Investors seeking momentum may have iShares Russell 1000 Growth ETF (IWF Quick QuoteIWF - Free Report) on radar now. The fund recently hit a new 52-week high. Shares of IWF are up approximately 27.8% from their 52-week low of $102.79/share.

But could there be more gains ahead for this ETF? Let’s take a look at the fund and the near-term outlook to get a better idea of where it might be headed.

IWF in Focus

IWF focuses on providing exposure to the large-cap sector of the U.S. equity market. The fund has key holdings in the Information Technology, Consumer Discretionary and Health Care sectors, with 38.9%, 17.7% and 13.1% allocation, respectively (as of Nov 15, 2017). IWF charges investors 20 basis points in fee per year. Its top holdings include Apple Inc (AAPL Quick QuoteAAPL - Free Report) , Microsoft Corp (MSFT Quick QuoteMSFT - Free Report) and Amazon.com Inc (AMZN Quick QuoteAMZN - Free Report) with almost 18% of the assets allocated to them (see all the Large Cap ETFs here).

Why the move?

Of late, the U.S. equity markets have been performing well. Overall strong earnings performance has led to a rally in the markets. Strong grocery and online sales led to an increase in share prices of consumer stocks. Moreover, the House passed the tax reform bill, leading to a rally in U.S. equities.

More Gains Ahead?

Currently, IWF has a Zacks ETF Rank #1 (Strong Buy) with a Medium risk outlook. Moreover, the fund has a weighted alpha of 26.7. So, there is a promising outlook ahead for those who want to ride this surging ETF a shade further.

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