PPA vs VTI
Invesco Aerospace & Defense ETF vs Vanguard Morningstar Total Stock Market ETF
Which is better, PPA or VTI?
Mid Cap Blend against Large Cap Blend.
VTI has a lower expense ratio. PPA led over 3Y, 5Y and the full window, VTI over 1Y. VTI is less concentrated, with 33.3% of the fund in its ten largest positions against 54.1%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | PPA | VTI |
|---|---|---|
| Expense Ratio | 0.58% | 0.03%Best |
| AUM | $7.9B | $666.9B |
| Dividend Yield | 0.38% | 1.03% |
| Holdings | 63 | 3,543 |
| YTD Return | -1.03% | +13.60%Best |
| 1Y Return | +5.82% | +18.17%Best |
| 3Y Return (annualized) | +26.83%Best | +23.04% |
| 5Y Return (annualized) | +17.45%Best | +12.14% |
| Volatility (annualized) | 18.3% | 15.5%Best |
| Max Drawdown | -57.8% | -56.6%Best |
| $10,000 over 5 years | $22,349Best | $17,734 |
| Top 10 Weight | 54.1% | 33.3%Best |
| Fund Family | Invesco (US) | Vanguard (US) |
| Category | Equity | Equity |
| Style | Mid Cap Blend | Large Cap Blend |
| Inception | Oct 26, 2005 | May 24, 2001 |
Volatility and max drawdown are measured over the window both funds cover: Oct 26, 2005 to Sep 25, 2026 (20.9 years).
PPA vs VTI growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 20.9 years both funds cover.
PPA vs VTI Performance
Invesco Aerospace & Defense ETF (PPA) is an ETF from Invesco (US) and Vanguard Morningstar Total Stock Market ETF (VTI) is an ETF from Vanguard (US). Over the past year PPA returned +5.82% while VTI returned +18.17%. Year to date, PPA is down 1.03% versus a gain of 13.60% for VTI.
Over three years, PPA compounded at +26.83% per year against +23.04% for VTI; over five years the annualized figures are +17.45% and +12.14% respectively. Across the full 21-year window we track, PPA has the edge at +12.15% annualized vs +9.73%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PPA has been the more volatile fund, with annualized monthly volatility of 18.3% compared with 15.5% for VTI. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -57.8% for PPA and -56.6% for VTI. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.84. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
PPA charges 0.58% per year while VTI charges 0.03%. On a $10,000 position that is $58 vs $3 annually, a gap of $55 per year that compounds over a long holding period. On income, PPA currently yields 0.38% against 1.03% for VTI.
Holdings Overlap
96.0% of PPA's money is in holdings VTI also owns. 3.8% of VTI's money is in holdings PPA also owns.
Most of PPA is already inside VTI. Owning both mostly buys the same companies twice.
59 positions in common, counted across the 62 positions we hold weights for in PPA and 3,463 in VTI, against full books of 63 and 3,543.
What only one of them owns
Our book lists 1,103 positions for VTI that do not appear in our book for PPA (93.7% of the fund), and 1 for PPA that do not appear in VTI (0.1%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in PPA | Weight in VTI | Difference |
|---|---|---|---|
| RTXRaytheon Co. | 8.38% | 0.40% | 7.98% |
| GEGeneral Electric Co. | 6.91% | 0.52% | 6.39% |
| BABoeing Co | 6.88% | 0.24% | 6.64% |
| LMTLockheed Martin Corp | 6.66% | 0.19% | 6.47% |
| GDGeneral Dynamics Corp. | 5.01% | 0.14% | 4.87% |
| NOCNorthrop Grumman Corp. | 4.95% | 0.11% | 4.84% |
| HWMHowmet Aerospace Inc. | 4.05% | 0.16% | 3.89% |
| PHParker-Hannifin Corp. | 3.87% | 0.17% | 3.70% |
| LHXL3Harris Technologies Inc. | 3.83% | 0.07% | 3.76% |
| AXONAxon Enterprise Inc | 3.58% | 0.06% | 3.52% |
96.0% of PPA is already inside VTI.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, PPA or VTI?
PPA has an expense ratio of 0.58% while VTI charges 0.03%. VTI is the cheaper option, by $55 a year on a $10,000 investment.
Which performed better, PPA or VTI?
Over the past year PPA returned +5.82% vs +18.17% for VTI, so VTI leads on 1-year performance. Over the longest common window we track (21 years), PPA annualized +12.15% vs +9.73% for VTI. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, PPA or VTI?
PPA has been the more volatile fund at 18.3% annualized versus 15.5% for VTI. Worst drawdown: PPA -57.8% vs VTI -56.6%.
Should I hold both PPA and VTI?
PPA and VTI have a monthly-return correlation of 0.84, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between PPA and VTI?
96.0% of PPA's money is in holdings VTI also owns. 3.8% of VTI's is in holdings PPA also owns. They hold 59 positions in common, counted across the 62 positions we hold weights for in PPA and 3,463 in VTI.
Which pays a higher dividend, PPA or VTI?
PPA yields 0.38% while VTI yields 1.03%, so VTI currently pays the higher dividend yield.
Is VTI better than PPA?
VTI has a lower expense ratio. PPA led over 3Y, 5Y and the full window, VTI over 1Y. VTI is less concentrated, with 33.3% of the fund in its ten largest positions against 54.1%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.