FTRNX vs. PPA
Compare and contrast key facts about Fidelity Trend Fund (FTRNX) and Invesco Aerospace & Defense ETF (PPA).
FTRNX is managed by Fidelity. It was launched on Jun 16, 1958. PPA is a passively managed fund by Invesco that tracks the performance of the SPADE Defense Index. It was launched on Oct 26, 2005.
Performance
FTRNX vs. PPA - Performance Comparison
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FTRNX vs. PPA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FTRNX Fidelity Trend Fund | -6.17% | 18.77% | 40.43% | 44.39% | -33.66% | 22.86% | 47.01% | 36.12% | -5.48% | 29.09% |
PPA Invesco Aerospace & Defense ETF | 8.35% | 37.15% | 25.28% | 18.41% | 9.52% | 7.09% | 0.45% | 39.63% | -7.51% | 30.10% |
Returns By Period
In the year-to-date period, FTRNX achieves a -6.17% return, which is significantly lower than PPA's 8.35% return. Over the past 10 years, FTRNX has underperformed PPA with an annualized return of 16.94%, while PPA has yielded a comparatively higher 17.98% annualized return.
FTRNX
- 1D
- 4.62%
- 1M
- -7.70%
- YTD
- -6.17%
- 6M
- -6.35%
- 1Y
- 26.84%
- 3Y*
- 24.30%
- 5Y*
- 12.88%
- 10Y*
- 16.94%
PPA
- 1D
- 2.39%
- 1M
- -8.56%
- YTD
- 8.35%
- 6M
- 8.97%
- 1Y
- 45.28%
- 3Y*
- 28.92%
- 5Y*
- 19.15%
- 10Y*
- 17.98%
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FTRNX vs. PPA - Expense Ratio Comparison
FTRNX has a 0.73% expense ratio, which is higher than PPA's 0.61% expense ratio.
Return for Risk
FTRNX vs. PPA — Risk / Return Rank
FTRNX
PPA
FTRNX vs. PPA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Trend Fund (FTRNX) 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.
| FTRNX | PPA | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.08 | 2.09 | -1.01 |
Sortino ratioReturn per unit of downside risk | 1.64 | 2.80 | -1.16 |
Omega ratioGain probability vs. loss probability | 1.23 | 1.39 | -0.16 |
Calmar ratioReturn relative to maximum drawdown | 1.88 | 3.37 | -1.49 |
Martin ratioReturn relative to average drawdown | 6.44 | 13.40 | -6.96 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FTRNX | PPA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.08 | 2.09 | -1.01 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.49 | 1.06 | -0.56 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.71 | 0.88 | -0.17 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.54 | 0.66 | -0.12 |
Correlation
The correlation between FTRNX and PPA is 0.72, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
FTRNX vs. PPA - Dividend Comparison
FTRNX's dividend yield for the trailing twelve months is around 6.85%, more than PPA's 0.39% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FTRNX Fidelity Trend Fund | 6.85% | 8.23% | 15.26% | 4.69% | 5.34% | 7.80% | 4.44% | 9.65% | 8.30% | 8.62% | 5.25% | 6.44% |
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% |
Drawdowns
FTRNX vs. PPA - Drawdown Comparison
The maximum FTRNX drawdown since its inception was -56.26%, roughly equal to the maximum PPA drawdown of -57.37%. Use the drawdown chart below to compare losses from any high point for FTRNX and PPA.
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Drawdown Indicators
| FTRNX | PPA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.26% | -57.37% | +1.11% |
Max Drawdown (1Y)Largest decline over 1 year | -14.92% | -13.71% | -1.21% |
Max Drawdown (5Y)Largest decline over 5 years | -39.05% | -18.37% | -20.68% |
Max Drawdown (10Y)Largest decline over 10 years | -39.05% | -43.92% | +4.87% |
Current DrawdownCurrent decline from peak | -11.00% | -8.56% | -2.44% |
Average DrawdownAverage peak-to-trough decline | -10.58% | -9.19% | -1.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.36% | 3.45% | +0.91% |
Volatility
FTRNX vs. PPA - Volatility Comparison
Fidelity Trend Fund (FTRNX) has a higher volatility of 8.93% compared to Invesco Aerospace & Defense ETF (PPA) at 7.57%. This indicates that FTRNX'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
| FTRNX | PPA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.93% | 7.57% | +1.36% |
Volatility (6M)Calculated over the trailing 6-month period | 16.06% | 15.14% | +0.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.47% | 21.75% | +4.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.30% | 18.22% | +8.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.91% | 20.48% | +3.43% |