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Global Consumer Staples ETF (KXI) Hits New 52-Week High

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Investors seeking momentum may have iShares Global Consumer Staples ETF (KXI - Free Report) on radar now. The fund recently hit a new 52-week high. Shares of KXI are up approximately 40.4% from their 52-week low of $41.46/share.

But could there be more gains ahead for this ETF? Let’s take a look at the fund and the near-term outlook to get a better idea of where it might be headed.

KXI in Focus

The fund looks to provide exposure to the global consumer staples sector, including allocations to United States (52.84%) and international stocks.The United Kingdom (10.67%), Switzerland (9.45%) and Japan (6.84%) take the next three spots. It charges 46 bps in fees.

Why the Move?

As markets are facing an alarming threat for the second wave of coronavirus, the lure for safe sectors like consumer staples has charged up globally.

More Gains Ahead?

The fund has a positive weighted alpha of 10.80. So, there is a decent outlook ahead for those who want to ride this surging ETF a shade further.

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