PPA vs VAW: holdings overlap, shared companies and scores
As of September 11, 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 September 11, 2026
How much do PPA and VAW overlap?
As of September 11, 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 61 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?
As of September 11, 2026, ETF Copilot scores PPA 3.9 out of 10 and VAW 3.6 out of 10.
They differ most on Return: PPA 8.4 and VAW 3.0.
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 | 2.9 | 5.2 |
| Valuation | 1.9 | 4.9 |
| Risk | 2.8 | 2.6 |
| Quality | 1.8 | 1.9 |
| Return | 8.4 | 3.0 |
VAW is the cheaper of the two at 0.09% a year
As of September 11, 2026, PPA charges 0.58% a year, yields 1.20% and holds $7.8B in assets across 61 positions.
As of September 11, 2026, VAW charges 0.09% a year, yields 1.75% and holds $4.3B in assets across 110 positions.
| Measure | PPA | VAW |
|---|---|---|
| Expense ratio | 0.58% | 0.09% |
| Dividend yield | 1.20% | 1.75% |
| Assets under management | $7.8B | $4.3B |
| Holdings | 61 | 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.
Where PPA and VAW trade against their own history
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.
VAW trades at 22.2 times earnings, against its own median of 19.7, and is more expensive than 75% of its own 114 monthly readings since 2017.
What moved PPA and VAW 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.
VAW fell 3.3% in the week to September 11, 2026. The holdings that moved it most were Linde (−3.3%), Corteva (−5.3%) and Newmont (−2.8%); Materion (+7.0%) pushed the other way.
What do PPA and VAW each hold?
What's inside PPA: Tech 11%, AI 2%.
54% of PPA is its ten largest holdings.
What's inside VAW: Tech 0%.
57% of VAW is its ten largest holdings.
Compare with similar funds
Cite this
ETF Copilot, “PPA vs VAW holdings overlap and scores”, as of September 11, 2026.
https://etf-copilot.com/compare/ppa-vs-vaw
Register free to unlock PPA vs VAW prices and holdings on ETF Copilot.
Register free →