XARvsPPAETF Comparison
ETF 1
XAR
State Street SPDR S&P Aerospace & Defense ETF
VS
ETF 2
PPA
Invesco Aerospace & Defense ETF
State Street SPDR S&P Aerospace & Defense ETF (XAR) and Invesco Aerospace & Defense ETF (PPA) belong to the same industry segment: . XAR's top 3 sector exposures are Industrials, Materials and Information Technology. In contrast, PPA's top sector exposures are Industrials, Information Technology and Materials. XAR is less expensive with a Total Expense Ratio (TER) of 0.35%, versus 0.58% for PPA. XAR is up 13.53% year-to-date (YTD) with +$836M in YTD flows. PPA performs worse with 9.66% YTD performance, and +$586M in YTD flows. Run a side-by-side ETF comparison of XAR and PPA 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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XAR vs PPA performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 06/09/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | XAR PPA | +1.57%+1.34% | -3.01%-5.08% | +13.53%+9.66% | +36.89%+26.06% | +134.55%+112.78% | +111.66%+130.64% |
| Flows | XAR PPA | -$21M-$35M | +$615K+$112M | +$836M+$586M | +$1.46B+$1.17B | +$2.01B+$2.87B | +$2.29B+$3.90B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | XAR PPA | +33.06%+23.84% | +26.96%+19.27% | +23.00%+17.80% | +23.36%+18.44% |
| Max drawdown | XAR PPA | -13.97%-11.45% | -17.03%-13.68% | -19.74%-15.16% | -32.38%-18.41% |
| Max drawdown duration | XAR PPA | 79d92d | 141d99d | 109d171d | 904d227d |
Trading data
XAR | PPA | |
Last sale 6/9/2026 at 1:30 PM | $273.38 | $171.75 |
| Previous close 06/09/2026 | $271.11 | $169.76 |
| 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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XAR | PPA | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 6/9/2026 at 1:30 PM
Live
Closed
XAR | PPA | |
|---|---|---|
| Last price | $273.38 | $171.75 |
| 1D performance | +0.84% | +1.17% |
| AuM | $6.13 B | $8.08 B |
| E/R | 0.35% | 0.58% |
Characteristics
XAR | PPA | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | State Street Investment Management | Invesco |
| Benchmark | S&P Aerospace & Defense Select Industry Index | SPADE Defense Index |
| N° of holdings | 34 | 51 |
| Asset class | Equities | Equities |
| Trailing 12m distribution yield | Join | Join |
| Inception date | September 28, 2011 | October 26, 2005 |
| ESG | No | No |
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Exposure
Countries
XAR
USA
96.87%
Other
3.13%
PPA
USA
93.44%
Other
6.56%
Sectors
XAR
Industrials
74.89%
Other
25.11%
PPA
Industrials
83.68%
Information Techn.
7.34%
Other
8.98%
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Diversification
XAR
Total weight of top 15 holdings out of 15
49.19%
PPA
Total weight of top 15 holdings out of 15
69.25%
Top 15 holdings
Data as of April 30, 2026
XAR
US7731211089
3.73%
HEXCEL
3.61%
BWX TECHNOLOGIES INC
3.59%
BOEING U
3.48%
CARPENTER TECHNOLOGY
3.41%
CURTISS WRIGHT
3.38%
TEXTRON
3.35%
ATI INC
3.21%
GENERAL DYNAMICS
3.16%
HOWMET AEROSPACE INC
3.14%
KYG3730V1059
3.12%
WOODWARD
3.06%
AEROVIRONMENT
3.05%
TRANSDIGM GROUP
3.00%
ARCHER AVIATION
2.90%
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%
Frequently asked questions about XAR and PPA
How have the XAR and PPA ETFs performed in 2026?
As of June 9, 2026, XAR is up 13.53% year-to-date (YTD), while PPA has returned 9.66%. That puts XAR better performer ahead so far this year.
Which ETF is attracting more investor money: XAR or PPA?
Year-to-date, the XAR ETF saw +$836M in flows, compared to +$586M for PPA.
Which ETF is more volatile: XAR or PPA?
Over the past year, XAR had a volatility of 26.96%, while PPA experienced 19.27%.
Which ETF is bigger: XAR or PPA?
As of June 9, 2026, XAR holds $6.13 B in assets under management (AUM), while PPA manages $8.08 B.
What sectors do the XAR and PPA ETFs invest in?
XAR leans toward sectors like Industrials. Meanwhile, PPA focuses on Industrials and Information Technology.
What are the top holdings of the XAR ETF and PPA ETF?
XAR top holdings include US7731211089, HEXCEL and BWX TECHNOLOGIES INC. PPA holds in its top three: BOEING U, GENERAL ELECTRIC and RAYTHEON TECHNOLOGIES CORPORD.
Which ETF is more diversified: XAR or PPA?
XAR holds 41 securities with 49.19% of its assets in the top 15. PPA has 60 securities and a top 15 weight of 69.25%.
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