VIS vs PPA: Holdings Overlap
VISVanguard Industrials Index Fund
Vanguard · 381 holdings · $8.5B · as of 2026-05-31
PPAInvesco Aerospace & Defense ETF
Invesco · 60 holdings · $8.7B · as of 2026-04-30
Holdings snapshots are 31 days apart (VIS: 2026-05-31, 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 VIS and PPA?
Vanguard Industrials Index Fund (VIS, by Vanguard) holds 381 positions; Invesco Aerospace & Defense ETF (PPA, by Invesco) holds 60. They have 46 holdings in common, and by portfolio weight the two funds are 29.4% identical. In practical terms the pair is lightly overlapping, with most of each portfolio distinct.
- Overlap by Weight
- 29.4%Sum of the smaller weight of each shared holding
- Shared Holdings
- 46VIS holds 381 · PPA holds 60
- Weight in Shared Holdings
- VIS 29%·PPA 88%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 VIS
335 of 381 positions (70.2% of the fund) are not held by PPA. Showing the top 30 by weight.
Sector Breakdown
| Sector | VIS | PPA |
|---|---|---|
| Industrials | 99.3% | 92.8% |
| Information Technology | 0.3% | 7.4% |
| Communication Services | 0.0% | 0.1% |
| 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 |
|---|---|---|---|---|---|---|---|
| VIS | +1.5% | +20.1% | +25.2% | +20.8% | +14.0% | +14.1% | 0.87% |
| 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 VIS vs PPA →
Shared Holdings(46)
The top 10 shared positions account for 74% of the overlap, led by GE, RTX and BA.
 GEGeneral Electric Co. | 4.84% | 7.87% | 4.84% |
|---|---|---|---|
 RTXRTX Corp. COM | 3.41% | 7.15% | 3.41% |
 BABoeing Co. (The) | 2.57% | 9.14% | 2.57% |
 ETNEaton Corporation PLC COM USD0.01 | 2.21% | 2.36% | 2.21% |
 HONHoneywell International Inc. COM | 2.14% | 4.40% | 2.14% |
 LMTLockheed Martin Corporation COM | 1.57% | 6.41% | 1.57% |
 PHParker-Hannifin Corp. COM | 1.51% | 3.75% | 1.51% |
 HWMHowmet Aerospace Inc COM | 1.40% | 4.19% | 1.40% |
 GDGeneral Dynamics Corporation COM | 1.13% | 4.54% | 1.13% |
 NOCNorthrop Grumman Corporation COM | 1.08% | 4.47% | 1.08% |
 TDGTransdigm Group Inc. COM | 1.00% | 2.63% | 1.00% |
 RKLBRocket Lab Corp. COM | 0.98% | 2.78% | 0.98% |
 LHXL3 Harris Technologies Inc COM | 0.84% | 3.77% | 0.84% |
 AXONAxon Enterprise Inc COM | 0.48% | 1.68% | 0.48% |
 CWCurtiss-Wright Corporation | 0.39% | 1.73% | 0.39% |
 ATIATI Inc COM | 0.34% | 1.36% | 0.34% |
 CRSCarpenter Technology Corporation COM | 0.33% | 1.36% | 0.33% |
 WWDWoodward Inc. COM | 0.30% | 1.29% | 0.30% |
 BWXTBWX Technologies Inc. COM | 0.25% | 1.22% | 0.25% |
 TXTTextron Inc. COM | 0.23% | 1.23% | 0.23% |
 LDOSLeidos Holdings Inc COM | 0.22% | 1.01% | 0.22% |
 HEIHeico Corp COM | 0.22% | 1.24% | 0.22% |
 PLPlanet Labs PBC, Class A | 0.18% | 1.05% | 0.18% |
 HIIHuntington Ingalls Industries, Inc. COM | 0.17% | 1.26% | 0.17% |
 CACICACI International, Inc., Class A | 0.16% | 0.89% | 0.16% |
Frequently Asked Questions
How much do VIS and PPA overlap?
VIS and PPA overlap by 29.4% of portfolio weight. They share 46 holdings (VIS holds 381 positions and PPA holds 60), based on each fund's latest SEC-reported holdings.
Is it redundant to own both VIS and PPA?
The two portfolios are 29.4% identical by weight. Owning both is not redundant. Most of each portfolio is distinct, so the funds can serve different roles.
What are the biggest shared holdings of VIS and PPA?
The largest positions held by both funds are GE, RTX, BA, ETN and HON. Together the top 10 shared positions account for 74% of the total overlap.
What does VIS own that PPA doesn't?
335 positions (70.2% of VIS) are unique to VIS, led by CAT, GEV and DE. In the other direction, 14 positions (12.2% of PPA) are unique to PPA.