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For investors seeking momentum, U.S. Global Jets ETF (JETS - Free Report) is probably on radar now. The fund just hit a 52-week high and is up nearly 58% from its 52-week low price of $19.60/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:
JETS in Focus
This ETF offers exposure to the global airline industry, including airline operators and manufacturers from all over the world. It has key holdings in American firms accounting for nearly 81% share while Europe and Asia Pacific round off the top three with 11% and 4%, share respectively. It charges investors 60 bps in annual fees (see: all the Industrial ETFs here).
Why the Move?
The airline sector has been an area to watch lately given the start of the American summer driving season. Air travel is expected to reach an all-time high with a record of about 234.1 million passengers (2.54 million per day) flying this summer. This reflects an increase of 4% year over year and came on the back of rising U.S. GDP, robust job gains, moderate wage growth, all-time high household net worth and low airfare.
More Gains Ahead?
Currently, JETS has a Zacks ETF Rank of 3 or ‘Hold’ rating with a High risk outlook. Therefore, it is hard to get a handle on its future returns one way or the other. However, many of the segments that make up this ETF have a strong Zacks Industry Rank. Further, this fund might remain strong given a high weighted alpha of 38.50% and a moderate 20-day volatility of 18.63%. As a result, there is still some promise for investors who want to ride on this surging ETF.
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Airline ETF (JETS) Hits New 52-Week High
For investors seeking momentum, U.S. Global Jets ETF (JETS - Free Report) is probably on radar now. The fund just hit a 52-week high and is up nearly 58% from its 52-week low price of $19.60/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:
JETS in Focus
This ETF offers exposure to the global airline industry, including airline operators and manufacturers from all over the world. It has key holdings in American firms accounting for nearly 81% share while Europe and Asia Pacific round off the top three with 11% and 4%, share respectively. It charges investors 60 bps in annual fees (see: all the Industrial ETFs here).
Why the Move?
The airline sector has been an area to watch lately given the start of the American summer driving season. Air travel is expected to reach an all-time high with a record of about 234.1 million passengers (2.54 million per day) flying this summer. This reflects an increase of 4% year over year and came on the back of rising U.S. GDP, robust job gains, moderate wage growth, all-time high household net worth and low airfare.
More Gains Ahead?
Currently, JETS has a Zacks ETF Rank of 3 or ‘Hold’ rating with a High risk outlook. Therefore, it is hard to get a handle on its future returns one way or the other. However, many of the segments that make up this ETF have a strong Zacks Industry Rank. Further, this fund might remain strong given a high weighted alpha of 38.50% and a moderate 20-day volatility of 18.63%. As a result, there is still some promise for investors who want to ride on this surging ETF.
Want key ETF info delivered straight to your inbox?
Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free >>