ETF·NYSE
Invesco Aerospace & Defense ETF (PPA)
- Net assets
- $7.40B
- Expense ratio
- 0.58%
- Yield
- 0.43%
- 52-week range
- $144.29 $186.30
The short version
Where PPA stands today, in four lines, and what CleaRank Financial AI makes of it.
PPA at a glance
Invesco Aerospace & Defense ETF (PPA): Hold, 55/100 on CleaRank's AI score.
- Trend Down: the price is below both its 50- and 200-day moving averages ($164.99 and $171.23).
- Fund Expense ratio 0.58%, $7.4B in net assets, -0.1% total return over 1 year.
Figures as of October 16, 2026.
CleaRank Financial AI
The Invesco Aerospace & Defense ETF (PPA) has experienced a notable price decline over the past three months, with a 3-month return of -12.28%.
The fund is currently trading at $155.93, below its 50-day simple moving average of $164.99 and its 200-day simple moving average of $171.23. This positioning suggests a bearish short-to-medium term trend. The ETF's strategy focuses on U.S.-listed companies in aerospace, defense, and government space operations, tracking the SPADE Defense Index. Its sector concentration is heavily weighted towards Industrials at 90.36%, with a smaller allocation to Technology at 9.47%.
Only on CleaRank
Figures we compute ourselves from PPA's own price history. Tap one to see it in context.
Price and trading
The chart, today's range and how far the price has moved over each period.
Trend checks
0/4Price above its 50-day average ›
The price of $155.93 is 5.5% below the 50-day simple moving average of $164.99.Price above its 200-day average ›
The price is 8.9% below the 200-day simple moving average of $171.23.50-day average above the 200-day ›
The 50-day average ($164.99) is 3.6% below the 200-day average ($171.23), the arrangement of a falling longer-term trend.In the upper half of its 52-week range ›
The price sits at 28% of its 52-week range, between $144.29 and $186.30.
PPA share price
Pick a period: each tab shows how far PPA has moved over it, to the last close.
Today's trading
Where PPA sits inside today's range and its 52-week range.
Fund facts and valuation
What the fund holds, what it costs and how it is valued.
Fund checks
2/5Expense ratio at or below 0.20% ›
The fund charges 0.58% a year, $58.00 on a $10,000 holding.Over $1B in net assets ›
Net assets total $7.4B.No sector above 35% of the fund ›
The largest sector, Industrials, makes up 90.4% of the fund.Pays a distribution ›
The distribution yield is 0.43%.Positive return over one year ›
The fund family reports a one-year total return of -0.13%.
PPA Fund Facts
Invesco Aerospace & Defense ETF is an exchange-traded fund that provides diversified exposure to U.S.-listed companies involved in aerospace, defense, homeland security, and government space operations. It is designed to track the SPADE Defense Index, giving investors access to a concentrated portfolio of businesses that support military systems, aircraft production, aerospace components, intelligence, cybersecurity, and related industrial technologies.
Sector weights
Trailing total returns
| Period | PPA |
|---|---|
| YTD | -0.89% |
| 1 month | -7.36% |
| 3 months | -12.28% |
| 1 year | -0.13% |
| 3 years | 25.37% |
| 5 years | 17.31% |
| 10 years | 15.79% |
As of Oct 16, 2026, PPA has an expense ratio of 0.58%, $7.40B in net assets and a distribution yield of 0.43%.
Fund reference data as of Oct 16, 2026. Expense ratio and net assets are reported by the fund; returns are total returns and can differ from price change.
Key statistics
The headline figures for PPA.
What the numbers say
CleaRank Financial AI's reading of PPA's holdings, performance and risks.
The Invesco Aerospace & Defense ETF (PPA) holds net assets of $7,396,231,168, with an expense ratio of 0.58%, translating to a cost of $58.00 per $10,000 invested.
The fund's strategy is to provide diversified exposure to U.S.-listed companies involved in aerospace, defense, homeland security, and government space operations, tracking the SPADE Defense Index. This results in a highly concentrated portfolio within the Industrials sector, accounting for 90.36% of its holdings. The fund's overview highlights its focus on companies supporting military systems, aircraft production, and advanced technologies, making it a sector-specific vehicle for investors interested in this strategically important industrial segment.
AI analysis and technicals
CleaRank's score and reasoning, the indicators behind it, and what the price moves with.
Momentum checks
1/3RSI not overbought or oversold ›
The 14-day RSI is 42.7, in neutral territory.RSI above 50 ›
An RSI of 42.7 is below the 50 midpoint, so sellers have had the upper hand over the last 14 days.MACD line above zero ›
The MACD line is negative, so the 12-day average is below the 26-day average.
CleaRank AI analysis of PPA
The score, the reasoning behind it, and what could move the price next.
- Watch for a sustained break above the 50-day and 200-day SMAs as a signal of trend reversal.
Technical indicators
Momentum and trend for PPA, from its daily closes.
As of October 16, 2026, with PPA at $155.93, its 14-day RSI is 42.7 (neutral territory), its 50-day simple moving average is $164.99 and its 200-day is $171.23.
Calculated by CleaRank on daily closes as of October 16, 2026: Wilder's 14-day RSI, 50- and 200-day simple moving averages, MACD line (12, 26).
What PPA moves with
Correlation of daily returns over one year: +1 moves in step, 0 has no link, -1 moves the opposite way.
As of October 16, 2026, PPA's 1-year correlation of daily returns is +0.69 with S&P 500 (SPY), +0.61 with Nasdaq 100 (QQQ), +0.31 with Bitcoin (BTC) and +0.26 with gold (XAU).
A trade plan, if you want one
Entry, stop and target levels from the moving averages and recent volatility. Educational, not advice.
PPA trade plan
Entry, stop and target levels, sized to your account. Change the bias or the risk and every level updates.
Entry Strategies pick an entry style
Risk management
Profit targets (Based on Conservative Entry)
These levels come from PPA's moving averages and recent volatility, not from a forecast. Educational levels, not financial advice; the full disclaimer is at the foot of the page.
Risk profile
How much PPA tends to move, against the market and on its own.
The long record
PPA's worst falls and recoveries, what $10,000 became, and which months have been kind to it.
Track record checks
4/4Average daily move under 2% ›
The price has moved 0.82% on an average day (30-day standard deviation of daily returns).Recovered from its worst fall ›
The worst fall was 39.2%, from February 2020 to March 2020, regained by April 2021.Most 1-year holds ended higher ›
83% of 1-year holding periods in the last 10 years ended with a gain.Beat the S&P 500 since the chart begins ›
$10,000 invested in October 2016 is now worth $44,608, against $42,525 in the S&P 500 (SPY).
PPA Drawdowns & Recovery
As of October 16, 2026, PPA's worst peak-to-trough fall over the last 10 years with dividends reinvested was -39.2% (February 2020 to March 2020); it regained that peak by April 2021, 13 months after the low, and 83% of 1-year holding periods ended with a gain.
From weekly closing values with dividends reinvested. A drawdown is the fall from the highest value reached so far to a later low.
Growth of $10,000
What $10,000 put into PPA in October 2016 is worth now, against the same amount in the S&P 500.
Against the market: PPA beat the S&P 500 over this period: $44,608 against $42,525.
A $10,000 investment in PPA in October 2016 would be worth about $44,608 today with dividends reinvested, compared with about $42,525 for the same investment in the S&P 500 benchmark (also with dividends reinvested).
Seasonal patterns
Which calendar months have been kind to PPA, and which have not.
Strongest month, November: an average of +4.70%, up in 8 of 10 years.
Weakest month, March: an average of -2.18%, up in 4 of 10 years.
This month, October: has averaged +0.80%, up in 6 of 9 years. Past seasonality does not repeat on schedule.
Over the last 10 years, PPA's strongest calendar month has been November (average +4.70%, up in 8 of 10 years) and its weakest March (average -2.18%, up in 4 of 10 years).
Average return for each calendar month over the last 10 years, from weekly closing prices with dividends included.
Long-term scenarios
Thousands of simulated paths from the price history. A range of outcomes, not a forecast.
Monte Carlo projection
Thousands of simulated paths for $10,000 in PPA, from its own past volatility. The shaded area holds 80% of them.
CleaRank's 10-year Monte Carlo simulation projects that a $10,000 investment in PPA today could grow to about $24,298 by 2036 in the base case, with a 90th-percentile outcome near $56,804 and a 10th-percentile outcome around $10,394 (above the amount invested: over ten years most simulated paths of a rising, moderately volatile asset end higher). The simulation models price only; at today's 0.43% yield, dividends would add to these figures. Projections are statistical simulations, not guarantees.
PPA 2030 Scenarios (Monte Carlo)
The same simulation in share prices, year by year.
CleaRank's simulation projects a price near $222 for PPA by 2030 in the base case, from $156 today (1.4x over 4 years). The 10th-percentile path ends near $130. These are outcomes of a Monte Carlo simulation run on PPA's historical return distribution, not price targets, and they assume no dividends are reinvested.
| Year | 10th percentile | Base case | 90th percentile | range base today |
|---|---|---|---|---|
| 2027 | $130 | $170 | $223 | |
| 2028 | $127 | $186 | $272 | |
| 2029 | $128 | $204 | $324 | |
| 2030 | $130 | $222 | $381 | |
| 2031 | $133 | $243 | $443 |
Method: a lognormal simulation of PPA's own volatility and capped historical trend, re-run daily; base case is the median path, the outer columns the 10th and 90th percentiles.
Questions people ask
Answered from the figures on this page, as of October 16, 2026.