For investors looking for momentum, iShares Currency Hedged MSCI Japan ETF (HEWJ - Free Report) is probably a suitable pick. The fund just hit a 52-week high — up roughly 19.0% from its 52-week low of $27.33/share.
Does it have more gains in store? Let’s take a look at the fund and its near-term outlook to gain an insight into where it might be headed:
HEWJ in Focus
The underlying MSCI Japan 100% Hedged to USD Index consists of stocks traded primarily on the Tokyo Stock Exchange with the currency risk of the securities included in the underlying index hedged against the U.S. dollar on a monthly basis. It charges 48 bps in fees (see all Asia-Pacific (Developed) ETFs here).
Why the Move?
Global stocks have staged a decent stretch lately on hopes of a Brexit deal by the end of this month and reports of a “Phase 1” trade deal between the United States and China. Risk-on trade sentiments subdued the strength of the yen, which in turn benefited this currency-hedged Japan ETF.
More Gains Ahead?
The fund has a Zacks ETF Rank #1 (Strong Buy). Also, HEWJ has a positive weighted alpha of 4.40, which gives cues of further rally.
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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.
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For investors looking for momentum, iShares Currency Hedged MSCI Japan ETF (HEWJ - Free Report) is probably a suitable pick. The fund just hit a 52-week high — up roughly 19.0% from its 52-week low of $27.33/share.
Does it have more gains in store? Let’s take a look at the fund and its near-term outlook to gain an insight into where it might be headed:
HEWJ in Focus
The underlying MSCI Japan 100% Hedged to USD Index consists of stocks traded primarily on the Tokyo Stock Exchange with the currency risk of the securities included in the underlying index hedged against the U.S. dollar on a monthly basis. It charges 48 bps in fees (see all Asia-Pacific (Developed) ETFs here).
Why the Move?
Global stocks have staged a decent stretch lately on hopes of a Brexit deal by the end of this month and reports of a “Phase 1” trade deal between the United States and China. Risk-on trade sentiments subdued the strength of the yen, which in turn benefited this currency-hedged Japan ETF.
More Gains Ahead?
The fund has a Zacks ETF Rank #1 (Strong Buy). Also, HEWJ has a positive weighted alpha of 4.40, which gives cues of further rally.
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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