PPA vs. ESLT
Compare and contrast key facts about Invesco Aerospace & Defense ETF (PPA) and Elbit Systems Ltd (ESLT).
PPA is a passively managed fund by Invesco that tracks the performance of the SPADE Defense Index. It was launched on Oct 26, 2005.
Performance
PPA vs. ESLT - Performance Comparison
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PPA vs. ESLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PPA Invesco Aerospace & Defense ETF | 5.82% | 37.15% | 25.28% | 18.41% | 9.52% | 7.09% | 0.45% | 39.63% | -7.51% | 30.10% |
ESLT Elbit Systems Ltd | 46.98% | 125.14% | 22.17% | 31.30% | -4.82% | 34.77% | -14.56% | 37.62% | -13.22% | 32.65% |
Returns By Period
In the year-to-date period, PPA achieves a 5.82% return, which is significantly lower than ESLT's 46.98% return. Over the past 10 years, PPA has underperformed ESLT with an annualized return of 17.70%, while ESLT has yielded a comparatively higher 26.11% annualized return.
PPA
- 1D
- 3.49%
- 1M
- -8.46%
- YTD
- 5.82%
- 6M
- 6.62%
- 1Y
- 42.80%
- 3Y*
- 27.91%
- 5Y*
- 18.59%
- 10Y*
- 17.70%
ESLT
- 1D
- 3.96%
- 1M
- 10.41%
- YTD
- 46.98%
- 6M
- 67.02%
- 1Y
- 122.57%
- 3Y*
- 72.31%
- 5Y*
- 43.97%
- 10Y*
- 26.11%
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Return for Risk
PPA vs. ESLT — Risk / Return Rank
PPA
ESLT
PPA vs. ESLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Aerospace & Defense ETF (PPA) and Elbit Systems Ltd (ESLT). 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.
| PPA | ESLT | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.99 | 3.00 | -1.02 |
Sortino ratioReturn per unit of downside risk | 2.68 | 3.54 | -0.87 |
Omega ratioGain probability vs. loss probability | 1.37 | 1.47 | -0.10 |
Calmar ratioReturn relative to maximum drawdown | 3.11 | 6.17 | -3.06 |
Martin ratioReturn relative to average drawdown | 12.51 | 21.51 | -9.00 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| PPA | ESLT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.99 | 3.00 | -1.02 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.03 | 1.37 | -0.35 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.87 | 0.92 | -0.05 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.66 | 0.63 | +0.03 |
Correlation
The correlation between PPA and ESLT is 0.39, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
PPA vs. ESLT - Dividend Comparison
PPA's dividend yield for the trailing twelve months is around 0.40%, more than ESLT's 0.32% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PPA Invesco Aerospace & Defense ETF | 0.40% | 0.42% | 0.61% | 0.67% | 0.83% | 0.59% | 0.88% | 0.95% | 0.90% | 0.67% | 1.70% | 1.41% |
ESLT Elbit Systems Ltd | 0.32% | 0.47% | 0.77% | 0.94% | 1.22% | 1.03% | 1.28% | 1.14% | 1.54% | 1.32% | 1.57% | 1.63% |
Drawdowns
PPA vs. ESLT - Drawdown Comparison
The maximum PPA drawdown since its inception was -57.37%, which is greater than ESLT's maximum drawdown of -53.79%. Use the drawdown chart below to compare losses from any high point for PPA and ESLT.
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Drawdown Indicators
| PPA | ESLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.37% | -53.79% | -3.58% |
Max Drawdown (1Y)Largest decline over 1 year | -13.71% | -19.48% | +5.77% |
Max Drawdown (5Y)Largest decline over 5 years | -18.37% | -32.89% | +14.52% |
Max Drawdown (10Y)Largest decline over 10 years | -43.92% | -32.89% | -11.03% |
Current DrawdownCurrent decline from peak | -10.69% | -16.29% | +5.60% |
Average DrawdownAverage peak-to-trough decline | -9.19% | -13.90% | +4.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.41% | 5.59% | -2.18% |
Volatility
PPA vs. ESLT - Volatility Comparison
The current volatility for Invesco Aerospace & Defense ETF (PPA) is 7.16%, while Elbit Systems Ltd (ESLT) has a volatility of 21.80%. This indicates that PPA experiences smaller price fluctuations and is considered to be less risky than ESLT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PPA | ESLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.16% | 21.80% | -14.64% |
Volatility (6M)Calculated over the trailing 6-month period | 15.07% | 31.16% | -16.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.64% | 41.06% | -19.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.19% | 32.18% | -13.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.48% | 28.60% | -8.12% |