For investors seeking momentum, iShares U.S. Consumer Services ETF (IYC - Free Report) is probably a good bet now. The fund just hit a 52-week high and is up about 29% from its 52-week low price of $163.35/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:
IYC in Focus
IYC provides targeted exposure to domestic consumer services’ stocks. It has a large-cap focus with key holdings in retailing, media and consumer services segments. The fund charges 43 basis points in annual fees from investors and is largely concentrated on Amazon (AMZN - Free Report) , which accounts for 21.6% of the portfolio (see: all the Consumer Discretionary ETFs here).
Why the Move?
The consumer discretionary sector has been an area to watch lately given a rising rate environment and series of upbeat economic data. Higher interest rates usually indicate a healthy economy, which in turn leads to greater consumer power. An improving economy coupled with higher consumer confidence is making the consumer discretionary sector tempting to investors amid higher yields.
More Gains Ahead?
IYC has a Zacks ETF Rank #2 (Buy) with a Medium risk outlook, suggesting that the outperformance could continue for months. Further, many of the segments that make up this ETF have a strong Zacks Industry Rank, so there is definitely still some promise for those who want to ride on this surging ETF a little longer.
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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 U.S. Consumer Services ETF (IYC - Free Report) is probably a good bet now. The fund just hit a 52-week high and is up about 29% from its 52-week low price of $163.35/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:
IYC in Focus
IYC provides targeted exposure to domestic consumer services’ stocks. It has a large-cap focus with key holdings in retailing, media and consumer services segments. The fund charges 43 basis points in annual fees from investors and is largely concentrated on Amazon (AMZN - Free Report) , which accounts for 21.6% of the portfolio (see: all the Consumer Discretionary ETFs here).
Why the Move?
The consumer discretionary sector has been an area to watch lately given a rising rate environment and series of upbeat economic data. Higher interest rates usually indicate a healthy economy, which in turn leads to greater consumer power. An improving economy coupled with higher consumer confidence is making the consumer discretionary sector tempting to investors amid higher yields.
More Gains Ahead?
IYC has a Zacks ETF Rank #2 (Buy) with a Medium risk outlook, suggesting that the outperformance could continue for months. Further, many of the segments that make up this ETF have a strong Zacks Industry Rank, so there is definitely still some promise for those who want to ride on this surging ETF a little longer.
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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