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BSCP vs. PPA
Performance
Return for Risk
Drawdowns
Volatility
Dividends

Performance

BSCP vs. PPA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco BulletShares 2025 Corporate Bond ETF (BSCP) and Invesco Aerospace & Defense ETF (PPA). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period


BSCP

1D
1M
YTD
6M
1Y
3Y*
5Y*
10Y*

PPA

1D
-0.40%
1M
0.55%
YTD
9.32%
6M
6.95%
1Y
25.86%
3Y*
28.61%
5Y*
18.19%
10Y*
17.74%
*Multi-year figures are annualized to reflect compound growth (CAGR)

BSCP vs. PPA - Yearly Performance Comparison


2026 (YTD)202520242023202220212020201920182017
BSCP
Invesco BulletShares 2025 Corporate Bond ETF
0.00%4.19%5.06%5.11%-5.99%-1.37%8.10%12.76%-1.90%5.75%
PPA
Invesco Aerospace & Defense ETF
9.32%37.15%25.28%18.41%9.52%7.09%0.45%39.63%-7.51%30.10%

Correlation

The correlation between BSCP and PPA is 0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.


Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.04

Correlation (3Y)
Calculated over the trailing 3-year period

0.09

Correlation (5Y)
Calculated over the trailing 5-year period

0.14

Correlation (10Y)
Calculated over the trailing 10-year period

0.07

Correlation (All Time)
Calculated using the full available price history since Oct 9, 2015

0.07

The correlation between BSCP and PPA shifts across timeframes, from 0.04 (1 year) to 0.14 (5 years), reflecting how their relationship changes across market environments.

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Return for Risk

BSCP vs. PPA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BSCP

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.


PPA
PPA Risk / Return Rank: 3939
Overall Rank
PPA Sharpe Ratio Rank: 4040
Sharpe Ratio Rank
PPA Sortino Ratio Rank: 4141
Sortino Ratio Rank
PPA Omega Ratio Rank: 3636
Omega Ratio Rank
PPA Calmar Ratio Rank: 4141
Calmar Ratio Rank
PPA Martin Ratio Rank: 3737
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BSCP vs. PPA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco BulletShares 2025 Corporate Bond ETF (BSCP) and Invesco Aerospace & Defense ETF (PPA). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.


BSCPPPADifference
Sharpe ratioReturn per unit of total volatility

Sortino ratioReturn per unit of downside risk

Omega ratioGain probability vs. loss probability

1.22

Calmar ratioReturn relative to maximum drawdown

1.90

Martin ratioReturn relative to average drawdown

5.24

BSCP vs. PPA - Sharpe Ratio Comparison


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Drawdowns

BSCP vs. PPA - Drawdown Comparison


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Drawdown Indicators


BSCPPPADifference

Max Drawdown

Largest peak-to-trough decline

-57.37%

Max Drawdown (1Y)

Largest decline over 1 year

-13.71%

Max Drawdown (3Y)

Largest decline over 3 years

-15.24%

Max Drawdown (5Y)

Largest decline over 5 years

-18.37%

Max Drawdown (10Y)

Largest decline over 10 years

-43.92%

Current Drawdown

Current decline from peak

-7.74%

Average Drawdown

Average peak-to-trough decline

-9.18%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.95%

Volatility

BSCP vs. PPA - Volatility Comparison


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Volatility by Period


BSCPPPADifference

Volatility (1M)

Calculated over the trailing 1-month period

8.30%

Volatility (6M)

Calculated over the trailing 6-month period

16.96%

Volatility (1Y)

Calculated over the trailing 1-year period

20.14%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.70%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.73%

BSCP vs. PPA - Expense Ratio Comparison

BSCP has a 0.10% expense ratio, which is lower than PPA's 0.58% expense ratio.


Dividends

BSCP vs. PPA - Dividend Comparison

BSCP's dividend yield for the trailing twelve months is around 1.92%, more than PPA's 0.37% yield.


PositionTTM20252024202320222021202020192018201720162015
BSCP
Invesco BulletShares 2025 Corporate Bond ETF
1.92%3.99%3.96%3.39%2.24%1.93%2.42%3.12%3.26%2.93%2.94%0.75%
PPA
Invesco Aerospace & Defense ETF
0.37%0.42%0.61%0.67%0.83%0.59%0.88%0.95%0.90%0.67%1.70%1.41%

Frequently Asked Questions


BSCP and PPA have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, BSCP is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.

BSCP is cheaper with a 0.10% expense ratio, compared with 0.58% for PPA.

BSCP has the higher dividend yield at 1.92%, compared with 0.37% for PPA.

BSCP is categorized as Corporate Bonds, while PPA is Aerospace & Defense. BSCP tracks NASDAQ BulletShares USD Corporate Bond 2025 Index, while PPA tracks SPADE Defense Index. Their fees differ too: 0.10% for BSCP and 0.58% for PPA.

Portfolio Optimizer

Find the right allocation for BSCP and PPA

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

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