PPA vs. ITA
Compare and contrast key facts about Invesco Aerospace & Defense ETF (PPA) and iShares U.S. Aerospace & Defense ETF (ITA).
PPA and ITA 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. ITA is a passively managed fund by iShares that tracks the performance of the Dow Jones U.S. Select Aerospace & Defense Index. It was launched on May 5, 2006. Both PPA and ITA 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 ITA.
Performance
PPA vs. ITA - Performance Comparison
Returns By Period
In the year-to-date period, PPA achieves a 30.20% return, which is significantly higher than ITA's 21.49% return. Over the past 10 years, PPA has outperformed ITA with an annualized return of 14.37%, while ITA has yielded a comparatively lower 11.61% annualized return.
PPA
30.20%
1.92%
15.04%
38.04%
12.54%
14.37%
ITA
21.49%
1.59%
14.41%
30.84%
6.94%
11.61%
Key characteristics
| PPA | ITA | |
|---|---|---|
| Sharpe Ratio | 2.73 | 2.10 |
| Sortino Ratio | 3.62 | 2.81 |
| Omega Ratio | 1.50 | 1.40 |
| Calmar Ratio | 6.51 | 4.42 |
| Martin Ratio | 21.18 | 13.61 |
| Ulcer Index | 1.82% | 2.33% |
| Daily Std Dev | 14.15% | 15.08% |
| Max Drawdown | -57.37% | -59.72% |
| Current Drawdown | -3.98% | -2.79% |
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PPA vs. ITA - Expense Ratio Comparison
PPA has a 0.61% expense ratio, which is higher than ITA's 0.42% expense ratio.
Correlation
The correlation between PPA and ITA 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. ITA - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Aerospace & Defense ETF (PPA) and iShares U.S. Aerospace & Defense ETF (ITA). 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. ITA - Dividend Comparison
PPA's dividend yield for the trailing twelve months is around 0.55%, less than ITA's 0.80% 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% |
ITA iShares U.S. Aerospace & Defense ETF | 0.80% | 0.93% | 0.95% | 0.82% | 1.07% | 1.54% | 1.13% | 0.91% | 1.07% | 1.04% | 1.21% | 1.13% |
Drawdowns
PPA vs. ITA - Drawdown Comparison
The maximum PPA drawdown since its inception was -57.37%, roughly equal to the maximum ITA drawdown of -59.72%. Use the drawdown chart below to compare losses from any high point for PPA and ITA. For additional features, visit the drawdowns tool.
Volatility
PPA vs. ITA - Volatility Comparison
Invesco Aerospace & Defense ETF (PPA) and iShares U.S. Aerospace & Defense ETF (ITA) have volatilities of 6.69% and 6.88%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.