ITA vs PPA: Holdings Overlap
ITAiShares U.S. Aerospace & Defense ETF
iShares · 44 holdings · $14.8B · 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 (ITA: 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 ITA and PPA?
iShares U.S. Aerospace & Defense ETF (ITA, by iShares) holds 44 positions; Invesco Aerospace & Defense ETF (PPA, by Invesco) holds 60. They have 33 holdings in common, and by portfolio weight the two funds are 67.8% identical. In practical terms the pair is heavily overlapping, with largely the same stocks driving both funds.
- Overlap by Weight
- 67.8%Sum of the smaller weight of each shared holding
- Shared Holdings
- 33ITA holds 44 · PPA holds 60
- Weight in Shared Holdings
- ITA 95%·PPA 72%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 ITA
11 of 44 positions (4.9% of the fund) are not held by PPA.
Sector Breakdown
| Sector | ITA | PPA |
|---|---|---|
| Industrials | 99.8% | 92.8% |
| Information Technology | 0.0% | 7.4% |
| Communication Services | 0.0% | 0.1% |
| Consumer Discretionary | 0.1% | 0.0% |
| Other Sectors | 0.0% | 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.
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| ITA | +2.3% | +16.9% | +28.0% | +29.8% | +19.2% | +15.5% | 0.42% |
| 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 ITA vs PPA →
Shared Holdings(33)
The top 10 shared positions account for 75% of the overlap, led by BA, GE and RTX.
 BABoeing Co. (The) | 8.91% | 9.14% | 8.91% |
|---|---|---|---|
 GEGeneral Electric Co. | 19.03% | 7.87% | 7.87% |
 RTXRTX Corp. COM | 16.55% | 7.15% | 7.15% |
 LMTLockheed Martin Corporation COM | 4.58% | 6.41% | 4.58% |
 GDGeneral Dynamics Corporation COM | 4.77% | 4.54% | 4.54% |
 NOCNorthrop Grumman Corporation COM | 4.58% | 4.47% | 4.47% |
 HWMHowmet Aerospace Inc COM | 4.50% | 4.19% | 4.19% |
 LHXL3 Harris Technologies Inc COM | 4.66% | 3.77% | 3.77% |
 TDGTransdigm Group Inc. COM | 4.53% | 2.63% | 2.63% |
 RKLBRocket Lab Corp. COM | 2.55% | 2.78% | 2.55% |
 CWCurtiss-Wright Corporation | 2.12% | 1.73% | 1.73% |
 AXONAxon Enterprise Inc COM | 2.83% | 1.68% | 1.68% |
 ATIATI Inc COM | 1.67% | 1.36% | 1.36% |
 CRSCarpenter Technology Corporation COM | 1.66% | 1.36% | 1.36% |
 WWDWoodward Inc. COM | 1.80% | 1.29% | 1.29% |
 HIIHuntington Ingalls Industries, Inc. COM | 1.26% | 1.26% | 1.26% |
 TXTTextron Inc. COM | 1.29% | 1.23% | 1.23% |
 BWXTBWX Technologies Inc. COM | 1.58% | 1.22% | 1.22% |
 KTOSKratos Defense & Security Solutions, Inc. COM NEW | 1.10% | 1.00% | 1.00% |
 HEIHeico Corp COM | 0.93% | 1.24% | 0.93% |
 MOG-AMoog, Inc., Class A | 0.70% | 0.62% | 0.62% |
 KRMNKarman Holdings Inc. COMMON STOCK | 0.52% | 0.56% | 0.52% |
 HXLHexcel Corporation COM | 0.52% | 0.65% | 0.52% |
 AVAVAeroVironment, Inc. COM | 0.49% | 0.87% | 0.49% |
 SAROStandardAero Inc. COM | 0.41% | 0.73% | 0.41% |
Frequently Asked Questions
How much do ITA and PPA overlap?
ITA and PPA overlap by 67.8% of portfolio weight. They share 33 holdings (ITA holds 44 positions and PPA holds 60), based on each fund's latest SEC-reported holdings.
Is it redundant to own both ITA and PPA?
The two portfolios are 67.8% identical by weight. Owning both mostly doubles down on the shared core rather than diversifying: the same large positions drive both funds.
What are the biggest shared holdings of ITA and PPA?
The largest positions held by both funds are BA, GE, RTX, LMT and GD. Together the top 10 shared positions account for 75% of the total overlap.
What does ITA own that PPA doesn't?
11 positions (4.9% of ITA) are unique to ITA, led by FTAI, HEI-A and VSEC. In the other direction, 27 positions (27.9% of PPA) are unique to PPA.