VettaFi Acquires 21-Year-Old SPADE Defense Index

The SPADE Defense Index is the underlying benchmark for the Invesco Aerospace & Defense ETF (PPA), which invests in U.S.-listed companies. Its methodology covers aerospace hardware, military electronics, space systems and defense technology.

VettaFi cited rising global military spending and defense modernization budgets as factors supporting demand for companies that supply autonomous systems, defense infrastructure and related technologies.

The index was launched 21 years ago. VettaFi describes it as the oldest defense index in the market. It tracks companies involved in national defense and security supply chains, linking its holdings to spending on defense equipment and technology upgrades.

The Invesco ETF provides an existing investment vehicle for exposure to aerospace and defense contractors. VettaFi said the fund’s size and trading liquidity give investors access to companies across the sector.

“The acquisition of The SPADE Defense Index aligns with our mission to offer asset managers and investors specialised, institutional-grade exposure to critical, long-term trends,” Brian Coco, VettaFi’s chief product officer, said in a statement. “Defence and security capabilities remain top-of-mind globally, and integrating this benchmark strengthens our expansive indexing platform.”