PPA vs VAW: holdings overlap, shared companies and scores
As of October 28, 2026, PPA and VAW overlap 0.0% by weight. Invesco Aerospace & Defense ETF (PPA): U.S. aerospace and defense contractors. Vanguard Materials ETF (VAW): U.S. materials companies.
Updated October 28, 2026
Where PPA and VAW trade against their own history
PPA trades at 30.5 times earnings, against its own median of 24.2, and is more expensive than 80% of its own last 9 years.
VAW trades at 21.5 times earnings, against its own median of 19.3, and is more expensive than 60% of its own last 9 years.
What moved PPA this week
PPA rose 1.4% in the week to October 28, 2026. The holdings that moved it most were Lockheed Martin (+14.2%), Honeywell Aerospace (+9.0%) and L3harris Technologies (+5.3%); Boeing (−13.1%) pushed the other way.
What do PPA and VAW each hold?
What's inside PPA: Tech 9%, AI 2%.
61% of PPA is its ten largest holdings.
What's inside VAW: Tech 0%.
58% of VAW is its ten largest holdings.
How much do PPA and VAW overlap? 0.0% by weight
As of October 28, 2026, PPA and VAW overlap 0.0% by weight.
0% of PPA is already inside VAW.
0% of VAW is already inside PPA.
PPA holds 67 companies and VAW holds 110; 0 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 PPA and VAW? 5.2 and 4.3 out of 10
As of October 28, 2026, ETF Copilot scores PPA 5.2 out of 10 and VAW 4.3 out of 10.
They differ most on Return: PPA 8.3 and VAW 3.4.
The five factor scores behind them are set out below, 0–10 and higher is better, ranked against every US equity ETF we track.
| Factor | PPA | VAW |
|---|---|---|
| Growth | 6.4 | 5.3 |
| Value | 1.7 | 4.6 |
| Risk | 5.3 | 4.6 |
| Quality | 2.1 | 3.4 |
| Return | 8.3 | 3.4 |
VAW is the cheaper of the two at 0.09% a year
As of October 28, 2026, PPA charges 0.58% a year, yields 0.39% and holds $7.4B in assets across 67 positions.
As of October 28, 2026, VAW charges 0.09% a year, yields 1.40% and holds $4.5B in assets across 110 positions.
| Measure | PPA | VAW |
|---|---|---|
| Expense ratio | 0.58% | 0.09% |
| Dividend yield | 0.39% | 1.40% |
| Assets under management | $7.4B | $4.5B |
| Holdings | 67 | 110 |
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.
Compare with similar funds
Cite this
ETF Copilot, “PPA vs VAW holdings overlap and scores”, as of October 28, 2026.
https://etf-copilot.com/compare/ppa-vs-vaw
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