For investors seeking momentum, Global X China Financials ETF is probably on radar now. The fund just hit a 52-week high and is up more than 51% from its 52-week low price of $13.20/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:
CHIX in Focus
This 41-stock fund looks to track the Solactive China Financials Total Return Index. The product charges 65 bps in fees. The fund is heavy on banks (36.95%) followed by insurance (26.3%), real estate (25.2%) and diversified financials (11.6%).
Why the Move?
China's economy expanded 6.9% in 2017, beating the official annual growth target of about 6.5%. This explains the China ETF’s recent run-up.
More Gains Ahead?
The fund has a Zacks ETF Rank #3 (Hold). Still, it seems that this fund might stay strong given a positive weighted alpha of 52.60. There is still some promise for investors who want to ride on this surging ETF.
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 >>
For investors seeking momentum, Global X China Financials ETF is probably on radar now. The fund just hit a 52-week high and is up more than 51% from its 52-week low price of $13.20/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:
CHIX in Focus
This 41-stock fund looks to track the Solactive China Financials Total Return Index. The product charges 65 bps in fees. The fund is heavy on banks (36.95%) followed by insurance (26.3%), real estate (25.2%) and diversified financials (11.6%).
Why the Move?
China's economy expanded 6.9% in 2017, beating the official annual growth target of about 6.5%. This explains the China ETF’s recent run-up.
More Gains Ahead?
The fund has a Zacks ETF Rank #3 (Hold). Still, it seems that this fund might stay strong given a positive weighted alpha of 52.60. There is still some promise for investors who want to ride on this surging ETF.
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 >>