PPA vs XLI: holdings overlap, shared companies and scores

As of September 11, 2026, PPA and XLI overlap 30.1% by weight. Invesco Aerospace & Defense ETF (PPA): U.S. aerospace and defense contractors. State Street Industrial Select Sector SPDR ETF (XLI): U.S. industrial sector.

Updated September 11, 2026

How much do PPA and XLI overlap?

As of September 11, 2026, PPA and XLI overlap 30.1% by weight.

66% of PPA is already inside XLI.

31% of XLI is already inside PPA.

PPA holds 61 companies and XLI holds 82; 16 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 XLI?

As of September 11, 2026, ETF Copilot scores PPA 3.9 out of 10 and XLI 3.8 out of 10.

They differ most on Quality: PPA 1.8 and XLI 4.4.

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

PPA vs XLI — ETF Copilot factor scores, 0–10
Factor	PPA	XLI
Growth	2.9	2.2
Valuation	1.9	1.7
Risk	2.8	3.3
Quality	1.8	4.4
Return	8.4	6.9

XLI 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, XLI charges 0.08% a year, yields 1.36% and holds $31.7B in assets across 82 positions.

PPA vs XLI — cost, income and size
Measure	PPA	XLI
Expense ratio	0.58%	0.08%
Dividend yield	1.20%	1.36%
Assets under management	$7.8B	$31.7B
Holdings	61	82

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 XLI 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.

XLI trades at 28.8 times earnings, against its own median of 21.5, and is more expensive than 92% of its own 114 monthly readings since 2017.

What moved PPA and XLI 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.

XLI fell 1.3% in the week to September 11, 2026. The holdings that moved it most were Howmet Aerospace (−11.9%), General Electric (−2.9%) and Uber Technologies (−5.6%); Eaton (+7.1%) pushed the other way.

What do PPA and XLI each hold?

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

54% of PPA is its ten largest holdings.

What's inside XLI: Tech 4%, AI 1%.

40% of XLI is its ten largest holdings.

Compare with similar funds

Cite this

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