For investors seeking momentum, iShares MSCI ACWI (ACWI Quick QuoteACWI - Free Report) is probably on radar now. The fund just hit a 52-week high and is up over 23% from its 52-week low price of $51.02/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:

ACWI in Focus    

This product offers exposure to a wide array of developed and emerging market companies. The fund has a large-cap focus. Financials, Information Technology, Consumer Discretionary and Industrials are the top four sectors of the fund with a double-digit weight each. The fund is heavy on the U.S. (51.99%), followed by Japan (7.75%) and U.K. (5.16%). The fund charges 33 bps in fees (see all World ETFs here).

Why the Move?

Global stocks have been on a tear lately on a flurry of upbeat news across the world. Six-year high business activity in the Euro zone, run in Asian stocks on President Donald Trump’s conformity to the "One China" policy on Taiwan, rally in Japanese shares and indications of a tax reform in the U.S. charged up stocks across the world.

More Gains Ahead?

The fund has a Zacks ETF Rank #3 (Hold) with a low risk outlook. However, it still can continue with its strength given a positive weighted alpha of 18.90. As a result, there is definitely still some promise for investors who want to ride on this surging ETF.

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