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PPA ETF · Invesco Aerospace & Defense ETF
The PPA Exchange Traded Fund (ETF) is provided by Invesco. It is built to track an index: SPADE Defense Index. The PPA ETF provides physical exposure, so by buying it you actually own parts of all the 60 underlying holdings. This share class generates a stream of income by distributing dividends.
Last update Yesterday at 1:30 PM UTC
LIVE
CLOSED
Last price
$177.99
1M perf.
+1.75%
1M flows
+€263M
AuM
€7.21B
E/R
0.58%
Rating
ESG Consensus®
PPA
$177.99
Performance & flows
December 10, 2025 → March 10, 2026
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PPA
$178.65
+17.23%
Historic performance and flows
| 1M | 3M | 1Y | 3Y | 5Y | MTD | QTD | YTD | ||
|---|---|---|---|---|---|---|---|---|---|
| Perf. | +1.75% | +17.23% | +57.03% | +130.07% | +161.92% | -1.37% | +14.09% | +14.09% | |
| Flows |
Key fund info
This ETF's jurisdiction country is not in your region (Europe and Middle East) ·
Main characteristics
More details
NAV
3/10/2026
$178.65
1D NAV change
-1.24%
Dividend policy
Replication method
Direct (Physical)
Replication model
Full replication
No. of holdings
60
Inception date
10/26/2005
Jurisdiction
United States
Distribution
United States
Legal structure
Open-end Fund
Base currency
USD
Dividend distribution
Trailing 12-month distr. yield
Distribution frequency
Last distribution
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Classification
Investment strategy
The Invesco Aerospace & Defense ETF (Fund) is based on the SPADEâ„¢ 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.
Tax optimisation
PEA
France
UK Reporting Status
United Kingdom
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Enterprise
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Learn more about Trackinsight EnterpriseSimilar ETFs in your region
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Risk profile
Historical risk/return profile
| 3M | 1Y | 3Y | 5Y | |
|---|---|---|---|---|
| Returns | +17.23% | +57.03% | +130.07% | +161.92% |
| Volatility | ||||
| Perf./Volatility | ||||
| Max drawdown |
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Synthetic Risk and Reward Indicator (SRRI)
UCITS
N/A
PRIIPS
N/A
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Enterprise
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Learn more about Trackinsight EnterpriseExposure
Countries
USA
94.79%
Israel
2.73%
Ireland
1.61%
Other
0.87%
Sectors
Industrials
87.02%
Information Technology
6.46%
Unavailable
5.47%
Other
1.05%
Diversification
Total weight of top 15 holdings out of 60
Top 15 holdings
Data as of January 31, 2026
BOEING U
RAYTHEON TECHNOLOGIES CORPORD
LOCKHEED MARTIN
GENERAL ELECTRIC
NORTHROP GRUMMAN
GENERAL DYNAMICS
L3 HARRIS TECHNOLOGIES
HONEYWELL INTL
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HOWMET AEROSPACE INC
PARKER HANNIFIN
TRANSDIGM GROUP
ELBIT SYSTEMS
AMPHENOL
AXON ENTERPRISE INC
US7731211089
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Built for professionals: access exclusive exposure metrics in Trackinsight Enterprise.
Enterprise
Trackinsight Enterprise helps professional and institutional ETF investors tackle operational, regulatory, and analytical challenges at every stage of the investment process.
Learn more about Trackinsight EnterpriseSustainability
Integrates ESG criteria
No
SDG
ESG Consensus® by Conser
Data as of December 31, 2025
MethodologyOur partner Conser gathers the industry's consensus on the business practices of the underlying holdings. We have computed the following metrics about PPA ETF's sustainability, based on their methodology.
ESG Consensus®
ESG Consensus® is based on the Final Sustainability Grade, which itself consists of 10 grades. Our partner Conser calculates the exact grade, based on market intelligence, using their proprietary ESG Consensus® methodology.
PPA’s has a Final Sustainability Grade of either C+, C, C-, or D.
A+
A
A-
B+
B
B-
C+
C
C-
D
This fund’s exact Final Sustainability Grade is available in Trackinsight Enterprise.
Learn more about Trackinsight EnterpriseHoldings review
17.09% of holdings have positive scoring
82.91% of holdings have negative scoring
7.52%
8.66%
43.65%
37.15%
Consensus levels
Strong
Medium
Weak
Built for professionals: access exclusive sustainability metrics in Trackinsight Enterprise.
Enterprise
Trackinsight Enterprise helps professional and institutional ETF investors tackle operational, regulatory, and analytical challenges at every stage of the investment process.
Learn more about Trackinsight EnterpriseReplication
Trackinsight replication rating:
Replication quality
Calculated over 12m, as of February 27, 2026
Tracking error
Tracking difference
Replication information
Index
SPADE Defense TR Index - USD
Index ticker
DXSTR Index
Index dividend policy
GTR
Replication method
Replication model
Built for professionals: access exclusive replication metrics in Trackinsight Enterprise.
Enterprise
Trackinsight Enterprise helps professional and institutional ETF investors tackle operational, regulatory, and analytical challenges at every stage of the investment process.
Learn more about Trackinsight EnterpriseIssuer
Invesco
Invesco ID Card
Number of funds
631
Total AuM
€854.25B
Expense ratio range
0.04% - 5.39%
Average expense ratio
0.3562%
Top 5 funds by Invesco
| AuM | ||
|---|---|---|
QQQ | Invesco QQQ ETF | €337.19B |
RSP | Invesco S&P 500® Equal Weight ETF | €74.81B |
QQQM | Invesco NASDAQ 100 ETF | €61.32B |
SPXS | Invesco S&P 500 UCITS ETF | €30.76B |
SGLD | Invesco Physical Gold USD ETC | €28.7B |
Frequently asked questions about PPA
What does Invesco Aerospace & Defense ETF, PPA, invest in?
PPA is a Passive ETF. This ETF provides exposure to US Aerospace & Defense Equities.
Which benchmark or index does PPA replicate?
PPA tracks the SPADE Defense TR Index - USD, through a full replication replication method.
What is the Total Expense ratio (TER) of PPA?
PPA carries a total expense ratio (TER) of 0.58%, indicating the annual cost for holding the fund.
When was PPA launched?
PPA was introduced to the market on October 26, 2005. It trades on United States
Who is the ETF issuer of PPA?
Invesco Aerospace & Defense ETF, PPA, is provided by Invesco. Learn more about Invesco here.
What is the current assets under management (AUM) of PPA?
PPA oversees €7.21B in assets as of March 10, 2026.
How has PPA performed lately?
Based on data from March 10, 2026, PPA returned 1.75% over the past month, 17.23% over the last three months and 14.09% year-to-date.
What are the latest inflows or outflows for PPA?
As of March 10, 2026, PPA recorded net flows of +€265M over the last month and +€471M year-to-date.
Does PPA distribute dividends?
PPA follows a distributing dividend policy, meaning it pays out income to investors. As of March 10, 2026, its 12-month trailing yield was 0.37%.
What are the main country or region exposures of PPA?
As of January 31, 2026, PPA has significant geographic allocations in USA, Israel and Ireland.
In which sector or theme does PPA invest in?
As of January 31, 2026, PPA focuses largely on Industrials and Information Technology.
How many securities does PPA hold and how diversified is it?
As of January 31, 2026, PPA holds 60 positions in its portfolio, with 71.65% of assets concentrated in its top 15 holdings.
What are the main positions in PPA?
As of January 31, 2026, PPA top three holdings include BOEING U, RAYTHEON TECHNOLOGIES CORPORD and LOCKHEED MARTIN.
What is the base currency of PPA?
The base currency of PPA is USD.
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