PPA vs. DFEN
Compare and contrast key facts about Invesco Aerospace & Defense ETF (PPA) and Direxion Daily Aerospace & Defense Bull 3X Shares (DFEN).
PPA and DFEN are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PPA is a passively managed fund by Invesco that tracks the performance of the SPADE Defense Index. It was launched on Oct 26, 2005. DFEN is a passively managed fund by Direxion that tracks the performance of the Dow Jones U.S. Select Aerospace & Defense Index (300%). It was launched on May 3, 2017. Both PPA and DFEN 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: PPA or DFEN.
Performance
PPA vs. DFEN - Performance Comparison
Returns By Period
In the year-to-date period, PPA achieves a 28.26% return, which is significantly lower than DFEN's 45.50% return.
PPA
28.26%
-1.27%
11.67%
36.39%
12.19%
14.27%
DFEN
45.50%
-9.73%
22.47%
82.53%
-10.09%
N/A
Key characteristics
| PPA | DFEN | |
|---|---|---|
| Sharpe Ratio | 2.66 | 1.95 |
| Sortino Ratio | 3.54 | 2.38 |
| Omega Ratio | 1.48 | 1.33 |
| Calmar Ratio | 6.35 | 1.24 |
| Martin Ratio | 21.14 | 12.28 |
| Ulcer Index | 1.78% | 7.22% |
| Daily Std Dev | 14.14% | 45.49% |
| Max Drawdown | -57.37% | -91.36% |
| Current Drawdown | -5.41% | -47.51% |
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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.
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.
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.
Dividends
PPA vs. DFEN - Dividend Comparison
PPA's dividend yield for the trailing twelve months is around 0.55%, less than DFEN's 0.91% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
DFEN Direxion Daily Aerospace & Defense Bull 3X Shares | 0.91% | 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.
Volatility
PPA vs. DFEN - Volatility Comparison
The current volatility for Invesco Aerospace & Defense ETF (PPA) is 6.94%, while Direxion Daily Aerospace & Defense Bull 3X Shares (DFEN) has a volatility of 23.00%. 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.