For investors seeking momentum, iShares Core S&P U.S. Growth ETF (IUSG Quick QuoteIUSG - Free Report) is probably on radar now. The fund just hit a 52-week high and is up around 23.5% from its 52-week low price of $40.54/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:

IUSG in Focus

This ETF offers exposure to a broad range of U.S. growth stocks, earnings of which are expected to grow at an above-average rate relative to the market. It has key holdings in information technology while consumer discretionary, health care and industrials round off the next three spots. It is the low cost choice in the large cap space, charging 5 basis points in annual fees (see: all the Large Cap ETFs here).

Why the Move?

The growth space of the broad U.S. stock market has been an area to watch lately given that the Dow Jones and the S&P 500 posted the fifth consecutive monthly gains in August, easily outplaying geopolitical concerns. This is primarily thanks to upbeat economic data such as impressive GDP growth and high consumer confidence, as well as hopes of tax reform. Growth stocks tend to outperform when the stock market moves higher.

More Gains Ahead?

Currently, IUSG has a Zacks ETF Rank #1 (Strong Buy) with a Medium risk outlook, suggesting that the outperformance could continue in the months ahead. Further, many of the segments that make up this ETF have a strong Zacks Industry Rank, so there is definitely still some promise for those who want to ride on this surging ETF a little longer.

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