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PPAvsITAETF Comparison

ETF 1

PPA

Invesco Aerospace & Defense ETF

This fund is part of

US Large Cap

+0.46%

Full PPA fund page

VS

ETF 2

ITA

iShares U.S. Aerospace & Defense ETF

Full ITA fund page

Invesco Aerospace & Defense ETF (PPA) belongs to the US Large Cap segment. iShares U.S. Aerospace & Defense ETF (ITA) is part of the 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 9.66% year-to-date (YTD) with +$650M in YTD flows. ITA performs worse with 5.05% YTD performance, and +$380M 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 04/06/2026

		1M	3M	YTD	1Y	3Y	5Y
Perf.	PPA ITA	-5.01%-6.82%	+2.13%-2.10%	+9.66%+5.05%	+63.60%+66.83%	+117.89%+101.60%	+140.06%+122.53%
Flows	PPA ITA	+$201M-$1.35B	+$643M+$380M	+$650M+$380M	+$1.32B+$4.10B	+$2.92B+$2.87B	+$3.95B+$5.32B

Volatility and drawdown

		3M	1Y	3Y	5Y
Volatility	PPA ITA	+23.51%+24.95%	+20.06%+21.47%	+17.32%+18.85%	+18.13%+19.80%
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	35d35d	35d35d	171d35d	227d227d

Trading data

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	PPA	ITA
Last sale 4/7/2026 at 1:30 PM	$170.46	$223.30
Previous close 04/06/2026	$171.67	$225.20
Consolidated volume 04/06/2026
Average volume 30 days
Average discount or premium 30 days
Average Bid/Ask spread 30 days

Replication quality

Data as of March 31, 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 4/7/2026 at 1:30 PM

Live

Closed

	PPA	ITA
Last price	$170.46	$223.30
1D performance	-0.70%	-0.84%
AuM	$8.15 B	$13.79 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	35
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

94.61%

Other

5.39%

ITA

USA

99.93%

Other

0.07%

Sectors

PPA

Industrials

87.37%

Other

12.63%

ITA

Industrials

91.74%

Other

8.26%

Diversification

PPA

Total weight of top 15 holdings out of 15

72.44%

ITA

Total weight of top 15 holdings out of 15

85.42%

Top 15 holdings

Data as of February 28, 2026

PPA

LOCKHEED MARTIN

8.88%

GENERAL ELECTRIC

8.46%

RAYTHEON TECHNOLOGIES CORPORD

8.32%

BOEING U

8.27%

NORTHROP GRUMMAN

6.07%

GENERAL DYNAMICS

4.81%

HOWMET AEROSPACE INC

4.43%

HONEYWELL INTL

4.33%

L3 HARRIS TECHNOLOGIES

4.26%

PARKER HANNIFIN

3.34%

ELBIT SYSTEMS

2.87%

TRANSDIGM GROUP

2.53%

AMPHENOL

2.49%

EATON CORP PLC

1.76%

AXON ENTERPRISE INC

1.62%

ITA

GENERAL ELECTRIC

21.00%

RAYTHEON TECHNOLOGIES CORPORD

15.48%

BOEING U

7.65%

LOCKHEED MARTIN

5.18%

HOWMET AEROSPACE INC

5.11%

NORTHROP GRUMMAN

4.84%

L3 HARRIS TECHNOLOGIES

4.68%

GENERAL DYNAMICS

3.87%

TRANSDIGM GROUP

3.81%

AXON ENTERPRISE INC

3.55%

US7731211089

2.79%

CURTISS WRIGHT

2.12%

WOODWARD

1.90%

ATI INC

1.82%

CARPENTER TECHNOLOGY

1.62%

Frequently asked questions about PPA and ITA

How have the PPA and ITA ETFs performed in 2026?

As of April 6, 2026, PPA is up 9.66% year-to-date (YTD), while ITA has returned 5.05%. 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 +$650M in flows, compared to +$380M for ITA.

Which ETF is more volatile: PPA or ITA?

Over the past year, PPA had a volatility of 20.06%, while ITA experienced 21.47%.

Which ETF is bigger: PPA or ITA?

As of April 6, 2026, PPA holds $8.15 B in assets under management (AUM), while ITA manages $13.79 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, GENERAL ELECTRIC and RAYTHEON TECHNOLOGIES CORPORD. 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 72.44% of its assets in the top 15. ITA has 42 securities and a top 15 weight of 85.42%.

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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 April 6, 2026, PPA is up 9.66% year-to-date (YTD), while ITA has returned 5.05%. 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 +$650M in flows, compared to +$380M for ITA.

Which ETF is more volatile: PPA or ITA?

Over the past year, PPA had a volatility of 20.06%, while ITA experienced 21.47%.

Which ETF is bigger: PPA or ITA?

As of April 6, 2026, PPA holds $8.15 B in assets under management (AUM), while ITA manages $13.79 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, GENERAL ELECTRIC and RAYTHEON TECHNOLOGIES CORPORD. 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 72.44% of its assets in the top 15. ITA has 42 securities and a top 15 weight of 85.42%.

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MoneyShow Chart of the Day 6/18/25: Defense Stock Strength is Nothing NEW

ETFs Reveal a Growing Gap in U.S. vs. EU Defense Stock Performance

ETF Comparison: SPDR S&P Aerospace & Defense ETF (XAR) Versus Invesco Aerospace & Defense ETF (PPA)

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