PPA vs VOE: Holdings Overlap
PPAInvesco Aerospace & Defense ETF
Invesco · 60 holdings · $8.7B · as of 2026-04-30
VOEVanguard Mid-cap Value Index Fund
Vanguard · 170 holdings · $24.2B · as of 2026-03-31
Holdings snapshots are 30 days apart (PPA: 2026-04-30, VOE: 2026-03-31). 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 PPA and VOE?
Invesco Aerospace & Defense ETF (PPA, by Invesco) holds 60 positions; Vanguard Mid-cap Value Index Fund (VOE, by Vanguard) holds 170. They have 3 holdings in common, and by portfolio weight the two funds are 2.3% identical. In practical terms the pair is essentially distinct, holding almost none of the same securities.
- Overlap by Weight
- 2.3%Sum of the smaller weight of each shared holding
- Shared Holdings
- 3PPA holds 60 · VOE holds 170
- Weight in Shared Holdings
- PPA 6%·VOE 2%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 PPA
57 of 60 positions (94.5% of the fund) are not held by VOE. Showing the top 30 by weight.
Sector Breakdown
| Sector | PPA | VOE |
|---|---|---|
| Industrials | 92.8% | 13.6% |
| Financials | 0.0% | 17.6% |
| Energy | 0.0% | 13.0% |
| Utilities | 0.0% | 12.7% |
| Consumer Staples | 0.0% | 8.3% |
| Other Sectors | 7.5% | 34.3% |
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 |
|---|---|---|---|---|---|---|---|
| PPA | +2.8% | +17.5% | +25.3% | +29.8% | +20.7% | +17.8% | 0.35% |
| VOE | +3.2% | +17.9% | +26.2% | +15.9% | +10.1% | +10.8% | 1.80% |
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 PPA vs VOE →
Shared Holdings(3)
The top 3 shared positions account for 100% of the overlap, led by LHX, KEYS and LDOS.
Frequently Asked Questions
How much do PPA and VOE overlap?
PPA and VOE overlap by 2.3% of portfolio weight. They share 3 holdings (PPA holds 60 positions and VOE holds 170), based on each fund's latest SEC-reported holdings.
Is it redundant to own both PPA and VOE?
The two portfolios are 2.3% identical by weight. Owning both is genuine diversification: the funds hold almost none of the same securities.
What are the biggest shared holdings of PPA and VOE?
The largest positions held by both funds are LHX, KEYS and LDOS. Together the top 3 shared positions account for 100% of the total overlap.
What does PPA own that VOE doesn't?
57 positions (94.5% of PPA) are unique to PPA, led by BA, GE and RTX. In the other direction, 167 positions (97.2% of VOE) are unique to VOE.