• The Trump administration has invested $75 billion in drones and counter-drone systems.
• The Defiance Drone & Modern Warfare ETF has crossed $135 million in net assets.
• The fund's underlying index has been updated to expand eligible capability areas.
• The Pentagon's autonomous-warfare pivot may signal a shift in procurement priorities.

The US drone policy shift may indicate a growing emphasis on domestic manufacturing and counter-drone capabilities, which could benefit US-based drone companies and reshape the modern warfare investment theme. The $75 billion Pentagon budget suggests significant investment in drone technology, which may drive growth in the industry and create new opportunities for investors.