VettaFi Acquired SPADE Defense Index
The TMX Group subsidiary expanded its indexing portfolio by purchasing the 21-year-old defense sector benchmark.
Updated on Oct. 5, 2026 in Investing
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VettaFi has acquired the SPADE Defense Index, a move that integrates the longtime benchmark into its existing indexing platform. This acquisition elevates VettaFi's global aerospace and defense franchise to over $11 billion in total assets under indexing.
Why it matters
The acquisition allows VettaFi to solidify its position in the defense sector by controlling the primary benchmark for institutional-grade exposure to national security and defense supply chains.
The SPADE Defense Index, which serves as the benchmark for the Invesco Aerospace & Defense ETF, has a 21-year history. VettaFi currently manages over $11 billion in assets across its global aerospace and defense indexing franchise.
The players
VettaFi
A financial data and indexing firm and a subsidiary of the TMX Group that provides investment analysis and platform services.
SPADE Defense Index
A 21-year-old financial benchmark that tracks the performance of companies involved in national defense and security industries.
Invesco Aerospace & Defense ETF
An exchange-traded fund that uses the SPADE Defense Index as its underlying benchmark and trades under the ticker symbol PPA.
TMX Group
A major financial services company that operates global markets and serves as the parent organization for VettaFi.
The details
VettaFi, a subsidiary of the TMX Group, will now oversee the methodology that tracks companies engaged in national defense and security supply chains. The index currently functions as the underlying benchmark for the Invesco Aerospace & Defense ETF, which trades under the ticker PPA.
Timeline
VettaFi announced the acquisition of the SPADE Defense Index on October 5, 2026.
Market Dynamics
This acquisition follows the pattern established by the Invesco Aerospace & Defense ETF, demonstrating how firms are consolidating control over sector-specific benchmarks to dominate specialized investment niches. This move highlights a broader trend where indexing platforms absorb legacy benchmarks to expand their influence over institutional capital allocations.
Retail investors holding the Invesco Aerospace & Defense ETF should see no immediate changes to fund operations or performance as a result of the index provider change. The transition aims to maintain the index methodology, ensuring that existing investment strategies remain consistent.
The takeaway
Investors looking for defense exposure should continue to monitor how index methodology changes influence the long-term performance of their sector funds. Maintaining a focus on the underlying assets remains crucial as consolidation among index providers becomes more common.
Further reading
For more on sector-specific benchmarks, see our guide to Investing.
More information
View official VettaFi company information for more details on their platform.
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