Skip to Content
ETFs

Invesco Aerospace & Defense ETF

PPA
$—
Today’s Change
— (—)

Snapshot
*

Inception Date
Oct 26, 2005
Expense Ratio
0.61%
Type
US Equities
Fund Owner
Invesco
Volume (1m avg. daily)
$7,962,794
AUM
$1,911,223,440
Associated Index
SPADE Defense Index
Inverse/Leveraged
No
Passive/Active
Passive
Fractionable on Composer
Yes
Prospectus
View

Top 10 Holdings

BA
Boeing Co.
6.55%
NOC
Northrop Grumman Corp.
6.32%
LMT
Lockheed Martin Corp.
6.08%
GE
General Electric Co.
5.74%
RTX
RTX Corp
5.04%
GD
General Dynamics Corp.
4.98%
HON
Honeywell International Inc
4.62%
LHX
L3Harris Technologies Inc
4.22%
TDG
Transdigm Group Incorporated
3.75%
AXON
Axon Enterprise Inc
3.57%
Invest with PPA
Trade PPA Options

What is PPA?

The Invesco Aerospace & Defense ETF (Fund) is based on the SPADE Defense Index (Index). The Fund will normally invest at least 90% of its total assets in common stocks that comprise the Index. The Index is designed to identify a group of companies involved in the development, manufacturing, operations and support of US defense, homeland security and aerospace operations. The Fund and the Index are rebalanced and reconstituted quarterly.

1M
3M
6M
YTD
1Y
3Y
Max
www.composer.trade

PPA
Performance Measures**

for the time period Oct 26, 2005 to Dec 5, 2025

Returns

1M Trailing Return: -2.1%

The percent change in the value over the most recent 1-month period.

3M Trailing Return: 2.5%

The percent change in the value over the most recent 3-month period.

Measures of Risk or Volatility

Max Drawdown: -57.4%

The greatest percent loss from peak to trough in value over the time period.

Standard Deviation: 20.7%

The typical amount that daily returns vary from the mean of the returns over the time period, standardized to a period of a year.

Measures of Risk-Adjusted Performance

Sharpe Ratio: 0.71

The annualized arithmetic mean of the daily returns divided by the annualized standard deviation of the daily returns for the selected time period.

Calmar Ratio: 0.23

The annualized return divided by the max drawdown for the selected time period.

ETFs related toPPA

ETFs correlated to PPA include ITA, DFEN, XAR

PPA
Invesco Capital Management LLC - Invesco Aerospace & Defense ETF
ITA
BlackRock Institutional Trust Company N.A. - iShares U.S. Aerospace & Defense ETF
DFEN
Direxion Shares ETF Trust - Direxion Daily Aerospace & Defense Bull 3X Shares
XAR
SPDR Series Trust - SPDR S&P Aerospace & Defense ETF
XLI
SSgA Active Trust - Industrial Select Sector SPDR
VIS
Vanguard Group, Inc. - Vanguard Industrials ETF
FIDU
Fidelity Covington Trust - Fidelity MSCI Industrials Index ETF
IYJ
BlackRock Institutional Trust Company N.A. - iShares U.S. Industrials ETF
RSPN
Invesco Capital Management LLC - Invesco S&P 500 Equal Weight Industrials ETF
CVRD
Madison ETFs Trust - Madison Covered Call ETF
VTV
Vanguard Group, Inc. - Vanguard Value ETF

What is ETF correlation?

Correlation is a measure of the strength of the relationship between two ETFs. It quantifies the degree to which prices of the two ETFs typically move together.

Here, correlation is measured over the past year with the Pearson correlation coefficient (Pearon’s r), which ranges from -1 to 1.

Using ETF correlations in portfolio and strategy construction

ETF correlations can help you create investing strategies and portfolios. Use them to:

  • •Build a diversified portfolio from uncorrelated or inversely correlated ETFs with the aim of minimizing portfolio risk.
  • •Compare correlated or related ETFs to find one with a lower expense ratio or higher trading volume.
  • •Create an investing strategy that hedges an ETF with an uncorrelated or inversely correlated ETF.

Trading Strategies
Related toPPA

Simon | KMLM switcher | Simon Shorts Ed. + MbM | (single pops)| BT 4/13/22

Category

Trend-following, RSI momentum, volatility hedging, leveraged ETFs, inverse ETFs, managed futures (KMLM), bonds/cash, tech/semis/small-cap/biotech, risk-on/off

OOS Cumulative Return

96.99%

CQ | WIIGF? V1.0 | 10.12.23

Category

Tactical rotation, Momentum, Aerospace & Defense, Israel tech, Energy, Equal-weight, 3vs7-day trend, 90-day ranking

OOS Cumulative Return

80.64%

Create your own algorithmic trading strategy with PPA using Composer

FAQ

PPA is a US Equities ETF. The Invesco Aerospace & Defense ETF (Fund) is based on the SPADE Defense Index (Index). The Fund will normally invest at least 90% of its total assets in common stocks that comprise the Index. The Index is designed to identify a group of companies involved in the development, manufacturing, operations and support of US defense, homeland security and aerospace operations. The Fund and the Index are rebalanced and reconstituted quarterly.

PPA tracks the SPADE Defense Index.

No, PPA is not actively managed. It is passively managed. In an actively managed fund, the fund manager makes decisions about how funds are invested. A passively managed fund typically tries to track or follow a market index.

Yes, PPA is passively managed. A passively managed fund typically tries to track or follow a market index. In an actively managed fund, the fund manager makes decisions about how funds are invested.

The 1-month return on PPA is -0.0343%. This is the percent change in the value of PPA over the most recent 1-month period. The 3-month return on PPA is -0.0222%. This is the percent change in the value of PPA over the most recent 3-month period.

The standard deviation of PPA for the past year is 0.1713%. Standard deviation is the typical amount that the daily returns vary from the mean of the returns over the time period, standardized to a period of a year.

ETFs similar to PPA include XLY, XLV, and XLE.

ETFs correlated to PPA include ITA, DFEN, and XAR.

ETFs that are inversely correlated to PPA include DOG, DXD, and SDOW.

Disclaimers

*

We show information directly obtained from our data provider, Xignite. Data shown here is provided by Xignite, an unaffiliated third party. Composer believes the information shown here is reliable, but has not been verified and there is no guarantee that the information is accurate.

**

We show information based on calculations performed by Composer using data from our provider. Information provided here is based on calculations performed by Composer using data sourced from Xignite, an unaffiliated third party. Composer believes this information is reliable, but has not verified the data and there is no guarantee that the calculations are accurate.