Bonds & fixed income
PPAInvescoINDEX
Invesco Aerospace & Defense ETF
$156.87-0.78% vs prior close
14618652-WK
Price through Oct 27, 2026 · Flows through Oct 26, 2026. Figures use the latest available records, not a live quote. Fund details retrieved Oct 27, 2026. Holdings snapshot retrieved Oct 27, 2026.
The fund generally will invest at least 90% of its total assets in the securities that comprise the underlying index. The underlying index is composed of common stocks of companies that are systematically important to the defense sector and are involved with the development, manufacture, operation and support of U.S. defense, military, national/homeland security, and government space operations. The fund is non-diversified.
PPA price
Source: Market tape, daily closes; price return, distributions not reinvested
Table
| Date | PPA close |
|---|---|
| Jul 27, 2026 | $177.18 |
| Jul 28, 2026 | $177.66 |
| Jul 29, 2026 | $170.92 |
| Jul 30, 2026 | $172.63 |
| Jul 31, 2026 | $174.44 |
| Aug 3, 2026 | $179.14 |
| Aug 4, 2026 | $183.54 |
| Aug 5, 2026 | $183.47 |
| Aug 6, 2026 | $181.96 |
| Aug 7, 2026 | $183.78 |
| Aug 10, 2026 | $184.02 |
| Aug 11, 2026 | $184.07 |
| Aug 12, 2026 | $184.46 |
| Aug 13, 2026 | $183.27 |
| Aug 14, 2026 | $185.09 |
| Aug 17, 2026 | $183.18 |
| Aug 18, 2026 | $182.56 |
| Aug 19, 2026 | $179.48 |
| Aug 20, 2026 | $173.77 |
| Aug 21, 2026 | $173.67 |
| Aug 24, 2026 | $170.79 |
| Aug 25, 2026 | $170.62 |
| Aug 26, 2026 | $172.41 |
| Aug 27, 2026 | $171.69 |
| Aug 28, 2026 | $170.01 |
| Aug 31, 2026 | $167.39 |
| Sep 1, 2026 | $165.12 |
| Sep 2, 2026 | $163.57 |
| Sep 3, 2026 | $165.57 |
| Sep 4, 2026 | $165.18 |
| Sep 8, 2026 | $163.95 |
| Sep 9, 2026 | $161.30 |
| Sep 10, 2026 | $160.68 |
| Sep 11, 2026 | $161.81 |
| Sep 14, 2026 | $160.65 |
| Sep 15, 2026 | $159.47 |
| Sep 16, 2026 | $160.17 |
| Sep 17, 2026 | $160.04 |
| Sep 18, 2026 | $159.78 |
| Sep 21, 2026 | $161.17 |
| Sep 22, 2026 | $159.61 |
| Sep 23, 2026 | $159.50 |
| Sep 24, 2026 | $159.09 |
| Sep 25, 2026 | $159.32 |
| Sep 28, 2026 | $156.24 |
| Sep 29, 2026 | $155.94 |
| Sep 30, 2026 | $154.62 |
| Oct 1, 2026 | $155.57 |
| Oct 2, 2026 | $155.69 |
| Oct 5, 2026 | $155.46 |
| Oct 6, 2026 | $156.20 |
| Oct 7, 2026 | $152.85 |
| Oct 8, 2026 | $153.39 |
| Oct 9, 2026 | $155.02 |
| Oct 12, 2026 | $154.49 |
| Oct 13, 2026 | $153.19 |
| Oct 14, 2026 | $153.24 |
| Oct 15, 2026 | $155.33 |
| Oct 16, 2026 | $156.43 |
| Oct 19, 2026 | $155.96 |
| Oct 20, 2026 | $155.18 |
| Oct 21, 2026 | $155.82 |
| Oct 22, 2026 | $154.53 |
| Oct 23, 2026 | $154.03 |
| Oct 26, 2026 | $158.11 |
| Oct 27, 2026 | $156.87 |
Weekly net flows, 3M
Net inflow over the range: +$35M
- Inflow / above zero
- Outflow / below zero
Source: Daily creation and redemption records
Show as table
| Label | Value ($) |
|---|---|
| Jul 27 | $23M |
| Aug 3 | $20.1M |
| Aug 10 | $7.4M |
| Aug 17 | $8.9M |
| Aug 24 | $73.9M |
| Aug 31 | −$38M |
| Sep 7 | −$1.6M |
| Sep 14 | −$9.6M |
| Sep 21 | −$30.3M |
| Sep 28 | $200.4M |
| Oct 5 | −$194.1M |
| Oct 12 | −$7.7M |
| Oct 19 | −$17M |
| Oct 26 | $0 |
The desk’s read
Money is leaving — −$18M in net outflows over the past month, about 0.2% of the fund's asset base, while the price has returned +0.2% so far this year. At 0.58% a year it is not the cheapest way in — IWR has a reported fee of 0.19%.
COMPOSED FROM THE FUND’S OWN DAILY RECORDS · UPDATED WITH EACH REFRESH
$7.5Bassets under management
0.58%expense ratio · $58 per $10,000 a year
−$18Mnet flow, trailing month
320Kavg daily volume, 30 days
53holdings · US-domiciled
2005listed October 26, 2005 · beta 1.00
The book at a glance
CELL SIZE IS PORTFOLIO WEIGHT · COLOR IS THE CHANGE IN THE LATEST AVAILABLE SNAPSHOT · TOP 40 POSITIONS
Holdings
| # | Holding | Weight | Price | Day | 52-wk | |
|---|---|---|---|---|---|---|
| 1 | LMTLOCKHEED MARTIN | 9.54% | $622.99 | -1.9% | ||
| 2 | RTXRAYTHEON TECHNOLOGIES | 9.33% | $194.60 | -1.5% | ||
| 3 | GEGENERAL ELECTRIC | 8.36% | $297.66 | +3.2% | ||
| 4 | BABOEING | 8.88% | $168.18 | -10.7% | ||
| 5 | GDGENERAL DYNAMICS | 5.53% | $354.89 | -0.6% | ||
| 6 | NOCNORTHROP GRUMMAN | 5.40% | $551.23 | -2.5% | ||
| 7 | HONAHoneywell Aerospace | 4.05% | $167.90 | -0.4% | ||
| 8 | LHXL3HARRIS TECHNOLOGIES | 4.06% | $259.40 | -0.3% | ||
| 9 | TDGTRANSDIGM GROUP | 3.46% | $1130.23 | +0.0% | ||
| 10 | HWMHOWMET AEROSPACE | 3.42% | $191.99 | -1.2% | ||
| 11 | PHPARKER HANNIFIN | 3.41% | $900.73 | -0.4% | ||
| 12 | ESLTELBIT SYSTEMS | 2.90% | $790.00 | +1.5% | ||
| 13 | APHAMPHENOL | 2.08% | $78.21 | +3.9% | ||
| 14 | AXONAXON ENTERPRISE | 2.09% | $425.87 | +0.3% | ||
| 15 | ETNEATON CORP | 1.75% | $384.20 | +3.3% |
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- Industrials88.38%
- Electronic Technology71.03%
- Producer Manufacturing15.89%
- Technology11.42%
- Information Technology11.19%
- Technology Services6.81%
- Commercial Services4.23%
- Non-Energy Minerals0.83%
- Other0.67%
- Process Industries0.6%
Source: Portfolio composition, latest disclosure
Show as table
| Item | Value (%) |
|---|---|
| Industrials | 88.38% |
| Electronic Technology | 71.03% |
| Producer Manufacturing | 15.89% |
| Technology | 11.42% |
| Information Technology | 11.19% |
| Technology Services | 6.81% |
| Commercial Services | 4.23% |
| Non-Energy Minerals | 0.83% |
| Other | 0.67% |
| Process Industries | 0.6% |
Country weights
- United States97.5%
- Ireland3.78%
- Israel1.53%
- Canada0.96%
- Other0.69%
Source: Portfolio composition, latest disclosure
Show as table
| Item | Value (%) |
|---|---|
| United States | 97.5% |
| Ireland | 3.78% |
| Israel | 1.53% |
| Canada | 0.96% |
| Other | 0.69% |
Performance
| 1 week | +0.7% |
| 1 month | -1.5% |
| 3 months | -11.5% |
| 6 months | -5.5% |
| YTD | +0.2% |
| 1 year | -1.7% |
| 3 years | — |
PRICE RETURN, DISTRIBUTIONS NOT REINVESTED
Net flows
| 1 week | −$8M |
| 1 month | −$18M |
| 3 months | +$35M |
| YTD | +$776M |
| 1 year | +$776M |
CREATION/REDEMPTION DOLLARS, DAILY RECORDS
Monthly net flows
- Inflow / above zero
- Outflow / below zero
Source: Daily creation/redemption records, trailing twelve months
Show as table
| Label | Value ($) |
|---|---|
| Aug | $116.4M |
| Sep | $105.8M |
| Oct | $17.1M |
| Feb | $437.2M |
| Mar | $337.9M |
| Apr | $98.1M |
| May | −$141M |
| Jun | −$14.5M |
| Jul | $45.7M |
| Aug | $110.3M |
| Sep | −$16.5M |
| Oct | −$81.5M |
The risk read
16%realized volatility, 30 days (annualized)
21%realized volatility, 1 year
-17.6%deepest fall from a peak, 1 year
-15.5%latest close versus that peak
The top holding is 9.5% of the book; the top ten carry 62%. Spread across 67+ names, it behaves like roughly 20 equally-weighted positions.
VOLATILITY & DRAWDOWN FROM THE DAILY TAPE · CONCENTRATION FROM THE LATEST DISCLOSED BOOK
Options tape
3calls · latest snapshot
1puts · latest snapshot
0.33put/call ratio
206Kshares traded
| Most-traded holdings, options premium | Bullish | Bearish |
|---|---|---|
| BA BOEING | $122M | $153M |
| SPCX Space Exploration Technologies Corp | $127M | $133M |
| PLTR PALANTIR | $76M | $71M |
| GE GENERAL ELECTRIC | $17M | $21M |
| RKLB ROCKET LAB USA | $19M | $13M |
TODAY’S OPTIONS PREMIUM IN THE FUND’S UNDERLYING NAMES
The case against PPA
Due diligence cuts both ways. These funds sit on the same shelf and beat PPA on at least one dimension that matters — the fee, the asset base, or where the money is going.
| Fund | Fee | Assets | Flow, 1M | The case | |
|---|---|---|---|---|---|
| SPDW SPDR Portfolio Developed World ex-US ETF | 0.03% | $40.7B | +$609M | -55bp on fee · 5× the assets · +$609M in over the month | Head-to-head |
| SPMD State Street SPDR Portfolio S&P 400 Mid Cap ETF | 0.03% | $18.4B | +$199M | -55bp on fee · 2× the assets · +$199M in over the month | Head-to-head |
| IDEV iShares Core MSCI International Developed Markets ETF | 0.04% | $32.4B | +$497M | -54bp on fee · 4× the assets · +$497M in over the month | Head-to-head |
| IGSB iShares 1-5 Year Investment Grade Corporate Bond ETF | 0.04% | $23.7B | +$51M | -54bp on fee · 3× the assets · +$51M in over the month | Head-to-head |
| IGIB iShares 5-10 Year Investment Grade Corporate Bond ETF | 0.04% | $18.6B | +$412M | -54bp on fee · 2× the assets · +$412M in over the month | Head-to-head |