"Boeing carries a 7.78% weight in the fund as its third-largest holding. Year to date, Boeing shares are down 12.85% and have fallen 16.84% over the past month."
"Lockheed is up 24.39% year to date despite slipping 8.58% over the past month. RTX is roughly flat for the year at 2.38% year to date, though it has pulled back 7.63% recently."
"The biggest macro force pressing on PPA is the rise in Treasury yields. The 10-year yield has climbed to 4.44%, up 0.39 percentage points in just the past month."
The Invesco Aerospace & Defense ETF, launched in 2005, has $8.2 billion in assets and is heavily invested in U.S. defense companies. Despite the ongoing conflict with Iran, the fund has dropped 11.55% recently. Boeing, a major holding, has seen significant declines due to supply chain disruptions, while Lockheed Martin and RTX have performed better. Rising Treasury yields are also impacting valuations, complicating the expected correlation between geopolitical events and defense stock performance.
Read at 24/7 Wall St.
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