VettaFi Acquires 21-Year-Old Defense Index Behind Invesco’s PPA

VettaFi has acquired The SPADE Defense Index, the 21-year-old benchmark underlying the Invesco Aerospace & Defense ETF (PPA). Described as the oldest defense index in the market, the benchmark provides exposure to US-listed companies involved in defense, aerospace, national security and space operations, spanning areas such as military electronics, aerospace hardware and defense technology. The acquisition expands VettaFi’s global aerospace and defense index franchise to more than $11 billion in assets under index. VettaFi said the deal strengthens its specialized indexing platform as global military spending and defense modernization increase, with governments directing more capital towards strategic readiness, autonomous systems and advanced defense infrastructure.