Should You Invest in the First Trust Indxx Aerospace & Defense ETF (MISL)?

The First Trust Indxx Aerospace & Defense ETF (MISL) offers diversified exposure to the aerospace and defense sector with a 0.6% expense ratio and $771.54 million in assets. The ETF has declined 2.46% year-to-date and 3.32% over the past year, with top holdings including Palantir Technologies, RTX Corporation, and SpaceX. MISL received a Zacks ETF Rank of 2 (Buy), though larger competitors like ITA and PPA offer lower expense ratios.