ESLT vs. PPA
ESLT (Elbit Systems Ltd) is a stock, while PPA (Invesco Aerospace & Defense ETF) is Aerospace & Defense fund tracking the SPADE Defense Index. Over the past 10 years, ESLT returned 23.92%/yr vs 17.00%/yr for PPA. Their 0.40 correlation means their historical movements had little consistent relationship.
Performance
ESLT vs. PPA - Performance Comparison
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Returns By Period
In the year-to-date period, ESLT achieves a 33.45% return, which is significantly higher than PPA's 9.24% return. Over the past 10 years, ESLT has outperformed PPA with an annualized return of 23.92%, while PPA has yielded a comparatively lower 17.00% annualized return.
ESLT
- 1D
- -6.05%
- 1M
- 4.97%
- 6M
- 5.49%
- YTD
- 33.45%
- 1Y
- 70.35%
- 3Y*
- 56.91%
- 5Y*
- 43.37%
- 10Y*
- 23.92%
- ALL TIME*
- 21.91%
PPA
- 1D
- -3.79%
- 1M
- -1.21%
- 6M
- -2.64%
- YTD
- 9.24%
- 1Y
- 17.34%
- 3Y*
- 27.01%
- 5Y*
- 18.69%
- 10Y*
- 17.00%
- ALL TIME*
- 13.51%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $61.68M | $61.53M | $84.15M | |
| $33.44M | $31.67M | $37.83M |
ESLT vs. PPA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ESLT Elbit Systems Ltd | 33.45% | 125.14% | 22.17% | 31.30% | -4.82% | 34.77% | -14.56% | 37.62% | -13.22% | 32.65% |
PPA Invesco Aerospace & Defense ETF | 9.24% | 37.15% | 25.28% | 18.41% | 9.52% | 7.09% | 0.45% | 39.63% | -7.51% | 30.10% |
Correlation
The correlation between ESLT and PPA is 0.59, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.59 |
Correlation (3Y) Balances recent behavior with more history. | 0.45 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.43 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.41 |
Correlation (All Time) Calculated using the full available price history since Oct 26, 2005 | 0.40 |
The correlation between ESLT and PPA shifts across timeframes, from 0.40 (all time) to 0.59 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
ESLT vs. PPA — Risk / Return Rank
ESLT
PPA
ESLT vs. PPA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Elbit Systems Ltd (ESLT) 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.
| ESLT | PPA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.73 | ||
| Sortino ratioReturn per unit of downside risk | +1.11 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.15 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 2.42 | 1.27 | +1.15 |
| Martin ratioReturn relative to average drawdown | 5.65 | 3.25 | +2.40 |
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Drawdowns
ESLT vs. PPA - Drawdown Comparison
The maximum ESLT drawdown since its inception was -53.79%, smaller than the maximum PPA drawdown of -57.37%. Use the drawdown chart below to compare losses from any high point for ESLT and PPA.
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Drawdown Indicators
| ESLT | PPA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.79% | -57.37% | +3.58% |
Max Drawdown (1Y)Largest decline over 1 year | -29.27% | -13.71% | -15.56% |
Max Drawdown (3Y)Largest decline over 3 years | -29.27% | -15.24% | -14.03% |
Max Drawdown (5Y)Largest decline over 5 years | -32.89% | -18.37% | -14.52% |
Max Drawdown (10Y)Largest decline over 10 years | -32.89% | -43.92% | +11.03% |
Current DrawdownCurrent decline from peak | -24.00% | -7.81% | -16.19% |
Average DrawdownAverage peak-to-trough decline | -13.95% | -9.16% | -4.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.50% | 5.35% | +7.15% |
Volatility
ESLT vs. PPA - Volatility Comparison
Elbit Systems Ltd (ESLT) has a higher volatility of 11.93% compared to Invesco Aerospace & Defense ETF (PPA) at 6.96%. This indicates that ESLT's price experiences larger fluctuations and is considered to be riskier 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
| ESLT | PPA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.93% | 6.96% | +4.97% |
Volatility (6M)Calculated over the trailing 6-month period | 36.83% | 16.83% | +20.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 45.03% | 20.83% | +24.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.05% | 18.76% | +15.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.69% | 20.79% | +8.90% |
Dividends
ESLT vs. PPA - Dividend Comparison
ESLT's dividend yield for the trailing twelve months is around 0.46%, more than PPA's 0.37% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ESLT Elbit Systems Ltd | 0.46% | 0.47% | 0.77% | 0.94% | 1.22% | 1.03% | 1.28% | 1.14% | 1.54% | 1.32% | 1.57% | 1.63% |
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
ESLT and PPA have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ESLT has higher volatility (11.93%) compared to PPA (6.96%). In terms of maximum drawdown, ESLT dropped -53.79% vs PPA's -57.37%.
ESLT currently has the higher Sharpe Ratio (1.57 vs 0.84), 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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