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PPAvsITAETF Comparison

ETF 1

PPA

Invesco Aerospace & Defense ETF

Full PPA fund page

VS

ETF 2

ITA

iShares U.S. Aerospace & Defense ETF

Full ITA fund page

Invesco Aerospace & Defense ETF (PPA) and iShares U.S. Aerospace & Defense ETF (ITA) belong to the same industry segment: . PPA's top 3 sector exposures are Industrials, Information Technology and Materials. In contrast, ITA's top sector exposures are Industrials, Materials and Information Technology. PPA is more expensive with a Total Expense Ratio (TER) of 0.58%, versus 0.38% for ITA. PPA is up 7.44% year-to-date (YTD) with +$625M in YTD flows. ITA performs worse with 4.24% YTD performance, and +$416M in YTD flows. Run a side-by-side ETF comparison of PPA and ITA 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 ITA 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 05/20/2026

		1M	3M	YTD	1Y	3Y	5Y
Perf.	PPA ITA	-4.54%-3.54%	-6.88%-8.20%	+7.44%+4.24%	+27.67%+29.64%	+113.17%+102.47%	+133.52%+121.45%
Flows	PPA ITA	-$95M+$46M	+$351M-$841M	+$625M+$416M	+$1.25B+$4.02B	+$2.91B+$2.81B	+$3.93B+$5.42B

Volatility and drawdown

		3M	1Y	3Y	5Y
Volatility	PPA ITA	+23.37%+27.69%	+18.76%+20.89%	+17.66%+19.45%	+18.32%+20.11%
Max drawdown	PPA ITA	-13.68%-15.79%	-13.68%-15.79%	-15.16%-15.79%	-18.41%-18.75%
Max drawdown duration	PPA ITA	79d79d	79d79d	171d79d	227d227d

Trading data

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	PPA	ITA
Last sale 5/21/2026 at 5:19 PM	$167.45	$222.82
Previous close 05/20/2026	$168.19	$223.28
Consolidated volume 05/20/2026
Average volume 30 days
Average discount or premium 30 days
Average Bid/Ask spread 30 days

Replication quality

Data as of April 30, 2026

1-year trailing difference

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

Main metrics

Last update 5/21/2026 at 5:19 PM

Live

Closed

	PPA	ITA
Last price	$167.45	$222.82
1D performance	-0.44%	-0.21%
AuM	$7.95 B	$13.71 B
E/R	0.58%	0.38%

Characteristics

	PPA	ITA
Management strategy	Passive	Passive
Provider	Invesco	iShares
Benchmark	SPADE Defense Index	Dow Jones U.S. Select Aerospace & Defense Index
N° of holdings	51	36
Asset class	Equities	Equities
Trailing 12m distribution yield	Join	Join
Inception date	October 26, 2005	May 1, 2006
ESG	No	No

More PPA data on Trackinsight

More ITA data on Trackinsight

Exposure

Countries

PPA

USA

93.85%

Other

6.15%

ITA

USA

97.87%

Other

2.13%

Sectors

PPA

Industrials

87.55%

Other

12.45%

ITA

Industrials

90.12%

Other

9.88%

Diversification

PPA

Total weight of top 15 holdings out of 15

72.93%

ITA

Total weight of top 15 holdings out of 15

85.18%

Top 15 holdings

Data as of March 31, 2026

PPA

LOCKHEED MARTIN

9.36%

RAYTHEON TECHNOLOGIES CORPORD

8.76%

GENERAL ELECTRIC

7.70%

BOEING U

7.53%

NORTHROP GRUMMAN

6.36%

GENERAL DYNAMICS

5.21%

L3 HARRIS TECHNOLOGIES

4.52%

HONEYWELL INTL

4.43%

HOWMET AEROSPACE INC

4.26%

ELBIT SYSTEMS

3.57%

PARKER HANNIFIN

3.20%

TRANSDIGM GROUP

2.41%

AMPHENOL

2.28%

EATON CORP PLC

1.84%

CURTISS WRIGHT

1.49%

ITA

GENERAL ELECTRIC

19.03%

RAYTHEON TECHNOLOGIES CORPORD

16.55%

BOEING U

8.91%

GENERAL DYNAMICS

4.77%

L3 HARRIS TECHNOLOGIES

4.66%

LOCKHEED MARTIN

4.58%

NORTHROP GRUMMAN

4.58%

TRANSDIGM GROUP

4.53%

HOWMET AEROSPACE INC

4.50%

AXON ENTERPRISE INC

2.83%

US7731211089

2.55%

KYG3730V1059

2.12%

CURTISS WRIGHT

2.12%

WOODWARD

1.80%

ATI INC

1.67%

Frequently asked questions about PPA and ITA

How have the PPA and ITA ETFs performed in 2026?

As of May 20, 2026, PPA is up 7.44% year-to-date (YTD), while ITA has returned 4.24%. That puts PPA better performer ahead so far this year.

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

Year-to-date, the PPA ETF saw +$625M in flows, compared to +$416M for ITA.

Which ETF is more volatile: PPA or ITA?

Over the past year, PPA had a volatility of 18.76%, while ITA experienced 20.89%.

Which ETF is bigger: PPA or ITA?

As of May 20, 2026, PPA holds $7.95 B in assets under management (AUM), while ITA manages $13.71 B.

What sectors do the PPA and ITA ETFs invest in?

PPA leans toward sectors like Industrials. Meanwhile, ITA focuses on Industrials.

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

PPA top holdings include LOCKHEED MARTIN, RAYTHEON TECHNOLOGIES CORPORD and GENERAL ELECTRIC. ITA holds in its top three: GENERAL ELECTRIC, RAYTHEON TECHNOLOGIES CORPORD and BOEING U.

Which ETF is more diversified: PPA or ITA?

PPA holds 60 securities with 72.93% of its assets in the top 15. ITA has 45 securities and a top 15 weight of 85.18%.

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ITA

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PPA

ITA

PPAvsITAETF Comparison

Invesco Aerospace & Defense ETF

iShares U.S. Aerospace & Defense ETF

PPA vs ITA 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 ITA ETFs performed in 2026?

As of May 20, 2026, PPA is up 7.44% year-to-date (YTD), while ITA has returned 4.24%. That puts PPA better performer ahead so far this year.

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

Year-to-date, the PPA ETF saw +$625M in flows, compared to +$416M for ITA.

Which ETF is more volatile: PPA or ITA?

Over the past year, PPA had a volatility of 18.76%, while ITA experienced 20.89%.

Which ETF is bigger: PPA or ITA?

As of May 20, 2026, PPA holds $7.95 B in assets under management (AUM), while ITA manages $13.71 B.

What sectors do the PPA and ITA ETFs invest in?

PPA leans toward sectors like Industrials. Meanwhile, ITA focuses on Industrials.

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

PPA top holdings include LOCKHEED MARTIN, RAYTHEON TECHNOLOGIES CORPORD and GENERAL ELECTRIC. ITA holds in its top three: GENERAL ELECTRIC, RAYTHEON TECHNOLOGIES CORPORD and BOEING U.

Which ETF is more diversified: PPA or ITA?

PPA holds 60 securities with 72.93% of its assets in the top 15. ITA has 45 securities and a top 15 weight of 85.18%.

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