DES vs PPA: Holdings Overlap
DESWisdomTree U.S. SmallCap Dividend Fund
WisdomTree · 530 holdings · $2.2B · as of 2026-03-31
PPAInvesco Aerospace & Defense ETF
Invesco · 60 holdings · $8.7B · as of 2026-04-30
Holdings snapshots are 30 days apart (DES: 2026-03-31, PPA: 2026-04-30). Weights and index membership change between snapshots, so the true current overlap is typically higher than shown. For funds tracking the same index, the gap can be 5–15 points.
How similar are DES and PPA?
WisdomTree U.S. SmallCap Dividend Fund (DES, by WisdomTree) holds 530 positions; Invesco Aerospace & Defense ETF (PPA, by Invesco) holds 60. They have 3 holdings in common, and by portfolio weight the two funds are 0.5% identical. In practical terms the pair is essentially distinct, holding almost none of the same securities.
- Overlap by Weight
- 0.5%Sum of the smaller weight of each shared holding
- Shared Holdings
- 3DES holds 530 · PPA holds 60
- Weight in Shared Holdings
- DES 1%·PPA 1%Share of each fund's weight in stocks both funds own
Based on each fund's latest official holdings. How is this calculated?
What makes each fund different
Only in DES
527 of 530 positions (98.8% of the fund) are not held by PPA. Showing the top 30 by weight.
Sector Breakdown
| Sector | DES | PPA |
|---|---|---|
| Industrials | 13.1% | 92.8% |
| Financials | 23.2% | 0.0% |
| Consumer Discretionary | 13.8% | 0.0% |
| Energy | 11.3% | 0.0% |
| Real Estate | 9.4% | 0.0% |
| Other Sectors | 24.7% | 7.5% |
| Unclassified | 4.2% | 0.0% |
Share of each fund's portfolio weight by GICS-style sector, compiled from issuer fund data and our own classification of the holdings, not the issuers' published sector charts. “Unclassified” is weight we could not classify (4% of DES, 0% of PPA).
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| DES | +3.2% | +24.6% | +33.0% | +13.6% | +8.4% | +8.2% | 2.22% |
| PPA | +2.8% | +17.5% | +25.3% | +29.8% | +20.7% | +17.8% | 0.35% |
Total returns including dividends, from adjusted daily closes as of 2026-08-07. 3Y/5Y/10Y are annualized. Yield is trailing-12-month distributions over the last close. Past performance does not predict future results.
Project the growth of $10,000 in DES vs PPA →
Shared Holdings(3)
The top 3 shared positions account for 100% of the overlap, led by SAIC, IRDM and CDRE.
Frequently Asked Questions
How much do DES and PPA overlap?
DES and PPA overlap by 0.5% of portfolio weight. They share 3 holdings (DES holds 530 positions and PPA holds 60), based on each fund's latest SEC-reported holdings.
Is it redundant to own both DES and PPA?
The two portfolios are 0.5% identical by weight. Owning both is genuine diversification: the funds hold almost none of the same securities.
What are the biggest shared holdings of DES and PPA?
The largest positions held by both funds are SAIC, IRDM and CDRE. Together the top 3 shared positions account for 100% of the total overlap.
What does DES own that PPA doesn't?
527 positions (98.8% of DES) are unique to DES, led by SON, TFSL and KGS. In the other direction, 57 positions (99.8% of PPA) are unique to PPA.