Invesco Aerospace & Defense ETF (PPA) belongs to the Aerospace & Defense category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with PPA. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to PPA
PPA charges 0.58% annually. There are 12 ETFs in the Aerospace & Defense category with lower expense ratios, going as low as 0.35%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| SPDR S&P Aerospace & Defense ETF | 0.35% | 6.22B | Sep 2011 | PPA vs XAR | |
| Themes Transatlantic Defense ETF | 0.35% | — | Oct 2024 | PPA vs NATO | |
| Xtrackers Europe Defense Technologies ETF | 0.35% | 4.24M | Feb 2026 | PPA vs XDEF | |
| iShares U.S. Aerospace & Defense ETF | 0.38% | 14.23B | May 2006 | PPA vs ITA | |
| WisdomTree Global Defense Fund | 0.45% | 5.37M | Sep 2025 | PPA vs WDGF |
Best Risk-Adjusted Alternatives to PPA
PPA has a PortfoliosLab risk / return rank of 32. There are 4 ETFs in the Aerospace & Defense category with higher risk-adjusted ranks, going as high as 51.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| Gabelli Commercial Aerospace & Defense ETF | 51 | 24.90M | Jan 2023 | PPA vs GCAD | |
| Procure Space ETF | 41 | 1.12B | Apr 2019 | PPA vs UFO | |
| Pacer Solactive Whitney Future of Warfare ETF | 36 | 15.56M | Dec 2024 | PPA vs FOWF | |
| iShares U.S. Aerospace & Defense ETF | 34 | 14.23B | May 2006 | PPA vs ITA | |
| SPDR S&P Aerospace & Defense ETF | 30 | 6.22B | Sep 2011 | PPA vs XAR |
Top Performing PPA Alternatives (YTD)
PPA is at 9.74% YTD. There are 5 ETFs in the Aerospace & Defense category with higher YTD returns, going as high as 18.55%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Procure Space ETF | 18.55% | 1.12B | Apr 2019 | PPA vs UFO | |
| Truth Social American Security & Defense ETF | 17.89% | 12.67M | Dec 2025 | PPA vs TSSD | |
| Gabelli Commercial Aerospace & Defense ETF | 17.16% | 24.90M | Jan 2023 | PPA vs GCAD | |
| Direxion Daily Aerospace & Defense Bull 3X Shares | 13.11% | 390.92M | May 2017 | PPA vs DFEN | |
| SPDR S&P Aerospace & Defense ETF | 10.57% | 6.22B | Sep 2011 | PPA vs XAR |
Lowest Volatility Alternatives to PPA
PPA has 20.44% 1-year volatility. There is 1 ETF in the Aerospace & Defense category with lower 1-year volatility, going as low as 14.61%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Pacer Solactive Whitney Future of Warfare ETF | 14.61% | 15.56M | Dec 2024 | PPA vs FOWF | |
| Gabelli Commercial Aerospace & Defense ETF | 20.64% | 24.90M | Jan 2023 | PPA vs GCAD | |
| Themes Transatlantic Defense ETF | 21.76% | — | Oct 2024 | PPA vs NATO | |
| iShares U.S. Aerospace & Defense ETF | 22.06% | 14.23B | May 2006 | PPA vs ITA | |
| iShares Defense Industrials Active ETF | 22.50% | 4.11B | May 2025 | PPA vs IDEF |
Lowest Drawdown Alternatives to PPA
PPA has a 1-year max drawdown of -13.71%. There is 1 ETF in the Aerospace & Defense category with a shallower 1-year drawdown, going as shallow as -10.08%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Pacer Solactive Whitney Future of Warfare ETF | -10.08% | 15.56M | Dec 2024 | PPA vs FOWF | |
| Gabelli Commercial Aerospace & Defense ETF | -14.96% | 24.90M | Jan 2023 | PPA vs GCAD | |
| iShares Defense Industrials Active ETF | -15.69% | 4.11B | May 2025 | PPA vs IDEF | |
| iShares U.S. Aerospace & Defense ETF | -15.82% | 14.23B | May 2006 | PPA vs ITA | |
| Themes Transatlantic Defense ETF | -15.99% | — | Oct 2024 | PPA vs NATO |
Other ETFs from Invesco
The 10 most viewed Invesco ETFs shown here include QQQ, SPMO, QQQM and span 11 categories. AUM among these funds goes as high as $481B.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| Invesco QQQ ETF | Nasdaq-100 | 61 | 17.43% | 481.14B | Mar 1999 | PPA vs QQQ | |
| Invesco S&P 500 Momentum ETF | Momentum, S&P 500 | 65 | 28.67% | 22.01B | Oct 2015 | PPA vs SPMO | |
| Invesco NASDAQ 100 ETF | Nasdaq-100 | 61 | 17.45% | 100.59B | Oct 2020 | PPA vs QQQM | |
| Invesco S&P 500 Equal Weight ETF | S&P 500, Equal Weight | 56 | 12.34% | 96.24B | Apr 2003 | PPA vs RSP | |
| Invesco PHLX Semiconductor ETF | Semiconductors, Technology Equities | 93 | 79.01% | 2.58B | Jun 2021 | PPA vs SOXQ | |
| Invesco S&P 500 Top 50 ETF | S&P 500 | 41 | 4.48% | 10.85B | May 2005 | PPA vs XLG | |
| Invesco S&P 500 Quality ETF | S&P 500, Large Cap Blend Equities | 65 | 16.67% | 20.11B | Dec 2005 | PPA vs SPHQ | |
| Invesco S&P 500® High Dividend Low Volatility ETF | Dividend, S&P 500, Large Cap Value Equities | 36 | 11.04% | 3.29B | Oct 2012 | PPA vs SPHD | |
| Invesco S&P MidCap Momentum ETF | Momentum, Mid Cap Growth Equities | 51 | 16.50% | 7.45B | Mar 2005 | PPA vs XMMO | |
| Invesco S&P International Developed Momentum ETF | Momentum, Foreign Large Cap Equities | 45 | 9.24% | 3.99B | Feb 2012 | PPA vs IDMO |
Often Compared With PPA
Investors most often compare PPA with SHLD, SPY, FSDAX. These 20 comparison targets span 12 categories, based on PortfoliosLab usage data.
Compare PPA with Any Fund or Stock
Compare PPA with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair PPA with funds that move differently
Invesco Aerospace & Defense ETF alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to PPA.
Explore PPA Diversifiers