PPAvsMISLETF Comparison
ETF 1
PPA
Invesco Aerospace & Defense ETF
VS
ETF 2
MISL
First Trust Indxx Aerospace & Defense ETF
Invesco Aerospace & Defense ETF (PPA) and First Trust Indxx Aerospace & Defense ETF (MISL) belong to the same industry segment: . PPA's top 3 sector exposures are Industrials, Information Technology and Materials. In contrast, MISL's top sector exposures are Industrials, Communication Services PPA is less expensive with a Total Expense Ratio (TER) of 0.58%, versus 0.6% for MISL. PPA is up 9.66% year-to-date (YTD) with +$586M in YTD flows. MISL performs worse with 6.69% YTD performance, and -$565M in YTD flows. Run a side-by-side ETF comparison of PPA and MISL 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 MISL performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 06/09/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | PPA MISL | +1.34%+1.32% | -5.08%-7.73% | +9.66%+6.69% | +26.06%+28.09% | +112.78%+104.08% | +130.64%n/a |
| Flows | PPA MISL | -$35M-$613M | +$112M-$635M | +$586M-$565M | +$1.17B+$527M | +$2.87B+$613M | +$3.90B- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | PPA MISL | +23.84%+28.06% | +19.27%+22.62% | +17.80%+19.44% | +18.44%n/a |
| Max drawdown | PPA MISL | -11.45%-13.10% | -13.68%-15.51% | -15.16%-17.72% | -18.41%n/a |
| Max drawdown duration | PPA MISL | 92d91d | 99d140d | 171d184d | 227dn/a |
Trading data
PPA | MISL | |
Last sale 6/10/2026 at 1:30 PM | $167.62 | $44.84 |
| Previous close 06/09/2026 | $171.75 | $45.86 |
| 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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PPA | MISL | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 6/10/2026 at 1:30 PM
Live
Closed
PPA | MISL | |
|---|---|---|
| Last price | $167.62 | $44.84 |
| 1D performance | -2.40% | -2.22% |
| AuM | $8.08 B | $800.30 M |
| E/R | 0.58% | 0.6% |
Characteristics
PPA | MISL | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | Invesco | First Trust |
| Benchmark | SPADE Defense Index | Indxx US Aerospace and Defense Index |
| N° of holdings | 51 | 28 |
| Asset class | Equities | Equities |
| Trailing 12m distribution yield | Join | Join |
| Inception date | October 26, 2005 | October 26, 2022 |
| ESG | No | No |
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Exposure
Countries
PPA
USA
93.44%
Other
6.56%
MISL
USA
78.01%
Other
21.99%
Sectors
PPA
Industrials
83.68%
Information Techn.
7.34%
Other
8.98%
MISL
Industrials
74.81%
Other
25.19%
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Diversification
PPA
Total weight of top 15 holdings out of 15
69.25%
MISL
Total weight of top 15 holdings out of 15
67.49%
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%
MISL
BOEING U
8.96%
GENERAL ELECTRIC
7.92%
RAYTHEON TECHNOLOGIES CORPORD
7.36%
LOCKHEED MARTIN
7.05%
TRANSDIGM GROUP
4.04%
HOWMET AEROSPACE INC
4.02%
GENERAL DYNAMICS
3.95%
L3 HARRIS TECHNOLOGIES
3.88%
HEICO
3.76%
NORTHROP GRUMMAN
3.62%
AST SPACEMOBILE
3.20%
CURTISS WRIGHT
3.11%
WOODWARD
2.59%
LEIDOS HOLDINGS INC
2.20%
TEXTRON
1.83%
Frequently asked questions about PPA and MISL
How have the PPA and MISL ETFs performed in 2026?
As of June 9, 2026, PPA is up 9.66% year-to-date (YTD), while MISL has returned 6.69%. That puts PPA better performer ahead so far this year.
Which ETF is attracting more investor money: PPA or MISL?
Year-to-date, the PPA ETF saw +$586M in flows, compared to -$565M for MISL.
Which ETF is more volatile: PPA or MISL?
Over the past year, PPA had a volatility of 19.27%, while MISL experienced 22.62%.
Which ETF is bigger: PPA or MISL?
As of June 9, 2026, PPA holds $8.08 B in assets under management (AUM), while MISL manages $800.30 M.
What sectors do the PPA and MISL ETFs invest in?
PPA leans toward sectors like Industrials and Information Technology. Meanwhile, MISL focuses on Industrials.
What are the top holdings of the PPA ETF and MISL ETF?
PPA top holdings include BOEING U, GENERAL ELECTRIC and RAYTHEON TECHNOLOGIES CORPORD. MISL holds in its top three: BOEING U, GENERAL ELECTRIC and RAYTHEON TECHNOLOGIES CORPORD.
Which ETF is more diversified: PPA or MISL?
PPA holds 60 securities with 69.25% of its assets in the top 15. MISL has 28 securities and a top 15 weight of 67.49%.
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