IRTR vs PPI: Grades, Fees and Holdings Compared

iShares LifePath Retirement ETF

IRTRANYSE Arca

Astoria Real Assets ETF

PPICNasdaq

Overlap

1.8%by weight

Expense ratio

IRTR −0.49pt a year

IRTR0.08%PPI0.57%

Avg volume · 30D

PPI 2.2×the volume

IRTR12.6KPPI28.1K

3Y return · a year

PPI +3.4pt

IRTR+11.9%PPI+15.3%

IRTR vs PPI Performance

Nov 6, 2025 – Nov 6, 2026

+5.2%IRTR+4.3%PPI

Expense ratio: IRTR 0.08%, better; PPI 0.57%
Fund size: IRTR $59M; PPI $147M
1Y total return: IRTR +5.2%, better; PPI +4.3%
Yield (12M): IRTR 3.21%, better; PPI 1.56%
Holdings: IRTR 29136; PPI 88
Avg volume (30D): IRTR 12.6K sh; PPI 28.1K sh, better
NAV per share: IRTR $31.23; PPI $18.89
52W range

ETF.net Grade

Pillar letters and Scores for IRTR, PPI, with each pillar’s weight
Pillar	IRTR	PPI
Cost30% weight	A97Higher	C53
Mission25% weight	A100	Not scored
Risk15% weight	A81Higher	F20
Tradability15% weight	B64Higher	C44
Holdings10% weight	A79	A80Higher
Durability5% weight	B56	B58Higher

Rank among Multi-Asset Allocation funds

How we build Categories ›

Same Category. IRTR and PPI are both graded against the same 36 Multi-Asset Allocation funds, so their Grades compare head to head.

Multi-Asset Allocation⁠

Category · 36 funds

See all 36 ›

IRTR ranks 3rd and PPI 24th of 36 funds in the Multi-Asset Allocation Category.

Rank 1AUCBGState Street SPDR UC Investments 90/10 Endowment Strategy Index ETFScore 95
Rank 2AAOAiShares Core 80/20 Aggressive Allocation ETFScore 88
Rank 3AIRTRiShares LifePath Retirement ETFScore 86
Rank 4AINCEFranklin Income Equity Focus ETFScore 74
Rank 23CCSRACohen & Steers Real Assets Active ETFScore 51
Rank 24CPPIAstoria Real Assets ETFScore 48
Rank 25CSPLSPIMCO US Stocks PLUS Active Bond ETFScore 45

Our read on each fund

ETF.net Research

IRTRAiShares LifePath Retirement ETF

PPICAstoria Real Assets ETF

In short

IRTR A whole retirement portfolio in one ticker: global stock and bond ETFs blended at the conservative end, for 0.08% a year. That is index-fund pricing on a job most allocation funds charge roughly ten times more to do.

PPI Most allocation ETFs split stocks and bonds. PPI swaps the bond side for hard assets: an actively run basket of energy, materials, industrials, utilities and REITs, aiming at growth measured after inflation. Trading since December 2021.

Stated mandate

IRTR The fund seeks conservative exposure through a broad portfolio of stock and bond ETFs spanning global asset classes.

PPI The Fund seeks long-term capital appreciation in inflation-adjusted terms and normally invests at least 80% of net assets in investments with significant exposure to real assets.

Why people hold it

IRTR Costs 0.08% a year against a 0.78% median for allocation funds. Roughly a tenth of the going rate for a portfolio-in-a-box.
One line item, global coverage. The fund holds a spread of stock and bond ETFs across asset classes, so the mixing happens inside the wrapper.ishares.com
Distributions come monthly rather than quarterly.
One of the strongest all-in-one allocation funds in its peer group, and the cheapest of that top tier: iShares' own AOA runs 0.19%.

PPI One ticker, one job: at least 80% of net assets in real-asset investments. A company counts only if half its revenue, profits or assets sit in physical things.sec.gov
Actively run, not an index sleeve. Astoria builds the equity book around roughly 50 to 60 issuers using growth, momentum, quality and value screens.streetinsider.com
Real assets here stretch past commodity miners and drillers to global REITs and inflation-linked Treasuries, so the hedge is not one trade in a trench coat.streetinsider.com
0.57% all-in, with no fee waiver doing the work, which lands near the median for its allocation peer group. Distributions land quarterly.

Worth knowing

IRTR Thinly traded. Spreads can run wider than on household-name ETFs, so limit orders matter more here.
Launched in 2023, so the track record is short and the fund is still building scale.
Conservative by construction: it is built to move less than an all-stock portfolio, and that cuts in both directions.ishares.com

PPI Non-diversified by charter, and the book clusters in energy, materials, industrials, utilities and real estate, so it moves with commodity and resource cycles.sec.gov streetinsider.com
Thinly traded next to the giants in its category, so limit orders and a glance at the spread earn their keep.
Index stock-and-bond allocation funds like AOA and IRTR sit below it on cost. The active real-assets mandate is what the gap buys.

Full IRTR profile⁠

Full PPI profile⁠

IRTR vs PPI Holdings

How IRTR and PPI differ

Overlap by weight

1.8%

Shared holdings make up 77.1% of PPI and 1.8% of IRTR.

Level by level

Holdings68 in both1.8%
Sector11 Sectors28.9%
Countryby domicile74.0%

Sector

Sector weights in IRTR and PPI, widest gap first
Sector	Gap	IRTR	PPI
Technology	IRTR +30.5 points	30.5%	0.0%
Industrials	PPI +23.5 points	11.9%	35.4%
Energy	PPI +21.1 points	4.6%	25.7%
Materials	PPI +15.6 points	3.5%	19.1%
Financials	IRTR +14.7 points	14.7%	0.0%
Health Care	IRTR +8.2 points	8.2%	0.0%
Communication	IRTR +7.4 points	7.3%	0.0%
Real Estate	PPI +6.5 points	3.2%	9.7%
Consumer Discretionary	IRTR +6.1 points	7.9%	1.8%
Utilities	PPI +4.4 points	3.9%	8.3%
Consumer Staples	IRTR +4.2 points	4.2%	0.0%

Country, concentration and asset class

Country by domicile

Country weights in IRTR and PPI, widest gap first
Country	Gap	IRTR	PPI
United States	IRTR +20.7 points	83.6%	62.9%
France	PPI +4.8 points	0.9%	5.7%
Canada	PPI +4.2 points	1.5%	5.7%
United Kingdom	PPI +4.0 points	1.7%	5.7%
Japan	PPI +3.8 points	2.2%	6.0%
Switzerland	PPI +3.0 points	1.0%	4.0%
Germany	PPI +1.7 points	0.8%	2.5%
Australia	PPI +1.5 points	0.8%	2.3%
Other countries (33)	IRTR +2.3 points	7.5%	5.2%

Outside the US: PPI 99% developed, 1% emerging.

Concentration

Weight in the 10 largest Holdings

IRTR9.7%
PPI26.2%

Securities held

IRTR29,039
PPI87

Asset class

IRTR: Multi-Asset
PPI: Multi-Asset

Holdings

Only in IRTR28,971
In both68
Only in PPI19

Only in IRTR

28,971 securities, 97.8% of IRTR by weight

Apple1.70%
NVIDIA1.45%
Microsoft1.36%
Treasury Note 1.38% 11/15/2031 (Tnote)1.30%
Amazon.com Inc0.86%
Treasury Note 2.63% 02/15/2029 (Tnote)0.77%
Alphabet Class A0.56%
Treasury Note 3.13% 11/15/2028 (Tnote)0.55%
Treasury (Cpi) Note 1.13% 10/15/2030 (Tips)0.54%
Treasury (Cpi) Note 1.25% 04/15/2031 (Tips)0.54%
Treasury (Cpi) Note 1.63% 04/15/2030 (Tips)0.53%
Treasury (Cpi) Note 1.63% 10/15/2029 (Tips)0.51%
Treasury Note 2.75% 02/15/2028 (Tnote)0.50%
Treasury (Cpi) Note 2.13% 04/15/2029 (Tips)0.49%
Treasury (Cpi) Note 2.38% 10/15/2028 (Tips)0.49%
Taiwan Semiconductor Manufacturing0.48%
Treasury (Cpi) Note 1.63% 10/15/2027 (Tips)0.48%
Treasury (Cpi) Note 1.25% 04/15/2028 (Tips)0.48%
Treasury (Cpi) Note 0.13% 04/15/2027 (Tips)0.47%
Broadcom Inc0.46%
Treasury (Cpi) Note 0.13% 01/15/2031 (Tips)0.46%
Treasury (Cpi) Note 0.13% 07/15/2031 (Tips)0.46%
Alphabet Class C0.46%
Meta Platforms Class A0.45%
Treasury (Cpi) Note 0.13% 07/15/2030 (Tips)0.44%
Treasury (Cpi) Note 0.38% 07/15/2027 (Tips)0.43%
Treasury (Cpi) Note 0.50% 01/15/2028 (Tips)0.43%
Treasury Bond 2.50% 05/15/2046 (Tbond)0.43%
Treasury Note 2.88% 05/15/2028 (Tnote)0.43%
Treasury Bond 3.75% 11/15/2043 (Tbond)0.42%
Treasury Bond 2.75% 11/15/2042 (Tbond)0.41%
Treasury (Cpi) Note 0.13% 01/15/2030 (Tips)0.40%
Treasury (Cpi) Note 0.38% 01/15/2027 (Tips)0.38%
Eli Lilly0.37%
Treasury Bond 6.13% 11/15/2027 (Tbond)0.37%
Treasury (Cpi) Note 0.75% 07/15/2028 (Tips)0.37%
Berkshire Hathaway Inc Class B0.36%
Treasury (Cpi) Note 0.25% 07/15/2029 (Tips)0.36%
Treasury Bond 1.88% 02/15/2051 (Tbond)0.35%
Tesla Inc0.34%
Treasury Note 4.00% 05/31/2028 (Tnote)0.32%
Treasury (Cpi) Note 0.88% 01/15/2029 (Tips)0.31%
JPMorgan Chase & Co0.31%
Treasury Note (Old) 4.38% 05/15/2036 (Tnote)0.29%
Treasury Note 2.38% 05/15/2029 (Tnote)0.28%
Treasury Note 4.00% 05/31/2030 (Tnote)0.26%
Treasury Note 4.00% 02/15/2034 (Tnote)0.26%
Treasury Note 4.00% 02/29/2028 (Tnote)0.26%
Treasury Note 3.88% 03/31/2028 (Tnote)0.25%
Micron Technology0.25%

Only in PPI

19 securities, 22.4% of PPI by weight

Spdr Gold Minishares Trust4.09%
Sprott Physical Copper T /Cad/3.08%
Shell Plc-Adr2.25%
Rio Tinto Plc-Spon Adr1.74%
Lyondellbasell Indu-Cl A1.66%
Bhp Group Ltd-Spon Adr1.41%
Enterprise Products Partners1.15%
Mplx Lp1.14%
Energy Transfer Lp1.11%
Plains All Amer Pipeline Lp1.10%
Slb Ltd1.02%
Cashusd0.74%
Glencore PLC /Gbp/0.59%
Graniteshares Platinum Trust0.47%
Abrdn Physical Silver Shares0.44%
Abrdn Physical Palladium Shs0.43%
Cashcad<0.01%
Cashaud0.00%
Cashchf0.00%

Weight gaps

All 68 Holdings in both funds, largest gap first.

Holding weights in IRTR and PPI, widest gap first
Holding	Gap	IRTR	PPI
NewmontNEM	PPI +2.78 points	0.04%	2.82%
Simon Property Group Reit IncSPG	PPI +2.57 points	0.05%	2.62%
Abb Ltd	PPI +2.42 points	0.04%	2.46%
Freeport Mcmoran IncFCX	PPI +2.25 points	0.03%	2.28%
Public Storage ReitPSA	PPI +2.19 points	0.04%	2.23%
Exxonmobil Holdings CorpXOM	PPI +2.10 points	0.23%	2.33%
Caterpillar IncCAT	PPI +1.96 points	0.09%	2.05%
Vici Pptys IncVICI	PPI +1.96 points	0.02%	1.98%
CsxCSX	PPI +1.93 points	0.03%	1.96%
Anglogold Ashanti PLC	PPI +1.90 points	0.01%	1.91%
Lockheed MartinLMT	PPI +1.87 points	0.04%	1.91%
Steel Dynamics IncSTLD	PPI +1.82 points	0.01%	1.83%
Siemens Energy N AG	PPI +1.66 points	0.03%	1.69%
Lair Liquide Societe Anonyme Pour	PPI +1.61 points	0.04%	1.65%
Engie SA	PPI +1.48 points	0.04%	1.52%
Ge VernovaGEV	PPI +1.45 points	0.07%	1.52%
Howmet AerospaceHWM	PPI +1.42 points	0.03%	1.45%
Mitsubishi Electric	PPI +1.36 points	0.02%	1.38%
Aercap HoldingsAER	PPI +1.35 points	<0.01%	1.36%
Entergy CorpETR	PPI +1.28 points	0.04%	1.32%
NewmarketNEU	PPI +1.25 points	<0.01%	1.25%
Jb Hunt Transport ServicesJBHT	PPI +1.21 points	<0.01%	1.22%
Safran SA	PPI +1.22 points	0.03%	1.25%
Jones Lang LasalleJLL	PPI +1.20 points	<0.01%	1.21%
Host Hotels & Resorts ReitHST	PPI +1.19 points	0.01%	1.20%
Eog ResourcesEOG	PPI +1.15 points	0.03%	1.18%
Canadian Natural Resources Ltd	PPI +1.14 points	0.03%	1.17%
ConocophillipsCOP	PPI +1.12 points	0.06%	1.18%
Lamar Advertising Company ClasLAMR	PPI +1.12 points	0.01%	1.13%
United RentalsURI	PPI +1.03 points	0.02%	1.05%
Honeywell International IncHON	PPI +0.99 points	0.02%	1.01%
Public Service Enterprise GroupPEG	PPI +0.97 points	0.03%	1.00%
HalliburtonHAL	PPI +0.95 points	<0.01%	0.96%
Cf Industries Holdings IncCF	PPI +0.93 points	<0.01%	0.94%
American Electric Power IncAEP	PPI +0.93 points	0.06%	0.99%
Hitachi	PPI +0.92 points	0.04%	0.96%
Technipfmc PLCFTI	PPI +0.89 points	<0.01%	0.90%
Devon EnergyDVN	PPI +0.85 points	0.02%	0.87%
Amcor PLCAMCR	PPI +0.85 points	<0.01%	0.86%
Veolia Environ. SA	PPI +0.84 points	<0.01%	0.85%
Cenovus Energy	PPI +0.83 points	0.01%	0.84%
Crown Holdings IncCCK	PPI +0.83 points	<0.01%	0.83%
Omega Healthcare Investors ReitOHI	PPI +0.82 points	0.01%	0.83%
Vertiv Holdings Class AVRT	PPI +0.81 points	0.02%	0.83%
Inpex	PPI +0.80 points	<0.01%	0.81%
AtiATI	PPI +0.75 points	<0.01%	0.76%
Ryman Hospitality Properties ReitRHP	PPI +0.74 points	<0.01%	0.75%
Constellation Energy CorpCEG	PPI +0.74 points	0.07%	0.81%
Fujikura	PPI +0.70 points	<0.01%	0.71%
Valero Energy CorpVLO	PPI +0.69 points	0.03%	0.72%
Rheinmetall AG	PPI +0.67 points	0.01%	0.68%
Prysmian	PPI +0.66 points	<0.01%	0.67%
Mueller Industries IncMLI	PPI +0.66 points	<0.01%	0.66%
Kansai Electric Power	PPI +0.65 points	<0.01%	0.65%
Baker Hughes Class ABKR	PPI +0.56 points	0.02%	0.58%
Cummins IncCMI	PPI +0.57 points	0.02%	0.59%
Carpenter TechnologyCRS	PPI +0.57 points	<0.01%	0.57%
Comfort Systems UsaFIX	PPI +0.56 points	0.01%	0.57%
ApaAPA	PPI +0.54 points	<0.01%	0.55%
VistraVST	PPI +0.53 points	0.03%	0.56%
Repsol	PPI +0.49 points	0.01%	0.50%
Evolution Mining	PPI +0.48 points	<0.01%	0.49%
Cheniere EnergyLNG	PPI +0.48 points	0.06%	0.54%
Totalenergies	PPI +0.49 points	0.05%	0.54%
Kajima	PPI +0.47 points	<0.01%	0.47%
SOUTH32	PPI +0.47 points	<0.01%	0.47%
Sumitomo Metal Mining	PPI +0.43 points	<0.01%	0.43%
Mitsui Kinzoku Limited Ltd	PPI +0.20 points	<0.01%	0.20%

All IRTR holdings⁠All PPI holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

IRTR vs PPI Cost

Overpaying PPI vs IRTR

$9,582

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

IRTR 0.08%
$1,689
PPI 0.57%
$11,271

Amount$10,000

Years30 years

Cost over time

IRTR 0.08%
PPI 0.57%
Overpaying

Year by year

Year	IRTR	PPI	Overpaying
10	$147	$1,023	$876
20	$575	$3,921	$3,346
30	$1,689	$11,271	$9,582

Expense ratio

0.08%IRTR, cheaper
0.57%PPI

IRTR0.08%PPI0.57%

0.06%1.36%

Middle half of Multi-Asset Allocation funds
Median 0.61%

IRTR 2nd cheapest of 36 funds

PPI 18th cheapest of 36 funds

IRTR vs PPI Dividends

Last 12 months to Nov 6, 2026

Yield (12M): IRTR 3.21%, better; PPI 1.56%
Payout (12M): IRTR $1.00; PPI $0.29
Last payment: IRTR $0.07; PPI $0.07
Ex-dividend: IRTR Nov 3, 2026; PPI Sep 24, 2026
Paid on: IRTR Nov 6, 2026; PPI Sep 28, 2026
Frequency: IRTR Monthly; PPI Quarterly

Distribution history

Per share, 2023 to 2026, same scale for both

IRTRMonthly · 36 paymentsAll IRTR payments⁠

PPIQuarterly · 15 paymentsAll PPI payments⁠

IRTR vs PPI Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: IRTR 7.3%, betterPPI 14.9%
Return per unit of riskSharpe ratio, 3 years: IRTR 1.14, betterPPI 0.91
Worst fallMax drawdown, 5 years: IRTR −6.3%since Oct 2023PPI −24.6%since Dec 2021
Market sensitivityBeta, 5 years: IRTR 0.46PPI 1.15; Market = 1

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