PPA vs. WDGF

Last updated Jun 24, 2026

PPA (Invesco Aerospace & Defense ETF) and WDGF (WisdomTree Global Defense Fund) are both Aerospace & Defense funds - PPA tracks the SPADE Defense Index while WDGF tracks the WisdomTree Global Defense Index. Both are passively managed. Their correlation of 0.87 suggests significant overlap in exposure. PPA charges 0.58%/yr vs 0.45%/yr for WDGF.

Performance

PPA vs. WDGF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Aerospace & Defense ETF (PPA) and WisdomTree Global Defense Fund (WDGF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PPA achieves a 9.76% return, which is significantly higher than WDGF's 0.72% return.

PPA

• 1D: -0.53%
• 1M: 0.95%
• YTD: 9.76%
• 6M: 7.56%
• 1Y: 26.02%
• 3Y*: 28.78%
• 5Y*: 18.41%
• 10Y*: 17.79%

WDGF

• 1D: -0.60%
• 1M: -4.73%
• YTD: 0.72%
• 6M: -0.76%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

PPA vs. WDGF - Yearly Performance Comparison

	2026 (YTD)	2025
PPA Invesco Aerospace & Defense ETF	9.76%	4.95%
WDGF WisdomTree Global Defense Fund	0.72%	-0.39%

Correlation

The correlation between PPA and WDGF is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 12, 2025	0.87

Return for Risk

PPA vs. WDGF — Risk / Return Rank

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

PPA

PPA Risk / Return Rank: 38
PPA Sharpe Ratio Rank: 38
PPA Sortino Ratio Rank: 40
PPA Omega Ratio Rank: 35
PPA Calmar Ratio Rank: 40
PPA Martin Ratio Rank: 36

WDGF

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

PPA vs. WDGF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Aerospace & Defense ETF (PPA) and WisdomTree Global Defense Fund (WDGF). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	PPA	WDGF	Difference
Sharpe ratio: Return per unit of total volatility	1.30	—	—
Sortino ratio: Return per unit of downside risk	1.96	—	—
Omega ratio: Gain probability vs. loss probability	1.23	—	—
Calmar ratio: Return relative to maximum drawdown	1.91	—	—
Martin ratio: Return relative to average drawdown	5.29	—	—

Drawdowns

PPA vs. WDGF - Drawdown Comparison

The maximum PPA drawdown since its inception was -57.37%, which is greater than WDGF's maximum drawdown of -14.73%. Use the drawdown chart below to compare losses from any high point for PPA and WDGF.

Drawdown Indicators

	PPA	WDGF	Difference
Max Drawdown Largest peak-to-trough decline	-57.37%	-14.73%	-42.64%
Max Drawdown (1Y) Largest decline over 1 year	-13.71%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-15.24%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-18.37%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-43.92%	—	—
Current Drawdown Current decline from peak	-7.37%	-14.73%	+7.36%
Average Drawdown Average peak-to-trough decline	-9.18%	-5.90%	-3.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.93%	—	—

Volatility

Volatility by Period

	PPA	WDGF	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.40%	—	—
Volatility (6M) Calculated over the trailing 6-month period	17.09%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	20.15%	22.60%	-2.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.70%	22.60%	-3.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.73%	22.60%	-1.87%

PPA vs. WDGF - Expense Ratio Comparison

PPA has a 0.58% expense ratio, which is higher than WDGF's 0.45% expense ratio.

Dividends

PPA vs. WDGF - Dividend Comparison

PPA's dividend yield for the trailing twelve months is around 0.37%, more than WDGF's 0.05% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PPA Invesco Aerospace & Defense ETF	0.37%	0.42%	0.61%	0.67%	0.83%	0.59%	0.88%	0.95%	0.90%	0.67%	1.70%	1.41%
WDGF WisdomTree Global Defense Fund	0.05%	0.05%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PPA and WDGF in my portfolio?

PPA and WDGF have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, PPA or WDGF?

On fees, WDGF is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PPA or WDGF?

WDGF is cheaper with a 0.45% expense ratio, compared with 0.58% for PPA.

Which ETF pays a higher dividend yield, PPA or WDGF?

PPA has the higher dividend yield at 0.37%, compared with 0.05% for WDGF.

What is the main difference between PPA and WDGF?

PPA tracks SPADE Defense Index, while WDGF tracks WisdomTree Global Defense Index. They also come from different issuers: Invesco and WisdomTree. Their fees differ too: 0.58% for PPA and 0.45% for WDGF.