown | PPA DUTY | -8.09%-13.20% | -13.68%n/a | -15.16%n/a | -18.41%n/a |
| Max drawdown duration | PPA DUTY | 18d53d | 144dn/a | 171dn/a | 227dn/a |
Trading data
PPA | DUTY | |
Last sale 7/24/2026 at 1:30 PM | $175.26 | $25.57 |
| Previous close 07/23/2026 | $174.26 | $25.48 |
| Consolidated volume 07/23/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of June 30, 2026
1-year trailing difference
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PPA | DUTY | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 7/24/2026 at 1:30 PM
Live
Closed
PPA | DUTY | |
|---|---|---|
| Last price | $175.26 | $25.57 |
| 1D performance | +0.57% | +0.35% |
| AuM | $8.29 B | $2.81 M |
| E/R | 0.58% | 0.45% |
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Exposure
Countries
PPA
USA
89.53%
Other
10.47%
DUTY
USA
95.82%
Other
4.18%
Sectors
PPA
Industrials
83.1%
Other
16.9%
DUTY
Industrials
57.01%
Technology
33.92%
Business Services
8.4%
Other
0.67%
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Diversification
PPA
Total weight of top 15 holdings out of 15
67.56%
DUTY
Total weight of top 15 holdings out of 15
74.86%
Top 15 holdings
Data as of June 30, 2026
PPA
GE Aerospace
9.76%
The Boeing Co.
8.44%
RTX Corp.
7.44%
Lockheed Martin Corp.
6.11%
Howmet Aerospace, Inc.
4.51%
General Dynamics Corp.
4.45%
Parker-Hannifin Corp.
3.89%
Northrop Grumman Corp.
3.76%
L3Harris Technologies, Inc.
3.34%
Elbit Systems Ltd.
2.98%
TransDigm Group, Inc.
2.92%
Rocket Lab Corp.
2.77%
Amphenol Corp.
2.54%
US4385162056
2.42%
US43849R1059
2.22%
DUTY
General Dynamics Corp.
7.76%
Lockheed Martin Corp.
7.65%
L3Harris Technologies, Inc.
7.18%
Northrop Grumman Corp.
6.80%
Palantir Technologies, Inc.
6.06%
Fortinet, Inc.
5.07%
Palo Alto Networks, Inc.
4.87%
Rocket Lab Corp.
4.66%
CrowdStrike Holdings, Inc.
4.47%
Okta, Inc.
4.41%
Teledyne Technologies, Inc.
4.26%
Akamai Technologies, Inc.
3.16%
Check Point Software Technologies Ltd.
3.00%
Leidos Holdings, Inc.
2.84%
Moog, Inc.
2.67%
Frequently asked questions about PPA and DUTY
Which ETF is bigger: PPA or DUTY?
As of July 24, 2026, PPA holds $8.29 B in assets under management (AUM), while DUTY manages $2.81 M.
What sectors do the PPA and DUTY ETFs invest in?
PPA leans toward sectors like Industrials. Meanwhile, DUTY focuses on Industrials, Technology and Business Services.
What are the top holdings of the PPA ETF and DUTY ETF?
PPA top holdings include GE Aerospace, The Boeing Co. and RTX Corp.. DUTY holds in its top three: General Dynamics Corp., Lockheed Martin Corp. and L3Harris Technologies, Inc..
Which ETF is more diversified: PPA or DUTY?
PPA holds 61 securities with 67.56% of its assets in the top 15. DUTY has 48 securities and a top 15 weight of 74.86%.
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Latest news about PPA & DUTY
ETF Model Portfolios: The Geopolitical Risk Thematic Hedge
July 2, 2026
PPA
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