PPA vs XAR: holdings overlap, shared companies and scores

As of September 11, 2026, PPA and XAR overlap 49.3% by weight. Invesco Aerospace & Defense ETF (PPA): U.S. aerospace and defense contractors. State Street SPDR S&P Aerospace & Defense ETF (XAR): U.S. aerospace and defense companies.

Updated September 11, 2026

How much do PPA and XAR overlap?

As of September 11, 2026, PPA and XAR overlap 49.3% by weight.

73% of PPA is already inside XAR.

84% of XAR is already inside PPA.

PPA holds 61 companies and XAR holds 46; 35 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 XAR?

As of September 11, 2026, ETF Copilot scores PPA 3.9 out of 10 and XAR 4.8 out of 10.

They differ most on Growth: PPA 2.9 and XAR 7.9.

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

PPA vs XAR — ETF Copilot factor scores, 0–10
Factor	PPA	XAR
Growth	2.9	7.9
Valuation	1.9	2.1
Risk	2.8	1.8
Quality	1.8	0.6
Return	8.4	8.4

XAR is the cheaper of the two at 0.35% 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, XAR charges 0.35% a year, yields 0.83% and holds $5.7B in assets across 46 positions.

PPA vs XAR — cost, income and size
Measure	PPA	XAR
Expense ratio	0.58%	0.35%
Dividend yield	1.20%	0.83%
Assets under management	$7.8B	$5.7B
Holdings	61	46

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 XAR 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.

XAR trades at 33.8 times earnings, against its own median of 24.4, and is more expensive than 89% of its own 114 monthly readings since 2017.

What moved PPA and XAR 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.

XAR fell 3.1% in the week to September 11, 2026. The holdings that moved it most were Axon Enterprise (−10.9%), Howmet Aerospace (−11.9%) and Karman (−12.9%); Ducommun (+3.7%) pushed the other way.

What do PPA and XAR each hold?

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

54% of PPA is its ten largest holdings.

What's inside XAR: Tech 2%.

31% of XAR is its ten largest holdings.

Compare with similar funds

Cite this

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