Stock price when the opinion was issued
ITA-N vs. XAR-N He knows the defence sector. A problem in defence is the huge run-up in Boeing, which dominates defence. ITA has a cap system in place to deal with this over-concentration in a few defence stocks, but XAR is odd because it's equal-weighted, therefore carries more risk. He prefers ITA.
Exposure to some of the biggest names. A lot of defense contractors, performed well with everything going on out there in the world. The only name in there that he's not wild about is BA, it's had trouble.