AIRR vs PPA: holdings overlap, shared companies and scores

As of September 11, 2026, AIRR and PPA overlap 4.8% by weight. First Trust RBA American Industrial RenaissanceTM ETF (AIRR): U.S. industrial and banking stocks. Invesco Aerospace & Defense ETF (PPA): U.S. aerospace and defense contractors.

Updated September 11, 2026

How much do AIRR and PPA overlap?

As of September 11, 2026, AIRR and PPA overlap 4.8% by weight.

16% of AIRR is already inside PPA.

5% of PPA is already inside AIRR.

AIRR holds 57 companies and PPA holds 61; 8 are in both.

Computed by ETF Copilot from both funds' holdings rather than quoted from a data provider, and rebuilt nightly.

How does ETF Copilot score AIRR and PPA?

As of September 11, 2026, ETF Copilot scores AIRR 5.0 out of 10 and PPA 3.9 out of 10.

They differ most on Growth: AIRR 8.4 and PPA 2.9.

The five factor scores behind them are set out below, 0–10 and higher is better, ranked against every US equity ETF we track.

AIRR vs PPA — ETF Copilot factor scores, 0–10
Factor	AIRR	PPA
Growth	8.4	2.9
Valuation	1.0	1.9
Risk	2.2	2.8
Quality	1.0	1.8
Return	8.8	8.4

PPA is the cheaper of the two at 0.58% a year

As of September 11, 2026, AIRR charges 0.69% a year, yields 0.69% and holds $9.5B in assets across 57 positions.

As of September 11, 2026, PPA charges 0.58% a year, yields 1.20% and holds $7.8B in assets across 61 positions.

AIRR vs PPA — cost, income and size
Measure	AIRR	PPA
Expense ratio	0.69%	0.58%
Dividend yield	0.69%	1.20%
Assets under management	$9.5B	$7.8B
Holdings	57	61

Expense ratio, dividend yield and assets under management are reported by the fund and refreshed daily. Every other figure on this page is computed by ETF Copilot.

Where AIRR and PPA trade against their own history

AIRR trades at 26.4 times earnings, against its own median of 16.9, and is more expensive than 94% of its own 114 monthly readings since 2017.

PPA trades at 30.8 times earnings, against its own median of 24.1, and is more expensive than 84% of its own 114 monthly readings since 2017.

What moved PPA this week

PPA fell 2.3% in the week to September 11, 2026. The holdings that moved it most were Howmet Aerospace (−11.9%), Axon Enterprise (−10.9%) and L3harris Technologies (−6.3%); Eaton (+7.1%) pushed the other way.

What do AIRR and PPA each hold?

What's inside AIRR: Tech 3%.

31% of AIRR is its ten largest holdings.

What's inside PPA: Tech 11%, AI 2%.

54% of PPA is its ten largest holdings.

Compare with similar funds

Cite this

ETF Copilot, “AIRR vs PPA holdings overlap and scores”, as of September 11, 2026.
https://etf-copilot.com/compare/airr-vs-ppa