Is PPA a good investment?

Invesco Aerospace & Defense ETF (PPA) is a industrials and materials ETF. As of September 11, 2026, ETF Copilot scores PPA 3.9 out of 10 — highest on Return (8.4), lowest on Quality (1.8). It trades at 30.8 times earnings, against its own median of 24.1. Its ten largest holdings are 54% of the fund.

Updated September 11, 2026

How is PPA rated? ETF Copilot scores Invesco Aerospace & Defense ETF (PPA) 3.9 out of 10

As of September 11, 2026, ETF Copilot scores Invesco Aerospace & Defense ETF (PPA) 3.9 out of 10 overall.

ETF Copilot scores (0–10 scale, higher is better):

Overall: 3.9 / 10
Growth: 2.9 / 10
Valuation: 1.9 / 10
Risk: 2.8 / 10
Quality: 1.8 / 10
Return: 8.4 / 10

What is PPA's expense ratio? 0.58% 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.

Invesco Aerospace & Defense ETF (PPA) — cost, income and size
Measure	PPA
Expense ratio	0.58%
Dividend yield	1.20%
Assets under management	$7.8B
Holdings	61

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.

What stands out in PPA's data

U.S. aerospace and defense contractors, weighted by market cap.

Profit margins trail most peers — a headwind that higher revenue alone has to offset.

EBITDA margin of 18.6% sits behind most peers; the fund's own history shows 8.9%, so the current figure is a step up from its past.

A sector bet on defense contractors — real-economy exposure with a margin trade-off.

Why did PPA move this week? It fell 2.3% in the week to September 11, 2026 — Howmet Aerospace and Axon Enterprise drove it

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.

Is PPA expensive right now? It trades at 30.8 times earnings, against its own median of 24.1

As of September 11, 2026, PPA is more expensive than 84% of its own 114 monthly readings since 2017 — 96 of those months were cheaper than today.

Trailing twelve-month, computed by ETF Copilot from the fund's holdings rather than quoted from a data provider, and rebuilt nightly.

What's inside PPA? 11% Tech

What's inside PPA: Size (Large 74%, Mid 22%, Small 4%); Geography (International 7%, US 94%); Tech 11.2%; AI 1.8%; Semiconductors 0.1%.

What are PPA's top holdings? The ten largest are 54% of the fund

Raytheon Technologies, Boeing, General Electric, Lockheed Martin, General Dynamics, Northrop Grumman, Howmet Aerospace, Parker-Hannifin, L3harris Technologies and Elbit Systems are PPA's largest holdings, in that order.

More concentrated than 57% of Industrials & Materials ETFs.

Half of PPA's weight sits in its 9 largest positions, and once those weights are taken into account it behaves like 26 equally weighted holdings.

Cite this

ETF Copilot, “Invesco Aerospace & Defense ETF (PPA) scores and holdings analysis”, as of September 11, 2026.
https://etf-copilot.com/etf/ppa