PAVEvsPPA

Global X U.S. Infrastructure Development ETF or Invesco Aerospace & Defense ETF, side by side from their own SEC filings. 12% of their stock holdings are the same at the same weight, across 6 stocks in both. PAVE costs 0.47% a year against 0.58% for PPA, $11 a year less on $10,000. Over the last twelve months PAVE returned +36.9% and PPA +20.0%.

12%of the two portfolios is the same stocks at the same weight
PAVE13% in stocks the other holds too
PPA15% in stocks the other holds too
stocks in bothstocks only in that fundbonds, cash and unmatched shares

The two funds

From each fund's latest N-PORT filing and its prospectus.

PAVEPPAYearly cost0.47%0.58%Net assets$13.5B$8.3BPositions10164Last 12 months+36.9%+20.0%3 years, a year+28.3%+27.6%5 years, a year+17.1%+19.1%Largest holdingPWR 4.2%RTX 8.3%Main sectorIndustrials 74%Industrials 87%Holdings as ofMay 31, 2026Jul 31, 2026

Returns are total returns with dividends reinvested, from the funds’ own monthly figures; “(price)” marks a fund whose filing record is younger than a year, whose twelve months are its price change. The stronger figure in each row is set in bold. Past returns say what happened, not what will.

Growth of $100

Both funds from September 2019, the first month both report, dividends reinvested.

PAVE$382PPA$276
September 2019May 2026

What they both hold

6 stocks are in both funds: 13% of PAVE and 15% of PPA. The biggest shared positions:

Stockin PAVEin PPA
HWM3.3%4.5%PH2.5%3.7%ETN3.3%2.1%ATI1.3%1.6%CRS1.3%1.6%WWD1.1%1.3%

Only in PAVE

Its biggest stocks the other fund does not hold.

  1. PWRQuanta Services4.2%
  2. CSXCSX Corporation3.5%
  3. TTTrane Technologies3.2%
  4. UNPUnion Pacific Corporation3.1%
  5. NUENucor3.1%
  6. ROKRockwell Automation2.9%

Only in PPA

Its biggest stocks the other fund does not hold.

  1. RTXRTX Corporation8.3%
  2. GEGE Aerospace7.1%
  3. BABoeing6.9%
  4. LMTLockheed Martin6.6%
  5. GDGeneral Dynamics5.0%
  6. NOCNorthrop Grumman4.8%

More comparisons

PAVE vs XLIPAVE vs VISPAVE vs XMMOAIRR vs PAVEIJK vs PAVEITA vs PPAPPA vs SHLDPPA vs XLI

From each fund’s Form N-PORT (PAVE: May 2026, PPA: July 2026) and prospectus, via the SEC’s public data sets. Overlap counts only the stocks we can match to a listing: stock by stock, the smaller of the two weights, added up.