For investors seeking momentum, iShares Russell Top 200 Growth ETF (IWY - Free Report) is probably on radar. The fund just hit a 52-week high and is up 62% from its 52-week low of $71.86 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.
IWY in Focus
This fund offers exposure to large U.S. companies whose earnings are expected to grow at an above-average rate relative to the market. It has key holdings in information technology while consumer discretionary, health care, and communication round off the next three spots. It charges 20 basis points in annual fees (see: all the Large Cap Growth ETFs here).
Why the Move?
The growth space of the broad U.S. stock market has been an area to watch lately, given that the Nasdaq Composite Index hit new all-time highs. The latest rally can be attributed to a superb rally in the mega-cap tech stocks, trillions of dollars in monetary and fiscal stimulus, and the positive developments in potential coronavirus vaccines. 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, IWY 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 some promise for those who want to ride this surging ETF a little further.
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Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
For investors seeking momentum, iShares Russell Top 200 Growth ETF (IWY - Free Report) is probably on radar. The fund just hit a 52-week high and is up 62% from its 52-week low of $71.86 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.
IWY in Focus
This fund offers exposure to large U.S. companies whose earnings are expected to grow at an above-average rate relative to the market. It has key holdings in information technology while consumer discretionary, health care, and communication round off the next three spots. It charges 20 basis points in annual fees (see: all the Large Cap Growth ETFs here).
Why the Move?
The growth space of the broad U.S. stock market has been an area to watch lately, given that the Nasdaq Composite Index hit new all-time highs. The latest rally can be attributed to a superb rally in the mega-cap tech stocks, trillions of dollars in monetary and fiscal stimulus, and the positive developments in potential coronavirus vaccines. 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, IWY 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 some promise for those who want to ride this surging ETF a little further.
Want key ETF info delivered straight to your inbox?
Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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