PPA vs SPMO ETF holdings comparison
Invesco Aerospace & Defense ETF (PPA) · Invesco S&P 500 Momentum ETF (SPMO)
PPA and SPMO overlap by 8.4% by portfolio weight. The remaining 91.6 percentage points are not counted as shared holdings weight by this calculation. They share 12 stocks; the largest shared position is General Electric Co. (GE), contributing 1.64% to the overlap.
The holdings dates differ. This can slightly understate overlap for funds tracking similar indexes.
What this means
PPA and SPMO share a smaller portion of their portfolio weight in the same underlying stocks. OverlapCheck labels this "low holdings overlap" using house ranges of 70% or more, 30% to under 70%, and under 30%. These descriptive ranges are not industry standards or investment guidance. Holdings overlap does not measure correlation, volatility, geographic or factor exposure, fees, or suitability.
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.
This comparison covers normalized equity positions represented in the dataset. Cash, derivatives, options, structured notes, and other non-equity assets are not included, so the result is not a complete comparison of every asset or risk in either fund.
Top shared holdings
| Company | Ticker | in PPA | in SPMO |
|---|---|---|---|
| General Electric Co. | GE | 7.87% | 1.64% |
| RTX Corp. | RTX | 7.15% | 1.40% |
| Amphenol Corp. | APH | 2.34% | 1.30% |
| Palantir Technologies Inc. | PLTR | 1.23% | 1.39% |
| Howmet Aerospace Inc. | HWM | 4.19% | 0.55% |
| Lockheed Martin Corp. | LMT | 6.41% | 0.50% |
| General Dynamics Corp. | GD | 4.54% | 0.45% |
| L3Harris Technologies, Inc. | LHX | 3.77% | 0.42% |
| Parker-Hannifin Corp. | PH | 3.75% | 0.39% |
| Northrop Grumman Corp. | NOC | 4.47% | 0.35% |
Holdings only in PPA or SPMO
PPA has 48 fund-only positions representing approximately 52.3 percentage points of reported exposure; SPMO has 87 fund-only positions representing approximately 91.5 percentage points of reported exposure. These are positions whose normalized security identifiers appear in one issuer file but not the other.
Largest positions only in PPA
| Company | Ticker | Weight |
|---|---|---|
| Boeing Co. (The) | BA | 9.14% |
| Honeywell International Inc. | HON | 4.40% |
| Elbit Systems Ltd. | ESLT | 3.59% |
| Rocket Lab Corp. | RKLB | 2.78% |
| TransDigm Group Inc. | TDG | 2.63% |
| Eaton Corp. PLC | ETN | 2.36% |
| Curtiss-Wright Corp. | CW | 1.73% |
| Axon Enterprise, Inc. | AXON | 1.68% |
| ATI Inc. | ATI | 1.36% |
| Carpenter Technology Corp. | CRS | 1.36% |
Largest positions only in SPMO
| Company | Ticker | Weight |
|---|---|---|
| Micron Technology, Inc. | MU | 10.73% |
| NVIDIA Corp. | NVDA | 8.46% |
| Broadcom Inc. | AVGO | 7.58% |
| Alphabet Inc. | GOOGL | 4.81% |
| Advanced Micro Devices, Inc. | AMD | 4.14% |
| Johnson & Johnson | JNJ | 3.85% |
| Alphabet Inc. | GOOG | 3.82% |
| Lam Research Corp. | LRCX | 3.54% |
| Intel Corp. | INTC | 2.95% |
| Exxon Mobil Corp. | XOM | 2.78% |
FAQ
How much do PPA and SPMO overlap?
PPA and SPMO have 8.4% overlap by weight, sharing 12 equity positions (out of 60 in PPA and 99 in SPMO). The official holdings files used are dated 2026-04-30 for PPA and 2026-05-31 for SPMO.
What does 8.4% overlap mean?
PPA and SPMO share a smaller portion of their portfolio weight in the same underlying stocks. OverlapCheck labels this "low holdings overlap" using house ranges of 70% or more, 30% to under 70%, and under 30%. These descriptive ranges are not industry standards or investment guidance. Holdings overlap does not measure correlation, volatility, geographic or factor exposure, fees, or suitability.
Which stocks do PPA and SPMO both hold?
The largest shared positions are General Electric Co., RTX Corp., Amphenol Corp., Palantir Technologies Inc., Howmet Aerospace Inc.. The top shared holdings with weights in each fund are shown on this page.
What holdings are different between PPA and SPMO?
PPA has 48 positions not found in SPMO, while SPMO has 87 positions not found in PPA. The largest fund-only positions and their weights are shown on this page.