Absolutely!
And national security is absolutely intertwined with the operation of a SWF, but these are very nuanced discussions that cannot be decided willy nilly based on electoral whims.
These are complex and nuanced topics that cannot be resolved via simple populist retorts, which only puts strategy at the backseat at the expense of electoral short-termism.
And this is why examples like Florida's "anti-woke investment" law which lead Florida to miss out on a significant amount of green and renewable investment opportunities that equally red Georgia took advantage of, and California's complete opposite "banning of all greenhouse gas adjacent industries" lead CalPERS to take a significant beating despite similarly progressive funds in Colorado and Oregon continuing to invest in ONG adjacent sectors.