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SPDR Russell 1000 Low Volatility Focus ETF (ONEV) - free report >>
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SPDR Russell 1000 Low Volatility Focus ETF (ONEV) - free report >>
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Low Volatility ETF (ONEV) Hits a 52-Week High
For investors seeking momentum, SPDR Russell 1000 Low Volatility Focus ETF (ONEV - Free Report) is probably on radar. The fund just hit a 52-week high and is up 28.3% from its 52-week low price of $64.13 per 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:
ONEV in Focus
The underlying Russell 1000 Low Volatility Focused Factor Index reflects the performance of a segment of large-capitalization U.S. equity securities demonstrating a combination of core factors high value, high quality, and low size characteristics, with a focus factor comprising low volatility characteristics. The fund charges 20 bps in fees and yields about 1.86% annually.
Why the Move?
Since markets have been volatile lately due to rough U.S.-China trade relations as well as broader global economic slowdown, seeking refuge in low-volatility products rather than sticking to highly-risky options can help investors to endure the geopolitical storm. This kind of products provide hedge against economic uncertainty.
More Gains Ahead?
The fund has a positive weighted alpha of 9.60. So, there is definitely still some promise for those who want to ride on this surging ETF a little longer, especially if uncertainty prevails.
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