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PPA vs. DFEN
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Correlation

The correlation between PPA and DFEN is 0.67, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.


-0.50.00.51.0
Correlation: 0.7

Performance

PPA vs. DFEN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Aerospace & Defense ETF (PPA) and Direxion Daily Aerospace & Defense Bull 3X Shares (DFEN). The values are adjusted to include any dividend payments, if applicable.

0.00%50.00%100.00%150.00%200.00%NovemberDecember2025FebruaryMarchApril
183.12%
41.61%
PPA
DFEN

Key characteristics

Sharpe Ratio

PPA:

0.99

DFEN:

0.47

Sortino Ratio

PPA:

1.47

DFEN:

1.06

Omega Ratio

PPA:

1.21

DFEN:

1.15

Calmar Ratio

PPA:

1.34

DFEN:

0.48

Martin Ratio

PPA:

4.75

DFEN:

2.44

Ulcer Index

PPA:

4.30%

DFEN:

12.85%

Daily Std Dev

PPA:

20.68%

DFEN:

66.82%

Max Drawdown

PPA:

-57.37%

DFEN:

-91.36%

Current Drawdown

PPA:

-4.47%

DFEN:

-52.54%

Returns By Period

The year-to-date returns for both investments are quite close, with PPA having a 3.39% return and DFEN slightly higher at 3.53%.


PPA

YTD

3.39%

1M

-2.02%

6M

2.16%

1Y

19.50%

5Y*

18.82%

10Y*

13.67%

DFEN

YTD

3.53%

1M

-18.27%

6M

-8.37%

1Y

31.54%

5Y*

26.55%

10Y*

N/A

*Annualized

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PPA vs. DFEN - Expense Ratio Comparison

PPA has a 0.61% expense ratio, which is lower than DFEN's 0.99% expense ratio.


Expense ratio chart for DFEN: current value is 0.99%, compared with the broader market range of 0.00% to 2.12%.0.50%1.00%1.50%2.00%
DFEN: 0.99%
Expense ratio chart for PPA: current value is 0.61%, compared with the broader market range of 0.00% to 2.12%.0.50%1.00%1.50%2.00%
PPA: 0.61%

Risk-Adjusted Performance

PPA vs. DFEN — Risk-Adjusted Performance Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PPA
The Risk-Adjusted Performance Rank of PPA is 8383
Overall Rank
The Sharpe Ratio Rank of PPA is 8080
Sharpe Ratio Rank
The Sortino Ratio Rank of PPA is 8181
Sortino Ratio Rank
The Omega Ratio Rank of PPA is 8282
Omega Ratio Rank
The Calmar Ratio Rank of PPA is 8888
Calmar Ratio Rank
The Martin Ratio Rank of PPA is 8484
Martin Ratio Rank

DFEN
The Risk-Adjusted Performance Rank of DFEN is 6565
Overall Rank
The Sharpe Ratio Rank of DFEN is 5757
Sharpe Ratio Rank
The Sortino Ratio Rank of DFEN is 6969
Sortino Ratio Rank
The Omega Ratio Rank of DFEN is 7070
Omega Ratio Rank
The Calmar Ratio Rank of DFEN is 6262
Calmar Ratio Rank
The Martin Ratio Rank of DFEN is 6767
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

PPA vs. DFEN - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Aerospace & Defense ETF (PPA) and Direxion Daily Aerospace & Defense Bull 3X Shares (DFEN). 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.


The chart of Sharpe ratio for PPA, currently valued at 0.99, compared to the broader market-1.000.001.002.003.004.00
PPA: 0.99
DFEN: 0.47
The chart of Sortino ratio for PPA, currently valued at 1.47, compared to the broader market-2.000.002.004.006.008.00
PPA: 1.47
DFEN: 1.06
The chart of Omega ratio for PPA, currently valued at 1.21, compared to the broader market0.501.001.502.002.50
PPA: 1.21
DFEN: 1.15
The chart of Calmar ratio for PPA, currently valued at 1.34, compared to the broader market0.002.004.006.008.0010.0012.00
PPA: 1.34
DFEN: 0.48
The chart of Martin ratio for PPA, currently valued at 4.75, compared to the broader market0.0020.0040.0060.00
PPA: 4.75
DFEN: 2.44

The current PPA Sharpe Ratio is 0.99, which is higher than the DFEN Sharpe Ratio of 0.47. The chart below compares the historical Sharpe Ratios of PPA and DFEN, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.


Rolling 12-month Sharpe Ratio0.001.002.003.004.00NovemberDecember2025FebruaryMarchApril
0.99
0.47
PPA
DFEN

Dividends

PPA vs. DFEN - Dividend Comparison

PPA's dividend yield for the trailing twelve months is around 0.53%, less than DFEN's 13.48% yield.


TTM20242023202220212020201920182017201620152014
PPA
Invesco Aerospace & Defense ETF
0.53%0.61%0.67%0.83%0.59%0.88%0.95%0.90%0.67%1.70%1.41%0.62%
DFEN
Direxion Daily Aerospace & Defense Bull 3X Shares
13.48%14.12%1.13%0.46%1.89%0.48%0.50%1.07%1.46%0.00%0.00%0.00%

Drawdowns

PPA vs. DFEN - Drawdown Comparison

The maximum PPA drawdown since its inception was -57.37%, smaller than the maximum DFEN drawdown of -91.36%. Use the drawdown chart below to compare losses from any high point for PPA and DFEN. For additional features, visit the drawdowns tool.


-70.00%-60.00%-50.00%-40.00%-30.00%-20.00%-10.00%0.00%NovemberDecember2025FebruaryMarchApril
-4.47%
-52.54%
PPA
DFEN

Volatility

PPA vs. DFEN - Volatility Comparison

The current volatility for Invesco Aerospace & Defense ETF (PPA) is 13.65%, while Direxion Daily Aerospace & Defense Bull 3X Shares (DFEN) has a volatility of 44.57%. This indicates that PPA experiences smaller price fluctuations and is considered to be less risky than DFEN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


0.00%10.00%20.00%30.00%40.00%NovemberDecember2025FebruaryMarchApril
13.65%
44.57%
PPA
DFEN