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Which Space and Defense ETF Is the Better Buy: ARK's ARKX or First Trust's MISL?The Motley Fool · Aug 18, 2026The First Trust Indxx Aerospace & Defense ETF aims to mirror the financial performance, specifically the capital appreciation and income generation, of the Indxx US Aerospace & Defense Index, before factoring in its operational costs. Typically, under ordinary market circumstances, the Fund allocates a minimum of 80% of its net assets, including any capital acquired through borrowing, to the equity securities composing that benchmark index.