So defense spending, especially in Europe, could keep momentum on the side of the Invesco S&P International Developed Momentum ETF (IDMO). The ongoing Russia/Ukraine conflict has been a catalyst for increase spending in recent years, but as research from Goldman Sachs noted, previous years were marked by underinvestment. As Europe continues to ramp up defense spending, it can have a net positive effect on its economic growth. One of the funds that could benefit from a spillover in defense spending is IDMO, which garnered $1 billion in assets this year. In aggregate, defense spending and its effects on economic growth in Europe could trickle down to strength in IDMO.