ITA vs. PPA
Compare and contrast key facts about iShares U.S. Aerospace & Defense ETF (ITA) and Invesco Aerospace & Defense ETF (PPA).
ITA and PPA are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ITA is a passively managed fund by iShares that tracks the performance of the Dow Jones U.S. Select Aerospace & Defense Index. It was launched on May 5, 2006. PPA is a passively managed fund by Invesco that tracks the performance of the SPADE Defense Index. It was launched on Oct 26, 2005. Both ITA and PPA are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: ITA or PPA.
Performance
ITA vs. PPA - Performance Comparison
Returns By Period
In the year-to-date period, ITA achieves a 21.49% return, which is significantly lower than PPA's 30.20% return. Over the past 10 years, ITA has underperformed PPA with an annualized return of 11.61%, while PPA has yielded a comparatively higher 14.37% annualized return.
ITA
21.49%
1.59%
14.41%
30.84%
6.94%
11.61%
PPA
30.20%
1.92%
15.04%
38.04%
12.54%
14.37%
Key characteristics
| ITA | PPA | |
|---|---|---|
| Sharpe Ratio | 2.10 | 2.73 |
| Sortino Ratio | 2.81 | 3.62 |
| Omega Ratio | 1.40 | 1.50 |
| Calmar Ratio | 4.42 | 6.51 |
| Martin Ratio | 13.61 | 21.18 |
| Ulcer Index | 2.33% | 1.82% |
| Daily Std Dev | 15.08% | 14.15% |
| Max Drawdown | -59.72% | -57.37% |
| Current Drawdown | -2.79% | -3.98% |
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ITA vs. PPA - Expense Ratio Comparison
ITA has a 0.42% expense ratio, which is lower than PPA's 0.61% expense ratio.
Correlation
The correlation between ITA and PPA is 0.96, 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.
Risk-Adjusted Performance
ITA vs. PPA - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Aerospace & Defense ETF (ITA) 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.
Dividends
ITA vs. PPA - Dividend Comparison
ITA's dividend yield for the trailing twelve months is around 0.80%, more than PPA's 0.55% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ITA iShares U.S. Aerospace & Defense ETF | 0.80% | 0.93% | 0.95% | 0.82% | 1.07% | 1.54% | 1.13% | 0.91% | 1.07% | 1.04% | 1.21% | 1.13% |
PPA Invesco Aerospace & Defense ETF | 0.55% | 0.67% | 0.83% | 0.59% | 0.88% | 0.95% | 0.90% | 0.67% | 1.70% | 1.41% | 0.62% | 1.26% |
Drawdowns
ITA vs. PPA - Drawdown Comparison
The maximum ITA drawdown since its inception was -59.72%, roughly equal to the maximum PPA drawdown of -57.37%. Use the drawdown chart below to compare losses from any high point for ITA and PPA. For additional features, visit the drawdowns tool.
Volatility
ITA vs. PPA - Volatility Comparison
iShares U.S. Aerospace & Defense ETF (ITA) and Invesco Aerospace & Defense ETF (PPA) have volatilities of 6.88% and 6.69%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.