So, the friendship circlet has a 20% exp boost up to level 25. Other than that it's ilvl 1 and has low defense and zero stats on it.

The Helm of Light and Moogle Cap both have 20% exp boost up to level 10, except they are ilvl 11 and each one has two stats +1.

Shouldn't the one that you might wear into a dungeon have better stats on it? Or at least the same stats? Seems weird to me.