For investors seeking momentum, iShares Russell 1000 Growth ETF (IWF Quick QuoteIWF - Free Report) is probably on radar. The fund just hit a 52-week high and is up roughly 52.5% from its 52-week low price of $128.23/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:

IWF in Focus

IWF provides exposure to growth stocks of the large-cap segment with key holdings in information technology, consumer discretionary, healthcare and communications. The product charges 19 basis points in fees (see: all the Large Cap Growth ETFs here).

Why the Move?

The growth space of the U.S. stock market has been an area to watch lately, given the rally to start the new quarter. Wall Street notched its best quarterly performance in more than 20 years buoyed by a combination of unprecedented levels of fiscal and monetary stimulus, a technology sector boom, hopes of a coronavirus vaccine and easing of lockdown measures. 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, IWF has a Zacks ETF Rank #1 (Strong Buy) with a Medium risk outlook, suggesting continued outperformance 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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