Overview
The American defence-industrial base — primes, suppliers and the new defence-tech cohort, around 63 companies from Lockheed to Palantir.
Top Holdings
| Ticker | Holding | Weight |
|---|---|---|
| GE | GE Aerospace | 7.2% |
| RTX | RTX Corp. | 6.8% |
| BA | Boeing Co. | 6.4% |
| LMT | Lockheed Martin | 5.6% |
| PLTR | Palantir Technologies | 5.2% |
| NOC | Northrop Grumman | 4.4% |
| GD | General Dynamics | 4.1% |
| LHX | L3Harris Technologies | 3.6% |
| HWM | Howmet Aerospace | 3.4% |
| AXON | Axon Enterprise | 3.1% |
Fund Details
Investment Thesis
Rearmament is a decade-long structural bid: NATO's 3.5% spending targets, Indo-Pacific tension and drone-age procurement all land on this fund's holdings. PPA's index reaches past the primes into defence-tech — Palantir and Axon beside Lockheed — which is why it has outrun the older ITA over recent years. Multi-year government contracts make earnings unusually visible; valuations already price much of the story.
Who It's For
Investors underwriting the rearmament super-cycle as a dedicated theme, with the modern software-and-drones names included alongside the missile primes.
10-Year History
| Year | Close | % Chg |
|---|---|---|
| 2016 | $44.51 | -- |
| 2017 | $58.75 | +32.0% |
| 2018 | $54.05 | -8.0% |
| 2019 | $71.34 | +32.0% |
| 2020 | $65.64 | -8.0% |
| 2021 | $72.20 | +10.0% |
| 2022 | $74.37 | +3.0% |
| 2023 | $90.73 | +22.0% |
| 2024 | $112.50 | +24.0% |
| 2025 | $135.00 | +20.0% |
| Year | Yield |
|---|---|
| 2016 | 0.90% |
| 2017 | 0.70% |
| 2018 | 0.90% |
| 2019 | 0.70% |
| 2020 | 0.80% |
| 2021 | 0.60% |
| 2022 | 0.60% |
| 2023 | 0.50% |
| 2024 | 0.40% |
| 2025 | 0.40% |
| Year | AUM | % Chg |
|---|---|---|
| 2016 | $0.3B | -- |
| 2017 | $0.6B | +100.0% |
| 2018 | $0.8B | +33.3% |
| 2019 | $1B | +25.0% |
| 2020 | $0.8B | -20.0% |
| 2021 | $1B | +25.0% |
| 2022 | $1.5B | +50.0% |
| 2023 | $2.5B | +66.7% |
| 2024 | $4.5B | +80.0% |
| 2025 | $6.5B | +44.4% |
Historical figures are ETFHub estimates modelled from asset-class return patterns and may differ from official fund records. Data as of September 2026.
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