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XLIvsPPAETF Comparison

ETF 1
XLI

State Street Industrial Select Sector SPDR ETF

This fund is part of
US Industrials
+0.25%
VS
ETF 2
PPA

Invesco Aerospace & Defense ETF

State Street Industrial Select Sector SPDR ETF (XLI) belongs to the US Industrials segment. Invesco Aerospace & Defense ETF (PPA) is part of the segment. XLI's top 3 sector exposures are Industrials, Business Services and Non-Energy Materials. In contrast, PPA's top sector exposures are Industrials, Technology and Non-Energy Materials. XLI is less expensive with a Total Expense Ratio (TER) of 0.08%, versus 0.58% for PPA. XLI is up 18.75% year-to-date (YTD) with +$3.05B in YTD flows. PPA performs worse with 13.26% YTD performance, and +$636M in YTD flows. Run a side-by-side ETF comparison of XLI 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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XLI vs PPA performance and flow charts

Performance

-4.0-2.00.02.04.06.0%Jun 29Jul 7Jul 14Jul 21

Cumulative Flows

-400 M-200 M0 M200 M400 M600 M800 MJun 29Jul 7Jul 14Jul 21

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Historic performance and flows
Data as of 07/27/2026
1M3MYTD1Y3Y5Y
Perf.
XLI
PPA
+0.21%+2.45%
+6.49%+6.94%
+18.75%+13.26%
+20.11%+20.88%
+74.67%+114.04%
+91.69%+144.19%
Flows
XLI
PPA
+$152M-$378M
+$1.23B-$81M
+$3.05B+$636M
+$5.17B+$1.01B
+$6.31B+$2.88B
+$2.25B+$3.96B
Volatility and drawdown
3M1Y3Y5Y
Volatility
XLI
PPA
+19.19%+23.62%
+16.68%+20.57%
+16.59%+18.34%
+17.58%+18.61%
Max drawdown
XLI
PPA
-4.63%-8.09%
-12.21%-13.68%
-18.43%-15.16%
-21.70%-18.41%
Max drawdown duration
XLI
PPA
37d21d
102d147d
165d171d
526d227d
Trading data

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XLI
PPA
Last sale
7/28/2026 at 1:30 PM
$182.49
$177.66
Previous close
07/27/2026
$183.20
$177.18
Consolidated volume
07/27/2026
Average volume
30 days
Average discount or premium
30 days
Average Bid/Ask spread
30 days
Replication quality
Data as of June 30, 2026
1-year trailing difference

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XLI
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 7/28/2026 at 1:30 PM
Live
Closed
XLI
PPA
Last price
$182.49
$177.66
1D performance
-0.39%
+0.27%
AuM$33.41 B$8.39 B
E/R0.08%0.58%
Characteristics
XLI
PPA
Management strategyPassivePassive
ProviderState Street Investment ManagementInvesco
BenchmarkS&P Industrial Select Sector IndexSPADE Defense Index
N° of holdings7960
Asset classEquitiesEquities
Trailing 12m distribution yield
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Inception dateDecember 16, 1998October 26, 2005
ESGNoNo
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Exposure

Countries

XLI
USA
90.11%
Other
9.89%
PPA
USA
89.53%
Other
10.47%

Sectors

XLI
Industrials
87.47%
Other
12.53%
PPA
Industrials
83.1%
Other
16.9%
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Diversification

XLI

Total weight of top 15 holdings out of 15

50.74%
PPA

Total weight of top 15 holdings out of 15

67.56%

Top 15 holdings

Data as of June 30, 2026
XLI
Caterpillar, Inc.
8.48%
GE Aerospace
6.74%
GE Vernova, Inc.
5.46%
RTX Corp.
4.42%
The Boeing Co.
2.95%
Eaton Corp. Plc
2.86%
Union Pacific Corp.
2.79%
Deere & Co.
2.75%
Uber Technologies, Inc.
2.54%
Vertiv Holdings Co.
2.22%
Parker-Hannifin Corp.
2.13%
Trane Technologies Plc
1.88%
Quanta Services, Inc.
1.87%
Howmet Aerospace, Inc.
1.86%
Lockheed Martin Corp.
1.79%
PPA
GE Aerospace
9.76%
The Boeing Co.
8.44%
RTX Corp.
7.44%
Lockheed Martin Corp.
6.11%
Howmet Aerospace, Inc.
4.51%
General Dynamics Corp.
4.45%
Parker-Hannifin Corp.
3.89%
Northrop Grumman Corp.
3.76%
L3Harris Technologies, Inc.
3.34%
Elbit Systems Ltd.
2.98%
TransDigm Group, Inc.
2.92%
Rocket Lab Corp.
2.77%
Amphenol Corp.
2.54%
US4385162056
2.42%
US43849R1059
2.22%
Frequently asked questions about XLI and PPA

How have the XLI and PPA ETFs performed in 2026?

As of July 27, 2026, XLI is up 18.75% year-to-date (YTD), while PPA has returned 13.26%. That puts XLI better performer ahead so far this year.

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

Year-to-date, the XLI ETF saw +$3.05B in flows, compared to +$636M for PPA.

Which ETF is more volatile: XLI or PPA?

Over the past year, XLI had a volatility of 16.68%, while PPA experienced 20.57%.

Which ETF is bigger: XLI or PPA?

As of July 27, 2026, XLI holds $33.41 B in assets under management (AUM), while PPA manages $8.39 B.

What sectors do the XLI and PPA ETFs invest in?

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

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

XLI top holdings include Caterpillar, Inc., GE Aerospace and GE Vernova, Inc.. PPA holds in its top three: GE Aerospace, The Boeing Co. and RTX Corp..

Which ETF is more diversified: XLI or PPA?

XLI holds 81 securities with 50.74% of its assets in the top 15. PPA has 61 securities and a top 15 weight of 67.56%.

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