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% |
Price history from exchange data. Dividend yields from reported distributions; some earlier years are derived from total-return vs price-return data or are ETFHub estimates. AUM history is an ETFHub estimate modelled from current assets and annual returns (fund flows not reflected) and may differ from official fund records. Data as of October 2026.
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