For investors seeking momentum, iShares Russell Mid-Cap Growth ETF (IWP Quick QuoteIWP - Free Report) is probably on radar now. The fund just hit a 52-week high and is up about 23.1% from its 52-week low price of $111.27/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:

IWP in Focus

This fund offers exposure to mid-sized U.S. companies whose earnings are expected to grow at an above-average rate relative to the market. It holds a well-diversified portfolio of 414 stocks in its basket. The ETF has key holdings in information technology, consumer discretionary, industrials, and healthcare sectors with double-digit allocation each. The fund charges 25 basis points in annual fees (see: all the Mid Cap ETFs here).

Why the Move?

The mid-cap space of the broad U.S. stock market has been an area to watch lately given the bouts of volatility related to Trump’s trade policies. However, a booming economy and strong corporate earnings are acting as the key catalysts to the stock market. In such a scenario, mid-cap funds offer the best of both worlds — growth and stability — when compared to large and small-cap counterparts.

More Gains Ahead?

Currently, IWP has a Zacks ETF Rank #2 (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 some promise for those who want to ride this surging ETF a little further.

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