XAR vs. PPA
Compare and contrast key facts about SPDR S&P Aerospace & Defense ETF (XAR) and Invesco Aerospace & Defense ETF (PPA).
XAR and PPA are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. XAR is a passively managed fund by State Street that tracks the performance of the S&P Aerospace & Defense Select Industry. It was launched on Sep 28, 2011. PPA is a passively managed fund by Invesco that tracks the performance of the SPADE Defense Index. It was launched on Oct 26, 2005. Both XAR and PPA 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: XAR or PPA.
Performance
XAR vs. PPA - Performance Comparison
Returns By Period
In the year-to-date period, XAR achieves a 26.12% return, which is significantly lower than PPA's 30.20% return. Over the past 10 years, XAR has underperformed PPA with an annualized return of 13.41%, while PPA has yielded a comparatively higher 14.37% annualized return.
XAR
26.12%
5.70%
20.48%
36.00%
9.81%
13.41%
PPA
30.20%
1.92%
15.04%
38.04%
12.54%
14.37%
Key characteristics
| XAR | PPA | |
|---|---|---|
| Sharpe Ratio | 2.12 | 2.73 |
| Sortino Ratio | 2.86 | 3.62 |
| Omega Ratio | 1.37 | 1.50 |
| Calmar Ratio | 5.23 | 6.51 |
| Martin Ratio | 12.98 | 21.18 |
| Ulcer Index | 2.80% | 1.82% |
| Daily Std Dev | 17.14% | 14.15% |
| Max Drawdown | -46.37% | -57.37% |
| Current Drawdown | -0.68% | -3.98% |
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XAR vs. PPA - Expense Ratio Comparison
XAR has a 0.35% expense ratio, which is lower than PPA's 0.61% expense ratio.
Correlation
The correlation between XAR and PPA is 0.89, 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
XAR vs. PPA - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Aerospace & Defense ETF (XAR) and Invesco Aerospace & Defense ETF (PPA). 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
XAR vs. PPA - Dividend Comparison
XAR's dividend yield for the trailing twelve months is around 0.51%, less than PPA's 0.55% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
XAR SPDR S&P Aerospace & Defense ETF | 0.51% | 0.54% | 0.50% | 0.83% | 0.63% | 0.75% | 1.19% | 0.76% | 1.10% | 2.31% | 1.07% | 1.96% |
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% |
Drawdowns
XAR vs. PPA - Drawdown Comparison
The maximum XAR drawdown since its inception was -46.37%, smaller than the maximum PPA drawdown of -57.37%. Use the drawdown chart below to compare losses from any high point for XAR and PPA. For additional features, visit the drawdowns tool.
Volatility
XAR vs. PPA - Volatility Comparison
SPDR S&P Aerospace & Defense ETF (XAR) has a higher volatility of 7.78% compared to Invesco Aerospace & Defense ETF (PPA) at 6.69%. This indicates that XAR's price experiences larger fluctuations and is considered to be riskier than PPA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.