BSJU vs. PPA
BSJU (Invesco Bulletshares 2030 High Yield Corporate Bond ETF) and PPA (Invesco Aerospace & Defense ETF) are both exchange-traded funds - BSJU is a High Yield Bonds fund tracking the Invesco BulletShares High Yield Corporate Bond 2030 Index, while PPA is a Aerospace & Defense fund tracking the SPADE Defense Index. Both are passively managed. Over the past 3 years, BSJU returned 9.06%/yr vs 28.78%/yr for PPA. A 0.52 correlation means they provide meaningful diversification when combined. BSJU charges 0.42%/yr vs 0.58%/yr for PPA.
Performance
BSJU vs. PPA - Performance Comparison
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Returns By Period
In the year-to-date period, BSJU achieves a 1.91% return, which is significantly lower than PPA's 9.76% return.
BSJU
- 1D
- 0.00%
- 1M
- 0.69%
- YTD
- 1.91%
- 6M
- 2.02%
- 1Y
- 6.57%
- 3Y*
- 9.06%
- 5Y*
- —
- 10Y*
- —
PPA
- 1D
- -0.53%
- 1M
- 0.95%
- YTD
- 9.76%
- 6M
- 7.56%
- 1Y
- 26.02%
- 3Y*
- 28.78%
- 5Y*
- 18.41%
- 10Y*
- 17.79%
BSJU vs. PPA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
BSJU Invesco Bulletshares 2030 High Yield Corporate Bond ETF | 1.91% | 8.58% | 8.20% | 12.91% | -2.11% |
PPA Invesco Aerospace & Defense ETF | 9.76% | 37.15% | 25.28% | 18.41% | 9.87% |
Correlation
The correlation between BSJU and PPA is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.51 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.50 |
Correlation (All Time) Calculated using the full available price history since Sep 8, 2022 | 0.52 |
The correlation between BSJU and PPA has been stable across timeframes, ranging from 0.50 to 0.52 - a consistent structural relationship.
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Return for Risk
BSJU vs. PPA — Risk / Return Rank
BSJU
PPA
BSJU vs. PPA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Bulletshares 2030 High Yield Corporate Bond ETF (BSJU) 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.
| BSJU | PPA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.37 | ||
| Sortino ratioReturn per unit of downside risk | +0.58 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.23 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 2.61 | 1.91 | +0.70 |
| Martin ratioReturn relative to average drawdown | 12.07 | 5.29 | +6.77 |
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Drawdowns
BSJU vs. PPA - Drawdown Comparison
The maximum BSJU drawdown since its inception was -7.51%, smaller than the maximum PPA drawdown of -57.37%. Use the drawdown chart below to compare losses from any high point for BSJU and PPA.
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Drawdown Indicators
| BSJU | PPA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -7.51% | -57.37% | +49.86% |
Max Drawdown (1Y)Largest decline over 1 year | -2.53% | -13.71% | +11.18% |
Max Drawdown (3Y)Largest decline over 3 years | -5.12% | -15.24% | +10.12% |
Max Drawdown (5Y)Largest decline over 5 years | — | -18.37% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -43.92% | — |
Current DrawdownCurrent decline from peak | -0.14% | -7.37% | +7.23% |
Average DrawdownAverage peak-to-trough decline | -1.07% | -9.18% | +8.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.55% | 4.93% | -4.38% |
Volatility
BSJU vs. PPA - Volatility Comparison
The current volatility for Invesco Bulletshares 2030 High Yield Corporate Bond ETF (BSJU) is 1.04%, while Invesco Aerospace & Defense ETF (PPA) has a volatility of 8.40%. This indicates that BSJU experiences smaller price fluctuations and is considered to be less risky than PPA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BSJU | PPA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.04% | 8.40% | -7.36% |
Volatility (6M)Calculated over the trailing 6-month period | 3.12% | 17.09% | -13.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.95% | 20.15% | -16.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.86% | 18.70% | -10.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.86% | 20.73% | -12.87% |
BSJU vs. PPA - Expense Ratio Comparison
BSJU has a 0.42% expense ratio, which is lower than PPA's 0.58% expense ratio.
Dividends
BSJU vs. PPA - Dividend Comparison
BSJU's dividend yield for the trailing twelve months is around 6.65%, more than PPA's 0.37% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BSJU Invesco Bulletshares 2030 High Yield Corporate Bond ETF | 6.65% | 6.52% | 7.08% | 6.74% | 2.38% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
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
BSJU and PPA have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PPA has higher volatility (8.40%) compared to BSJU (1.04%). In terms of maximum drawdown, BSJU dropped -7.51% vs PPA's -57.37%.
On 3-year performance, PPA leads with 28.78% vs 9.06% for BSJU. On fees, BSJU is cheaper at 0.42% per year. On volatility, BSJU has been the lower-risk option at 1.04%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, PPA has performed better with a 28.78% return vs 9.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BSJU is cheaper with a 0.42% expense ratio, compared with 0.58% for PPA.
BSJU has the higher dividend yield at 6.65%, compared with 0.37% for PPA.
BSJU is categorized as High Yield Bonds, while PPA is Aerospace & Defense. BSJU tracks Invesco BulletShares High Yield Corporate Bond 2030 Index, while PPA tracks SPADE Defense Index. Their fees differ too: 0.42% for BSJU and 0.58% for PPA.
BSJU currently has the higher Sharpe Ratio (1.67 vs 1.30), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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