BROUGHT TO YOU BY:

ETF Portfolio Builder

New

ETF Portfolio Builder

New

PPAvsMADEETF Comparison

ETF 1

PPA

Invesco Aerospace & Defense ETF

Full PPA fund page

VS

ETF 2

MADE

iShares U.S. Manufacturing ETF

This fund is part of

US Large Cap

-0.46%

Full MADE fund page

Invesco Aerospace & Defense ETF (PPA) belongs to the segment. iShares U.S. Manufacturing ETF (MADE) is part of the US Large Cap segment. PPA's top 3 sector exposures are Industrials, Technology and Business Services. In contrast, MADE's top sector exposures are Industrials, Technology and Consumer Cyclicals. PPA is more expensive with a Total Expense Ratio (TER) of 0.58%, versus 0.4% for MADE. PPA is down -1.33% year-to-date (YTD) with +$656M in YTD flows. MADE performs better with 6.01% YTD performance, and +$26M in YTD flows. Run a side-by-side ETF comparison of PPA and MADE below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.

Find out how industry players manage ETF portfolios. Discover our library of Model portfolios

PPA vs MADE performance and flow charts

Performance

Cumulative Flows

Get all the metrics on this page, and more, through a reliable ETF data feed

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 10/23/2026

		1M	3M	YTD	1Y	3Y	5Y
Perf.	PPA MADE	-3.54%-7.09%	-11.42%-11.74%	-1.33%+6.01%	-2.41%+9.92%	+95.36%n/a	+111.01%n/a
Flows	PPA MADE	-$28M-$2M	+$41M-$2M	+$656M+$26M	+$718M+$28M	+$2.72B-	+$4.00B-

Volatility and drawdown

		3M	1Y	3Y	5Y
Volatility	PPA MADE	+18.01%+21.08%	+21.21%+23.73%	+18.64%n/a	+18.84%n/a
Max drawdown	PPA MADE	-17.14%-14.52%	-17.34%-16.58%	-17.34%n/a	-18.41%n/a
Max drawdown duration	PPA MADE	68d72d	235d123d	235dn/a	227dn/a

Trading data

Create an account to view trading data

Join for free

	PPA	MADE
Last sale 10/23/2026 at 1:30 PM	$154.03	$32.89
Previous close 10/22/2026	$154.53	$33.10
Consolidated volume 10/22/2026
Average volume 30 days
Average discount or premium 30 days
Average Bid/Ask spread 30 days

Replication quality

Data as of September 30, 2026

1-year trailing difference

Create an account to view replication metrics

Join for free

Create an account to view replication quality

Join for free

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

Main metrics

Last update 10/23/2026 at 1:30 PM

Live

Closed

	PPA	MADE
Last price	$154.03	$32.89
1D performance	-0.32%	-0.64%
AuM	$7.28 B	$53.32 M
E/R	0.58%	0.4%

Characteristics

	PPA	MADE
Management strategy	Passive	Passive
Provider	Invesco	iShares
Benchmark	SPADE Defense Index	S&P U.S. Manufacturing Select Index
N° of holdings	61	114
Asset class	Equities	-
Trailing 12m distribution yield	Join	Join
Inception date	October 26, 2005	July 18, 2024
ESG	No	No

More PPA data on Trackinsight

More MADE data on Trackinsight

Exposure

Countries

PPA

USA

93.91%

Other

6.09%

MADE

USA

85.08%

Ireland

12.87%

Other

2.05%

Sectors

PPA

Industrials

86.69%

Other

13.31%

MADE

Industrials

78.74%

Technology

13.17%

Consumer Cyclical.

7.75%

Other

0.34%

Diversification

PPA

Total weight of top 15 holdings out of 15

68.17%

MADE

Total weight of top 15 holdings out of 15

52.49%

Top 15 holdings

Data as of August 31, 2026

PPA

RTX Corp.

8.32%

GE Aerospace

6.88%

The Boeing Co.

6.78%

Lockheed Martin Corp.

6.56%

General Dynamics Corp.

5.00%

Northrop Grumman Corp.

4.86%

Howmet Aerospace, Inc.

4.31%

Parker-Hannifin Corp.

3.89%

Axon Enterprise, Inc.

3.77%

L3Harris Technologies, Inc.

3.68%

Honeywell Aerospace, Inc.

3.24%

Elbit Systems Ltd.

3.16%

TransDigm Group, Inc.

2.97%

Amphenol Corp.

2.57%

Eaton Corp. Plc

2.19%

MADE

Deere & Co.

4.73%

Eaton Corp. Plc

4.33%

Amphenol Corp.

4.30%

RTX Corp.

3.99%

Parker-Hannifin Corp.

3.85%

Caterpillar, Inc.

3.76%

General Motors Co.

3.71%

Cummins, Inc.

3.62%

Vertiv Holdings Co.

3.37%

PACCAR, Inc.

3.11%

Trane Technologies Plc

3.06%

TE Connectivity Plc

2.86%

Johnson Controls International Plc

2.63%

Ford Motor Co.

2.60%

Coherent Corp.

2.59%

Frequently asked questions about PPA and MADE

PPAvsMADEETF Comparison

Invesco Aerospace & Defense ETF

iShares U.S. Manufacturing ETF

PPA vs MADE 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 MADE ETFs performed in 2026?

As of October 23, 2026, PPA is down -1.33% year-to-date (YTD), while MADE has returned 6.01%. That puts MADE better performer ahead so far this year.

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

Year-to-date, the PPA ETF saw +$656M in flows, compared to +$26M for MADE.

Which ETF is more volatile: PPA or MADE?

Over the past year, PPA had a volatility of 21.21%, while MADE experienced 23.73%.

Which ETF is bigger: PPA or MADE?

As of October 23, 2026, PPA holds $7.28 B in assets under management (AUM), while MADE manages $53.32 M.

What sectors do the PPA and MADE ETFs invest in?

PPA leans toward sectors like Industrials. Meanwhile, MADE focuses on Industrials, Technology and Consumer Cyclicals.

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

PPA top holdings include RTX Corp., GE Aerospace and The Boeing Co.. MADE holds in its top three: Deere & Co., Eaton Corp. Plc and Amphenol Corp..

Which ETF is more diversified: PPA or MADE?

PPA holds 61 securities with 68.17% of its assets in the top 15. MADE has 114 securities and a top 15 weight of 52.49%.

ETF Model Portfolios: The Geopolitical Risk Thematic Hedge

Trump’s “Big Beautiful Bill” Passes Final Vote: ETF Winners & Losers

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

Are Aerospace & Defense ETFs Overbought and Overvalued Right Now?

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

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)

ETFs’ Next Act: From Access to Selection