PPAvsGCADETF Comparison
ETF 1
PPA
Invesco Aerospace & Defense ETF
VS
ETF 2
GCAD
Gabelli Commercial Aerospace & Defense ETF
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, Technology and Non-Energy Materials. In contrast, GCAD's top sector exposures are Industrials, Non-Energy Materials and Telecommunications. PPA is less expensive with a Total Expense Ratio (TER) of 0.58%, versus 0.9% for GCAD. PPA is up 12% year-to-date (YTD) with +$629M in YTD flows. GCAD performs better with 20.59% YTD performance, and +$26M 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
Historic performance and flows
Data as of 07/24/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | PPA GCAD | +2.43%+2.83% | +5.63%+11.06% | +12.00%+20.59% | +20.21%+32.54% | +109.93%+123.55% | +142.29%n/a |
| Flows | PPA GCAD | +$13M+$1M | -$91M+$14M | +$629M+$26M | +$1.02B+$29M | +$2.88B+$32M | +$3.96B- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | PPA GCAD | +23.53%+24.78% | +20.51%+20.68% | +18.32%+18.97% | +18.61%n/a |
| Max drawdown | PPA GCAD | -8.09%-6.68% | -13.68%-14.81% | -15.16%-16.22% | -18.41%n/a |
| Max drawdown duration | PPA GCAD | 18d18d | 144d121d | 171d91d | 227dn/a |
Trading data
PPA | GCAD | |
Last sale 7/24/2026 at 1:30 PM | $175.26 | $56.28 |
| Previous close 07/23/2026 | $174.26 | $55.56 |
| 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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GCAD
is actively managed and doesn’t replicate an indexPPA | GCAD | |
|---|---|---|
| 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 | GCAD | |
|---|---|---|
| Last price | $175.26 | $56.28 |
| 1D performance | +0.57% | +1.30% |
| AuM | $8.29 B | $44.72 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 | 60 | 48 |
| Asset class | Equities | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | October 26, 2005 | January 3, 2023 |
| ESG | No | No |
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Exposure
Countries
PPA
USA
89.53%
Other
10.47%
GCAD
USA
86.94%
Other
13.06%
Sectors
PPA
Industrials
83.1%
Other
16.9%
GCAD
Industrials
79.4%
Non-Energy Materi.
10.44%
Other
10.15%
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Diversification
PPA
Total weight of top 15 holdings out of 15
67.56%
GCAD
Total weight of top 15 holdings out of 15
62.26%
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%
GCAD
Albany International Corp.
6.82%
Moog, Inc.
6.15%
The Boeing Co.
5.24%
Ducommun, Inc.
4.86%
Hexcel Corp.
4.48%
RTX Corp.
4.18%
Lockheed Martin Corp.
4.07%
L3Harris Technologies, Inc.
4.03%
Mercury Systems, Inc.
3.95%
Textron, Inc.
3.88%
Northrop Grumman Corp.
3.55%
Crane Co.
3.01%
US912797UF28
3.01%
Howmet Aerospace, Inc.
2.59%
Curtiss-Wright Corp.
2.44%
Frequently asked questions about PPA and GCAD
How have the PPA and GCAD ETFs performed in 2026?
As of July 24, 2026, PPA is up 12% year-to-date (YTD), while GCAD has returned 20.59%. 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 +$629M in flows, compared to +$26M for GCAD.
Which ETF is more volatile: PPA or GCAD?
Over the past year, PPA had a volatility of 20.51%, while GCAD experienced 20.68%.
Which ETF is bigger: PPA or GCAD?
As of July 24, 2026, PPA holds $8.29 B in assets under management (AUM), while GCAD manages $44.72 M.
What sectors do the PPA and GCAD ETFs invest in?
PPA leans toward sectors like Industrials. Meanwhile, GCAD focuses on Industrials and Non-Energy Materials.
What are the top holdings of the PPA ETF and GCAD ETF?
PPA top holdings include GE Aerospace, The Boeing Co. and RTX Corp.. GCAD holds in its top three: Albany International Corp., Moog, Inc. and The Boeing Co..
Which ETF is more diversified: PPA or GCAD?
PPA holds 61 securities with 67.56% of its assets in the top 15. GCAD has 54 securities and a top 15 weight of 62.26%.
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Latest news about PPA & GCAD
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PPA
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