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 25% from its 52-week low price of $47.85/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, whose earnings are expected to grow at an above-average rate relative to the market. It has key holdings in information technology at 41.4% while healthcare, consumer discretionary, and industrials round off the next three spots. It is the low cost choice in the large-cap space, charging 4 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 Q2 earnings optimism and historic tax cuts. Rounds of upbeat economic data reflect a strengthening economy and are thus raising confidence in growth amid looming trade tensions. In particular, growth stocks are leading the rally, as these tend to outperform in a trending market (i.e. a market characterized by a prolonged uptrend).

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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