BSJP vs. PPA

Last updated Jun 4, 2026

BSJP (Invesco BulletShares 2025 High Yield Corporate Bond ETF) and PPA (Invesco Aerospace & Defense ETF) are both exchange-traded funds - BSJP is a High Yield Bonds fund tracking the NASDAQ BulletShares USD High Yield Corporate Bond 2025 TR Index, while PPA is a Aerospace & Defense fund tracking the SPADE Defense Index. Both are passively managed. At a 0.48 correlation, their price movements are largely independent. BSJP charges 0.42%/yr vs 0.58%/yr for PPA.

Performance

BSJP vs. PPA - Performance Comparison

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

Returns By Period

BSJP

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

PPA

• 1D: -1.74%
• 1M: 3.19%
• YTD: 8.54%
• 6M: 13.46%
• 1Y: 26.57%
• 3Y*: 28.92%
• 5Y*: 17.82%
• 10Y*: 17.38%

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

BSJP vs. PPA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BSJP Invesco BulletShares 2025 High Yield Corporate Bond ETF	0.00%	4.46%	8.07%	10.41%	-5.16%	4.57%	4.16%	16.89%	-4.66%	0.35%
PPA Invesco Aerospace & Defense ETF	8.54%	37.15%	25.28%	18.41%	9.52%	7.09%	0.45%	39.63%	-7.51%	4.99%

Correlation

The correlation between BSJP and PPA is -0.03, 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	-0.03
Correlation (3Y) Calculated over the trailing 3-year period	0.30
Correlation (5Y) Calculated over the trailing 5-year period	0.44
Correlation (All Time) Calculated using the full available price history since Sep 28, 2017	0.48

The correlation between BSJP and PPA shifts across timeframes, from -0.03 (1 year) to 0.48 (all time), reflecting how their relationship changes across market environments.

BSJP vs. PPA - Sectors Allocation Comparison

Sectors	BSJP	PPA
Financial Services	95.2%	-
Industrials	4.7%	90.1%
Energy	0.1%	-
Basic Materials	-	-
Communication Services	-	0.1%
Consumer Cyclical	-	-
Consumer Defensive	-	-
Healthcare	-	-
Real Estate	-	-
Technology	-	9.8%
Utilities	-	-

Return for Risk

BSJP 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: 37
PPA Sharpe Ratio Rank: 38
PPA Sortino Ratio Rank: 39
PPA Omega Ratio Rank: 35
PPA Calmar Ratio Rank: 38
PPA Martin Ratio Rank: 36

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.

BSJP vs. PPA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco BulletShares 2025 High Yield Corporate Bond ETF (BSJP) 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

	BSJP	PPA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.40	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.97	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.84	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.66	—

Drawdowns

Drawdown Indicators

	BSJP	PPA	Difference
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	—	-8.40%	—
Average Drawdown Average peak-to-trough decline	—	-9.18%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	4.69%	—

Volatility

Volatility by Period

	BSJP	PPA	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	6.73%	—
Volatility (6M) Calculated over the trailing 6-month period	—	15.95%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	19.03%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	18.49%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	20.64%	—

BSJP vs. PPA - Expense Ratio Comparison

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

Dividends

BSJP vs. PPA - Dividend Comparison

BSJP's dividend yield for the trailing twelve months is around 2.26%, more than PPA's 0.39% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BSJP Invesco BulletShares 2025 High Yield Corporate Bond ETF	2.26%	4.50%	6.25%	7.07%	5.37%	4.27%	4.96%	5.49%	5.84%	1.32%	0.00%	0.00%
PPA Invesco Aerospace & Defense ETF	0.39%	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

Can I hold both BSJP and PPA in my portfolio?

BSJP and PPA have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BSJP or PPA?

On fees, BSJP 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, BSJP or PPA?

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

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

BSJP has the higher dividend yield at 2.26%, compared with 0.39% for PPA.

What is the main difference between BSJP and PPA?

BSJP is categorized as High Yield Bonds, while PPA is Aerospace & Defense. BSJP tracks NASDAQ BulletShares USD High Yield Corporate Bond 2025 TR Index, while PPA tracks SPADE Defense Index. Their fees differ too: 0.42% for BSJP and 0.58% for PPA.