Invesco Aerospace & Defense ETF

Invesco Aerospace & Defense ETF (PPA) is a passively managed fund issued by Invesco, tracking the SPADE Defense Index — a benchmark of companies involved in the development, manufacture, and support of defense, aerospace, homeland-security, and space systems. Launched in 2005, PPA is a broader and more evenly weighted defense exposure than ITA, spreading weight more evenly across the primes rather than concentrating in a single top holding. In the PXS map, PPA expresses the Physical AI defense/autonomy layer alongside ITA, giving a second read on where defense-and-aerospace index weight lands across the mapped companies. Coverage is limited to direct, issuer-reported positions in already-mapped companies, not the complete portfolio, and this is a research map rather than a recommendation. PPA is most useful for the breadth it adds to the machine's sovereign-and-industrial Physical AI exposure. Its largest mapped positions are RTX (9.08%), Northrop Grumman (4.73%), Howmet Aerospace (4.05%), and L3Harris (3.80%) — a broader, more evenly weighted defense spread than ITA.