The ETF's covering the European Defense Industry (e.g., EUAD) would seem to be a good bet these days, but what are the thoughts here about:
(1) to what extent might the upside already be priced in?
(2) might the upside be enough to justify their expense ratios (which tend to be 0.35 - 0.5)?
(3) in light of (1) and (2), which ETFs in this category are recommended?
Thanks!