
See exactly how PPA's revenue becomes profit — a Sankey that traces revenue (and its reported segments) through gross profit, operating expenses, and net profit, with the year-over-year change on every line.
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The fund generally will invest at least 90% of its total assets in securities that comprise the underlying index. The underlying index is composed of common stocks of companies that are systematically important to the defense sector and are involved with the development, manufacture, operation and support of U.S. defense, military, national/homeland security, and government space operations. The fund is non-diversified.

The First Trust Indxx Aerospace & Defense ETF (MISL) offers diversified exposure to surging U.S. defense spending, especially amid escalating demand for munitions and advanced defense systems. FY 2027 defense procurement requests show unprecedented growth, with munitions up 185% and missile orders far exceeding historical averages, supporting robust industry backlogs.

Piramal Pharma Solutions Advances Sustainability Efforts with Solar Power Plant Addition at Morpeth, UK SitePR NewswireMUMBAI, India, Sept. 16, 2026Piramal Phar

PPA targets legacy hardware with broader industrial exposure and stronger one-year returns, while SHLD emphasizes emerging tech and cybersecurity at lower cost.

Looking for broad exposure to the Industrials - Aerospace & Defense segment of the equity market? You should consider the Invesco Aerospace & Defense ETF (PPA), a passively managed exchange traded fund launched on October 26, 2005.

The US retains significant munitions capacity for operations against Iran, but stocks of sophisticated interceptors missiles have come under greater pressure. Bloomberg Intelligence Senior Defense Analyst Col.