PPA vs XLB: holdings overlap, shared companies and scores
As of September 11, 2026, PPA and XLB overlap 0.0% by weight. Invesco Aerospace & Defense ETF (PPA): U.S. aerospace and defense contractors. State Street Materials Select Sector SPDR ETF (XLB): U.S. materials sector.
Updated September 11, 2026
How much do PPA and XLB overlap?
As of September 11, 2026, PPA and XLB overlap 0.0% by weight.
0% of PPA is already inside XLB.
0% of XLB is already inside PPA.
PPA holds 61 companies and XLB holds 25; 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 XLB?
As of September 11, 2026, ETF Copilot scores PPA 3.9 out of 10 and XLB 3.9 out of 10.
They differ most on Return: PPA 8.4 and XLB 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 | XLB |
|---|---|---|
| Growth | 2.9 | 5.9 |
| Valuation | 1.9 | 5.3 |
| Risk | 2.8 | 3.1 |
| Quality | 1.8 | 1.7 |
| Return | 8.4 | 3.0 |
XLB is the cheaper of the two at 0.08% 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, XLB charges 0.08% a year, yields 2.15% and holds $8.5B in assets across 25 positions.
| Measure | PPA | XLB |
|---|---|---|
| Expense ratio | 0.58% | 0.08% |
| Dividend yield | 1.20% | 2.15% |
| Assets under management | $7.8B | $8.5B |
| Holdings | 61 | 25 |
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 XLB 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.
XLB trades at 23.0 times earnings, against its own median of 21.0, and is more expensive than 75% of its own 114 monthly readings since 2017.
What moved PPA and XLB 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.
XLB fell 3.2% in the week to September 11, 2026. The holdings that moved it most were Linde (−3.3%), Corteva (−5.3%) and Newmont (−2.8%); Martin Marietta Materials (+0.2%) pushed the other way.
What do PPA and XLB each hold?
What's inside PPA: Tech 11%, AI 2%.
54% of PPA is its ten largest holdings.
59% of XLB is its ten largest holdings.
Compare with similar funds
Cite this
ETF Copilot, “PPA vs XLB holdings overlap and scores”, as of September 11, 2026.
https://etf-copilot.com/compare/ppa-vs-xlb
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