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PPAvsGCADETF Comparison

ETF 1

PPA

Invesco Aerospace & Defense ETF

Full PPA fund page

VS

ETF 2

GCAD

Gabelli Commercial Aerospace & Defense ETF

Full GCAD fund page

Invesco Aerospace & Defense ETF (PPA) and Gabelli Commercial Aerospace & Defense ETF (GCAD) belong to the same industry segment: . PPA's top 3 sector exposures are Industrials, Information Technology and Materials. In contrast, GCAD's top sector exposures are Industrials, Materials and Communication Services. PPA is less expensive with a Total Expense Ratio (TER) of 0.58%, versus 0.9% for GCAD. PPA is up 9.66% year-to-date (YTD) with +$586M in YTD flows. GCAD performs better with 16.83% YTD performance, and +$16M in YTD flows. Run a side-by-side ETF comparison of PPA and GCAD 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 GCAD 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 06/09/2026

		1M	3M	YTD	1Y	3Y	5Y
Perf.	PPA GCAD	+1.34%+3.78%	-5.08%-0.09%	+9.66%+16.83%	+26.06%+35.27%	+112.78%+124.00%	+130.64%n/a
Flows	PPA GCAD	-$35M+$2M	+$112M+$6M	+$586M+$16M	+$1.17B+$20M	+$2.87B+$22M	+$3.90B-

Volatility and drawdown

		3M	1Y	3Y	5Y
Volatility	PPA GCAD	+23.84%+26.20%	+19.27%+19.43%	+17.80%+18.47%	+18.44%n/a
Max drawdown	PPA GCAD	-11.45%-11.59%	-13.68%-14.81%	-15.16%-16.22%	-18.41%n/a
Max drawdown duration	PPA GCAD	92d79d	99d99d	171d91d	227dn/a

Trading data

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	PPA	GCAD
Last sale 6/10/2026 at 1:30 PM	$167.62	$53.17
Previous close 06/09/2026	$171.75	$54.26
Consolidated volume 06/09/2026
Average volume 30 days
Average discount or premium 30 days
Average Bid/Ask spread 30 days

Replication quality

Data as of May 29, 2026

1-year trailing difference

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GCAD

is actively managed and doesn’t replicate an index

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

Main metrics

Last update 6/10/2026 at 1:30 PM

Live

Closed

	PPA	GCAD
Last price	$167.62	$53.17
1D performance	-2.40%	-2.01%
AuM	$8.08 B	$33.85 M
E/R	0.58%	0.9%

Characteristics

	PPA	GCAD
Management strategy	Passive	Active
Provider	Invesco	Gabelli Funds
Benchmark	SPADE Defense Index	-
N° of holdings	51	37
Asset class	Equities	-
Trailing 12m distribution yield	Join	Join
Inception date	October 26, 2005	January 3, 2023
ESG	No	No

More PPA data on Trackinsight

More GCAD data on Trackinsight

Exposure

Countries

PPA

USA

93.44%

Other

6.56%

GCAD

USA

86.29%

Other

13.71%

Sectors

PPA

Industrials

83.68%

Information Techn.

7.34%

Other

8.98%

GCAD

Industrials

85.8%

Other

14.2%

Diversification

PPA

Total weight of top 15 holdings out of 15

69.25%

GCAD

Total weight of top 15 holdings out of 15

63.34%

Top 15 holdings

Data as of April 30, 2026

PPA

BOEING U

9.30%

GENERAL ELECTRIC

7.78%

RAYTHEON TECHNOLOGIES CORPORD

7.10%

LOCKHEED MARTIN

6.40%

NORTHROP GRUMMAN

4.47%

HONEYWELL INTL

4.38%

HOWMET AEROSPACE INC

4.20%

GENERAL DYNAMICS

4.15%

PARKER HANNIFIN

4.05%

L3 HARRIS TECHNOLOGIES

3.80%

ELBIT SYSTEMS

3.53%

US7731211089

2.79%

TRANSDIGM GROUP

2.64%

AMPHENOL

2.38%

EATON CORP PLC

2.29%

GCAD

BOEING U

6.78%

ALBANY INTERNATIONAL

6.19%

MOOG

5.48%

HEXCEL

5.20%

LOCKHEED MARTIN

4.88%

NORTHROP GRUMMAN

4.84%

TEXTRON

4.55%

DUCOMMUN

4.47%

HONEYWELL INTL

3.91%

L3 HARRIS TECHNOLOGIES

3.34%

MERCURY SYSTEMS INC

3.00%

HOWMET AEROSPACE INC

2.85%

CURTISS WRIGHT

2.79%

GENERAL DYNAMICS

2.59%

ASTRONICS

2.47%

Frequently asked questions about PPA and GCAD

How have the PPA and GCAD ETFs performed in 2026?

As of June 9, 2026, PPA is up 9.66% year-to-date (YTD), while GCAD has returned 16.83%. That puts GCAD better performer ahead so far this year.

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

Year-to-date, the PPA ETF saw +$586M in flows, compared to +$16M for GCAD.

Which ETF is more volatile: PPA or GCAD?

Over the past year, PPA had a volatility of 19.27%, while GCAD experienced 19.43%.

Which ETF is bigger: PPA or GCAD?

As of June 9, 2026, PPA holds $8.08 B in assets under management (AUM), while GCAD manages $33.85 M.

What sectors do the PPA and GCAD ETFs invest in?

PPA leans toward sectors like Industrials and Information Technology. Meanwhile, GCAD focuses on Industrials.

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

PPA top holdings include BOEING U, GENERAL ELECTRIC and RAYTHEON TECHNOLOGIES CORPORD. GCAD holds in its top three: BOEING U, ALBANY INTERNATIONAL and MOOG.

PPAvsGCADETF Comparison

Invesco Aerospace & Defense ETF

Gabelli Commercial Aerospace & Defense ETF

PPA vs GCAD 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 PPA and GCAD ETFs performed in 2026?

As of June 9, 2026, PPA is up 9.66% year-to-date (YTD), while GCAD has returned 16.83%. That puts GCAD better performer ahead so far this year.

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

Year-to-date, the PPA ETF saw +$586M in flows, compared to +$16M for GCAD.

Which ETF is more volatile: PPA or GCAD?

Over the past year, PPA had a volatility of 19.27%, while GCAD experienced 19.43%.

Which ETF is bigger: PPA or GCAD?

As of June 9, 2026, PPA holds $8.08 B in assets under management (AUM), while GCAD manages $33.85 M.

What sectors do the PPA and GCAD ETFs invest in?

PPA leans toward sectors like Industrials and Information Technology. Meanwhile, GCAD focuses on Industrials.

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

PPA top holdings include BOEING U, GENERAL ELECTRIC and RAYTHEON TECHNOLOGIES CORPORD. GCAD holds in its top three: BOEING U, ALBANY INTERNATIONAL and MOOG.

Which ETF is more diversified: PPA or GCAD?

PPA holds 60 securities with 69.25% of its assets in the top 15. GCAD has 37 securities and a top 15 weight of 63.34%.

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