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

Correlation

The correlation between PPA and DFEN 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.


-0.50.00.51.01.0

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%JulyAugustSeptemberOctoberNovemberDecember
176.63%
40.39%
PPA
DFEN

Key characteristics

Sharpe Ratio

PPA:

2.03

DFEN:

0.81

Sortino Ratio

PPA:

2.72

DFEN:

1.29

Omega Ratio

PPA:

1.37

DFEN:

1.17

Calmar Ratio

PPA:

3.50

DFEN:

0.55

Martin Ratio

PPA:

13.06

DFEN:

4.55

Ulcer Index

PPA:

2.27%

DFEN:

8.40%

Daily Std Dev

PPA:

14.62%

DFEN:

47.32%

Max Drawdown

PPA:

-57.37%

DFEN:

-91.36%

Current Drawdown

PPA:

-6.66%

DFEN:

-52.95%

Returns By Period

In the year-to-date period, PPA achieves a 26.56% return, which is significantly lower than DFEN's 30.43% return.


PPA

YTD

26.56%

1M

-1.92%

6M

12.09%

1Y

28.06%

5Y*

11.95%

10Y*

13.80%

DFEN

YTD

30.43%

1M

-11.32%

6M

16.06%

1Y

34.49%

5Y*

-10.56%

10Y*

N/A

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Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.


PPA vs. DFEN - Expense Ratio Comparison

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


DFEN
Direxion Daily Aerospace & Defense Bull 3X Shares
Expense ratio chart for DFEN: current value at 0.99% compared with the broader market ranging from 0.00% to 2.12%.0.50%1.00%1.50%2.00%0.99%
Expense ratio chart for PPA: current value at 0.61% compared with the broader market ranging from 0.00% to 2.12%.0.50%1.00%1.50%2.00%0.61%

Risk-Adjusted Performance

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.


Sharpe ratio
The chart of Sharpe ratio for PPA, currently valued at 2.03, compared to the broader market0.002.004.002.030.81
The chart of Sortino ratio for PPA, currently valued at 2.72, compared to the broader market-2.000.002.004.006.008.0010.002.721.29
The chart of Omega ratio for PPA, currently valued at 1.37, compared to the broader market0.501.001.502.002.503.001.371.17
The chart of Calmar ratio for PPA, currently valued at 3.50, compared to the broader market0.005.0010.0015.003.500.55
The chart of Martin ratio for PPA, currently valued at 13.06, compared to the broader market0.0020.0040.0060.0080.00100.0013.064.55
PPA
DFEN

The current PPA Sharpe Ratio is 2.03, which is higher than the DFEN Sharpe Ratio of 0.81. 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 Ratio0.501.001.502.002.503.003.504.00JulyAugustSeptemberOctoberNovemberDecember
2.03
0.81
PPA
DFEN

Dividends

PPA vs. DFEN - Dividend Comparison

PPA's dividend yield for the trailing twelve months is around 0.33%, less than DFEN's 13.38% yield.


TTM20232022202120202019201820172016201520142013
PPA
Invesco Aerospace & Defense ETF
0.33%0.67%0.83%0.59%0.88%0.95%0.90%0.67%1.70%1.41%0.62%1.26%
DFEN
Direxion Daily Aerospace & Defense Bull 3X Shares
13.38%1.13%0.46%1.89%0.48%0.50%1.07%1.46%0.00%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.


-60.00%-50.00%-40.00%-30.00%-20.00%-10.00%0.00%JulyAugustSeptemberOctoberNovemberDecember
-6.66%
-52.95%
PPA
DFEN

Volatility

PPA vs. DFEN - Volatility Comparison

The current volatility for Invesco Aerospace & Defense ETF (PPA) is 5.17%, while Direxion Daily Aerospace & Defense Bull 3X Shares (DFEN) has a volatility of 17.65%. 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.


5.00%10.00%15.00%20.00%JulyAugustSeptemberOctoberNovemberDecember
5.17%
17.65%
PPA
DFEN
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Disclaimer

The information contained herein does not constitute investment advice and made available for educational purposes only. Prices and returns on equities are listed without consideration of fees, commissions, taxes, penalties, or interest payable due to purchasing, holding, or selling.

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