For investors seeking momentum, WisdomTree Brazilian Real Strategy Fund is probably on their radar now. The fund just hit a 52-week high and is up roughly 46.5% from its 52-week low price of $12.09/share.
But are more gains in store for this ETF? Let’s take a quick look at the fund and its near-term outlook to get a better idea of where it might be headed.
BZF in Focus
BZF looks to attain total returns reflective of both money market rates in Brazil available to foreign investors and changes in value of the Brazilian real relative to the U.S. dollar. BZF charges investors 45 basis points a year in fees. The fund has a total asset base of $25.9 million and trades in average daily volume of 21,000 shares (see Currency ETFs here).
Why the Move?
The Brazilian currency has managed to appreciate despite the rate hike and hawkish comments by the U.S. Federal Reserve. Meanwhile, the country’s central bank announced larger-than-expected interest rate cut. Brazil, which is suffering from the worst recession in its history, is looking to boost its economy with this move.
More Gains Ahead?
Currently, the fund has a positive weighted alpha of 38.20. A positive weighted alpha hints at more gains.
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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.
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For investors seeking momentum, WisdomTree Brazilian Real Strategy Fund is probably on their radar now. The fund just hit a 52-week high and is up roughly 46.5% from its 52-week low price of $12.09/share.
But are more gains in store for this ETF? Let’s take a quick look at the fund and its near-term outlook to get a better idea of where it might be headed.
BZF in Focus
BZF looks to attain total returns reflective of both money market rates in Brazil available to foreign investors and changes in value of the Brazilian real relative to the U.S. dollar. BZF charges investors 45 basis points a year in fees. The fund has a total asset base of $25.9 million and trades in average daily volume of 21,000 shares (see Currency ETFs here).
Why the Move?
The Brazilian currency has managed to appreciate despite the rate hike and hawkish comments by the U.S. Federal Reserve. Meanwhile, the country’s central bank announced larger-than-expected interest rate cut. Brazil, which is suffering from the worst recession in its history, is looking to boost its economy with this move.
More Gains Ahead?
Currently, the fund has a positive weighted alpha of 38.20. A positive weighted alpha hints at more gains.
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 >>