For investors seeking momentum, VanEck Vectors India Small-Cap ETF is probably on radar now. The fund just hit a 52-week high and is up roughly 1.6% from its 52-week low price of $47.81/share.

But are more gains in store for this ETF? Let’s take a quick look at the fund and the near-term outlook on it to get a better idea on where it might be headed.

SCIF in Focus

SCIF focuses on acquiring small-cap Indian stocks by following the MVIS India Small-Cap Index. It holds 155 stocks in its basket. It maintains a well-diversified portfolio with key holdings in the industrials, consumer discretionary, financials and materials. The fund charges investors 48 basis points a year in fees (see: all the Asia-Pacific (Emerging) ETFshere).

Why the Move?

Indian stocks rallied on Tuesday and registered the best gains in five months on the back of an upside in financials and industrials stocks. Gradually decreasing concerns regarding non-performing assets primarily boosted the financial sector yesterday. Meanwhile, rising speculations of a better earnings performance in the third quarter compared to the earlier quarter also boosted stocks.          

More Gains Ahead?

Currently, SCIF has a Zacks ETF Rank #2 (Buy) with a High risk outlook. Moreover, a positive weighted alpha of 24.79 hints at more gains. So there is definitely some promise for those who want to ride this surging ETF a little further.

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