Israeli markets rose to record highs Wednesday, continuing to outperform U.S. benchmarks despite the ongoing conflict with Iran. The TA-35 and TA-125 indexes each climbed about 1%, while the shekel strengthened 0.

iShares U.S. Aerospace & Defense ETF ( ITA) tracks a market-cap-weighted index of U.S. aerospace and defense stocks. Due to the industry’s nature, the fund is highly concentrated and non-diversified, despite "capping" holdings for diversification purposes.

Oil prices fell and stocks closed higher on Monday, indicating optimism among investors about the limits of economic fallout from the ongoing Israel-Iran conflict.