BSJO vs. PPA

Last updated Jun 5, 2026

BSJO (Invesco BulletShares 2024 High Yield Corporate Bond ETF) and PPA (Invesco Aerospace & Defense ETF) are both exchange-traded funds - BSJO is a High Yield Bonds fund tracking the NASDAQ BulletShares USD High Yield Corporate Bond 2024 TR Index, while PPA is a Aerospace & Defense fund tracking the SPADE Defense Index. Both are passively managed. BSJO charges 0.42%/yr vs 0.58%/yr for PPA.

Performance

BSJO vs. PPA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco BulletShares 2024 High Yield Corporate Bond ETF (BSJO) and Invesco Aerospace & Defense ETF (PPA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

BSJO

• 1D: 0.00%
• 1M: 0.00%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

PPA

• 1D: 2.10%
• 1M: 5.79%
• YTD: 10.82%
• 6M: 14.31%
• 1Y: 28.82%
• 3Y*: 30.12%
• 5Y*: 18.31%
• 10Y*: 17.53%

*Multi-year figures are annualized to reflect compound growth (CAGR)

BSJO vs. PPA - Yearly Performance Comparison

	2026 (YTD)
BSJO Invesco BulletShares 2024 High Yield Corporate Bond ETF	0.00%
PPA Invesco Aerospace & Defense ETF	-0.96%

Return for Risk

BSJO vs. PPA — Risk / Return Rank

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

PPA

PPA Risk / Return Rank: 43
PPA Sharpe Ratio Rank: 44
PPA Sortino Ratio Rank: 45
PPA Omega Ratio Rank: 41
PPA Calmar Ratio Rank: 44
PPA Martin Ratio Rank: 40

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.

BSJO vs. PPA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco BulletShares 2024 High Yield Corporate Bond ETF (BSJO) 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.

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

Sharpe Ratios by Period

	BSJO	PPA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.51	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.99	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.85	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.66	—

Drawdowns

BSJO vs. PPA - Drawdown Comparison

The maximum BSJO drawdown since its inception was 0.00%, smaller than the maximum PPA drawdown of -57.37%. Use the drawdown chart below to compare losses from any high point for BSJO and PPA.

Drawdown Indicators

	BSJO	PPA	Difference
Max Drawdown Largest peak-to-trough decline	0.00%	-57.37%	+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	0.00%	-6.47%	+6.47%
Average Drawdown Average peak-to-trough decline	0.00%	-9.18%	+9.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	4.70%	—

Volatility

Volatility by Period

	BSJO	PPA	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	6.97%	—
Volatility (6M) Calculated over the trailing 6-month period	—	16.05%	—
Volatility (1Y) Calculated over the trailing 1-year period	0.00%	19.12%	-19.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.00%	18.51%	-18.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.00%	20.64%	-20.64%

BSJO vs. PPA - Expense Ratio Comparison

BSJO has a 0.42% expense ratio, which is lower than PPA's 0.58% expense ratio.

Dividends

BSJO vs. PPA - Dividend Comparison

BSJO has not paid dividends to shareholders, while PPA's dividend yield for the trailing twelve months is around 0.38%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BSJO Invesco BulletShares 2024 High Yield Corporate Bond ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PPA Invesco Aerospace & Defense ETF	0.38%	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

Which ETF is better, BSJO or PPA?

On fees, BSJO is cheaper at 0.42% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BSJO or PPA?

BSJO is cheaper with a 0.42% expense ratio, compared with 0.58% for PPA.

Which ETF pays a higher dividend yield, BSJO or PPA?

PPA has the higher dividend yield at 0.38%, compared with 0.00% for BSJO.

What is the main difference between BSJO and PPA?

BSJO is categorized as High Yield Bonds, while PPA is Aerospace & Defense. BSJO tracks NASDAQ BulletShares USD High Yield Corporate Bond 2024 TR Index, while PPA tracks SPADE Defense Index. Their fees differ too: 0.42% for BSJO and 0.58% for PPA.