For investors seeking momentum,WisdomTree Japan Hedged Quality Dividend Growth ETF is probably on radar now. The fund just hit a 52-week high and is up around 29.5% from its 52-week low price of $22.10/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:

JHDG in Focus

This fund offers exposure to the performance of dividend-paying common stocks with growth characteristics selected from the WisdomTree DEFA Index while at counterbalancing exposure to fluctuations between the yen and the U.S. dollar alongside. It has key holdings in Consumer Discretionary while Industrials, Information Technology and Consumer Staples round off the next three spots. It charges 43 basis points in annual fees (see: all Asia-Pacific (Developed) ETFs here).

Why the Move?

The landslide victory of prime minister Shinzo Abe in a snap election has instilled further optimism in the Japanese economy and the stock market. Hopes of continuation of Abenomics and prolonging of easy money policies lowered yen and boosted this currency-hedged ETF.

More Gains Ahead?

Currently, JHDG has a Zacks ETF Rank #3 (Hold) with a High-risk outlook. So, it is hard to get a handle on its future returns one way or another. It seems that this fund might stay strong given a positive weighted alpha of 26.00. As a result, there is still some promise for investors who want to ride on this surging ETF.

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