IYJ vs. PPA
Compare and contrast key facts about iShares U.S. Industrials ETF (IYJ) and Invesco Aerospace & Defense ETF (PPA).
IYJ and PPA are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IYJ is a passively managed fund by iShares that tracks the performance of the Dow Jones U.S. Industrials Index. It was launched on Jul 14, 2000. 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 IYJ 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: IYJ or PPA.
Performance
IYJ vs. PPA - Performance Comparison
Returns By Period
In the year-to-date period, IYJ achieves a 25.31% return, which is significantly lower than PPA's 31.82% return. Over the past 10 years, IYJ has underperformed PPA with an annualized return of 11.53%, while PPA has yielded a comparatively higher 14.47% annualized return.
IYJ
25.31%
5.33%
16.19%
36.00%
12.60%
11.53%
PPA
31.82%
3.31%
15.13%
39.76%
12.81%
14.47%
Key characteristics
| IYJ | PPA | |
|---|---|---|
| Sharpe Ratio | 2.71 | 2.80 |
| Sortino Ratio | 3.79 | 3.70 |
| Omega Ratio | 1.47 | 1.51 |
| Calmar Ratio | 5.88 | 6.71 |
| Martin Ratio | 15.54 | 21.71 |
| Ulcer Index | 2.32% | 1.83% |
| Daily Std Dev | 13.29% | 14.19% |
| Max Drawdown | -61.97% | -57.37% |
| Current Drawdown | -0.33% | -2.78% |
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IYJ vs. PPA - Expense Ratio Comparison
IYJ has a 0.42% expense ratio, which is lower than PPA's 0.61% expense ratio.
Correlation
The correlation between IYJ and PPA is 0.89, 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
IYJ vs. PPA - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Industrials ETF (IYJ) 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
IYJ vs. PPA - Dividend Comparison
IYJ's dividend yield for the trailing twelve months is around 0.82%, more than PPA's 0.54% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IYJ iShares U.S. Industrials ETF | 0.82% | 1.05% | 1.05% | 0.76% | 1.01% | 1.32% | 1.43% | 1.29% | 1.38% | 1.53% | 1.46% | 1.14% |
PPA Invesco Aerospace & Defense ETF | 0.54% | 0.67% | 0.83% | 0.59% | 0.88% | 0.95% | 0.90% | 0.67% | 1.70% | 1.41% | 0.62% | 1.26% |
Drawdowns
IYJ vs. PPA - Drawdown Comparison
The maximum IYJ drawdown since its inception was -61.97%, which is greater than PPA's maximum drawdown of -57.37%. Use the drawdown chart below to compare losses from any high point for IYJ and PPA. For additional features, visit the drawdowns tool.
Volatility
IYJ vs. PPA - Volatility Comparison
The current volatility for iShares U.S. Industrials ETF (IYJ) is 5.30%, while Invesco Aerospace & Defense ETF (PPA) has a volatility of 6.74%. This indicates that IYJ 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.