PPA
Invesco Aerospace & Defense ETF
Invesco Aerospace & Defense Portfolio seeks investment results that correspond to the price and yield of the SPADE(TM) Defense Index, which tracks stocks of companies involved in the defense industry.
Fund Basics
Fund sponsor | Invesco PowerShares |
Category | US Equities |
Asset class | Equity |
Website | link... |
Inception date | Oct 26, 2005 |
Assets (mns) | $738 |
Expense ratio | 59 bp |
Currency | USD |
Sector Breakdown
Fund Structure
Regulation | Open-Ended Fund |
Distributions | Quarterly |
Taxation | 1099 |
Stock selection | Committee |
Weighting | Market Cap |
Smart-beta | No |
Derivatives-based | No |
Options available | Yes |
Currency hedged | No |
Fund of funds | No |
Top 10 Holdings
LOCKHEED MARTIN CORP | 7.7 % |
HONEYWELL INTERNATIONAL INC | 7.7 % |
BOEING CO | 7.4 % |
RAYTHEON TECHNOLOGIES CORPORATION | 7.3 % |
NORTHROP GRUMMAN CORP | 5.5 % |
GENERAL DYNAMICS CORP | 5.1 % |
HARRIS CORP | 4.5 % |
TRANSDIGM GROUP INC | 4.0 % |
BALL CORP | 4.0 % |
JACOBS ENGINEERING GROUP INC | 3.3 % |
Constituent Breakdown
Number of holdings | 54 |
Herfindahl-Hirschman Index | 413 |
Wgt avg mkt cap (mns) | $45,282 |
Large cap (>$10bn) | 68.3% |
Mid cap ($2-10bn) | 29.8% |
Small cap (<$2bn) | 1.9% |
Developed mkts. | 100.0% |
Emerging mkts. | 0.0% |
Country Exposure
UNITED STATES | 97.0 % | |
CANADA | 1.6 % | |
ISRAEL | 1.3 % |
Historical Performance
Standardized Annual Returns (as of 03/31/2021)
YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
---|---|---|---|---|---|---|
7.4% | 46.9% | 13.2% | 9.7% | 16.8% | 15.0% | 12.0% |
Market Correlations
versus... | Beta | R-squared |
S&P 500 | 1.21 | 76% |
MSCI EAFE | 1.22 | 76% |
MSCI Emg Mkts | 0.82 | 43% |
Liquidity Measures
Avg. volume (000) | 42 |
Turnover | 0.4% |
Avg. Bid/Ask (% of price) | 0.08% |
ADV of underlying (mns) | $10,896 |
Technical Indicators
Recent close | $74.51 |
30d moving avg. | $71.70 |
Annualized volatility | 25.5% |
Relative strength (RSI) | 65 |
Short interest (ETF) | 0.1% |
Short interest (underlying) | 2.2% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
Ticker | Fund Name | Overlap vs. PPA |
Expenses vs. PPA |
ALTAR Score™ vs. PPA |
---|---|---|---|---|
ITA | iShares U.S. Aerospace & Defense ETF | 55.5% | -17 bp | +0.3% |
SHLD | Victoryshares Protect America ETF | 54.8% | +1 bp | +0.7% |
ROKT | SPDR S&P Kensho Final Frontiers ETF | 49.2% | -14 bp | -0.5% |
XAR | SPDR S&P Aerospace & Defense ETF | 47.6% | -24 bp | -0.5% |
FEDX | Emles Federal Contractors ETF | 41.1% | +1 bp | +4.7% |
FITE | SPDR Kensho Future Security ETF | 29.7% | -14 bp | -2.0% |
XLI | Industrial Select Sector SPDR Fund | 24.7% | -47 bp | -0.8% |
VIS | Vanguard Industrials Index Fund | 24.1% | -49 bp | -1.0% |
ARKX | ARK Space Exploration & Innovation ETF | 22.6% | +16 bp | -2.5% |
FIDU | Fidelity MSCI Industrials Index ETF | 21.9% | -51 bp | -0.7% |
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Results & Estimates
2016 | 2017 | 2018 | 2019 | 2020 | 2021E | 2022E | ||
---|---|---|---|---|---|---|---|---|
Sales per share | -- | -- | -- | -- | -- | -- | -- | |
change (%) | -- | -- | -- | -- | -- | -- | -- | |
Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
change (%) | -- | -- | -- | -- | -- | -- | -- | |
Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
change (%) | -- | -- | -- | -- | -- | -- | -- | |
Book value per share | -- | -- | -- | -- | -- | -- | -- | |
change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
2020 | 2021E | Fwd Est | 2022E | |
Price-to-sales | --x | --x | --x | --x |
Price-to-earnings | --x | --x | --x | --x |
Price-to-cash flow | --x | --x | --x | --x |
Price-to-growth | --x | --x | --x | --x |
Price-to-book value | --x | --x | --x | --x |
Yield | --% | --% | --x | --% |
Based on closing prices from 4/14/2021
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Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
PPA
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Fund Rating
Our measure of an ETF's overall investment merit
ALTAR Score™
PPA
5.3%
Cat. Avg
4.5%
Fund Category: US Equities
Avg. Return on Equity | --% |
Divided by: Fwd. P/BV | --x |
Less: Expenses | -- bp |
Equals: ALTAR Score™ | 5.3% |
Recommendation
OVERWEIGHT
Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.
Category Overview
There are 771 funds in the US Equities category, with an average ALTAR Score™
of 4.5% and a standard deviation of
2.1%. PPA's ALTAR Score™ is approximately
0.4 standard deviations
above
the category average. This places PPA in the 64th percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
PPA
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Market Activity
Latest price | |
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