XLIvsPPAETF Comparison
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. Both ETFs have the same top 3 sector exposures: Industrials and Information Technology. XLI is less expensive with a Total Expense Ratio (TER) of 0.08%, versus 0.58% for PPA. XLI is up 13.95% year-to-date (YTD) with +$1.94B in YTD flows. PPA performs worse with 11.21% YTD performance, and +$593M 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
Cumulative Flows
Historic performance and flows
Data as of 06/12/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | XLI PPA | +1.09%+2.66% | +6.94%+0.09% | +13.95%+11.21% | +24.12%+28.89% | +78.69%+114.55% | +84.55%+133.64% |
| Flows | XLI PPA | -$335M-$28M | +$537M+$30M | +$1.94B+$593M | +$4.52B+$1.17B | +$6.29B+$2.88B | +$217M+$3.90B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | XLI PPA | +21.52%+26.10% | +16.20%+20.09% | +16.42%+18.09% | +17.60%+18.63% |
| Max drawdown | XLI PPA | -5.63%-9.08% | -12.21%-13.68% | -18.43%-15.16% | -21.70%-18.41% |
| Max drawdown duration | XLI PPA | 21d24d | 102d102d | 165d171d | 526d227d |
Trading data
XLI | PPA | |
Last sale 6/15/2026 at 2:48 PM | $179.00 | $175.95 |
| Previous close 06/12/2026 | $176.18 | $174.13 |
| Consolidated volume 06/12/2026 | ||
| 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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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 6/15/2026 at 2:48 PM
Live
Closed
XLI | PPA | |
|---|---|---|
| Last price | $179.00 | $175.95 |
| 1D performance | +1.60% | +1.05% |
| AuM | $31.07 B | $8.20 B |
| E/R | 0.08% | 0.58% |
Characteristics
XLI | PPA | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | State Street Investment Management | Invesco |
| Benchmark | S&P Industrial Select Sector Index | SPADE Defense Index |
| N° of holdings | 77 | 51 |
| Asset class | Equities | Equities |
| Trailing 12m distribution yield | Join | Join |
| Inception date | December 16, 1998 | October 26, 2005 |
| ESG | No | No |
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Exposure
Countries
XLI
USA
92.73%
Ireland
7.19%
Other
0.08%
PPA
USA
93.44%
Other
6.56%
Sectors
XLI
Industrials
91.43%
Other
8.57%
PPA
Industrials
83.68%
Information Techn.
7.34%
Other
8.98%
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Diversification
XLI
Total weight of top 15 holdings out of 15
50.62%
PPA
Total weight of top 15 holdings out of 15
69.25%
Top 15 holdings
Data as of April 30, 2026
XLI
CATERPILLAR
7.61%
GENERAL ELECTRIC
5.59%
US36828A1016
5.36%
RAYTHEON TECHNOLOGIES CORPORD
4.34%
BOEING U
3.30%
EATON CORP PLC
3.09%
UNION PACIFIC U
2.94%
UBER TECHNOLOGIES INC
2.82%
DEERE
2.73%
HONEYWELL INTL
2.50%
VERTIV HOLDINGS
2.31%
PARKER HANNIFIN
2.11%
TRANE TECHNOLOGIES PLC
2.00%
QUANTA SERVICES
1.99%
LOCKHEED MARTIN
1.93%
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 XLI and PPA
How have the XLI and PPA ETFs performed in 2026?
As of June 12, 2026, XLI is up 13.95% year-to-date (YTD), while PPA has returned 11.21%. 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 +$1.94B in flows, compared to +$593M for PPA.
Which ETF is more volatile: XLI or PPA?
Over the past year, XLI had a volatility of 16.2%, while PPA experienced 20.09%.
Which ETF is bigger: XLI or PPA?
As of June 12, 2026, XLI holds $31.07 B in assets under management (AUM), while PPA manages $8.20 B.
What sectors do the XLI and PPA ETFs invest in?
XLI leans toward sectors like Industrials. Meanwhile, PPA focuses on Industrials and Information Technology.
What are the top holdings of the XLI ETF and PPA ETF?
XLI top holdings include CATERPILLAR, GENERAL ELECTRIC and US36828A1016. PPA holds in its top three: BOEING U, GENERAL ELECTRIC and RAYTHEON TECHNOLOGIES CORPORD.
Which ETF is more diversified: XLI or PPA?
XLI holds 79 securities with 50.62% of its assets in the top 15. PPA has 60 securities and a top 15 weight of 69.25%.
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