MDY vs PPA: how much do they overlap?
SPDR S&P MIDCAP 400 ETF Trust (MDY) · Invesco Aerospace & Defense ETF (PPA)
overlap by weight · 17 shared holdings
MDY: 400 holdings (as of 09-Jul-2026) · PPA: 60 holdings (as of 2026-04-30)
Note: the two funds' latest official filings have different dates, which can understate overlap slightly for funds tracking similar indexes.
Low overlap
What this means
MDY and PPA hold mostly different stocks. Combining them genuinely spreads your exposure across different parts of the market.
Overlap by weight sums the smaller of the two funds' weights for every stock they both hold — it answers "how much of my money is in the same stocks either way?" See methodology.
Top shared holdings
| Company | Ticker | in MDY | in PPA |
|---|---|---|---|
| Carpenter Technology Corporation | CRS | 0.82% | 1.36% |
| Curtiss-Wright Corporation | CW | 0.78% | 1.73% |
| Ati Inc | ATI | 0.71% | 1.36% |
| Woodward Inc. | WWD | 0.67% | 1.29% |
| Bwx Technologies Inc. | BWXT | 0.48% | 1.22% |
| Ttm Technologies Inc. | TTMI | 0.43% | 0.67% |
| Moog Inc. Class A | MOG.A | 0.32% | 0.62% |
| Caci International Inc Class A | CACI | 0.3% | 0.89% |
| Kratos Defense & Security Solutions Inc. | KTOS | 0.25% | 1% |
| Oshkosh Corp | OSK | 0.25% | 0.3% |
FAQ
How much do MDY and PPA overlap?
MDY and PPA have a 6% overlap by weight, sharing 17 holdings (out of 400 in MDY and 60 in PPA), based on official issuer holdings as of 09-Jul-2026.
What does 6% overlap mean?
MDY and PPA hold mostly different stocks. Combining them genuinely spreads your exposure across different parts of the market.
Which stocks do MDY and PPA both hold?
The largest shared positions are Carpenter Technology Corporation, Curtiss-Wright Corporation, Ati Inc, Woodward Inc., Bwx Technologies Inc.. The full list of top shared holdings with weights in each fund is shown on this page.