The benchmark S&P Aerospace & Defense Select Industry Index’s year-to-date return for 2025 is reported as 24.3%. Even more astonishing is that the index has basically been flat (down 2%) over the past month.
Just think about what’s happened over that month: a commitment from NATO members to massively boost defense spending, fighting between Israel and Iran and the U.S. bombing of Iran’s nuclear sites in late June.
