For investors looking for momentum, Amplify International Online Retail ETF is probably a suitable pick. The fund just hit a 52-week high and is up 227.4% from its 52-week low price of $18.57/share.

Let’s take a look at the fund and its near-term outlook to gain an insight into where it might be headed:

XBUY in Focus

This ETF seeks investment results that generally correspond (before fees and expenses) to the price performance of the EQM International Ecommerce Index. It has AUM of $26.9 million and charges 69 basis points in annual fees.

Why the Move?

The coronavirus pandemic has been a boon for the e-commerce industry as people continue to prefer staying indoors and shopping online. Moreover, in order to contain the spread of the virus, governments across the globe had to once again shut down economic activities and impose social-distancing measures. This led to a surge in online purchases of food items and other goods. This is driving orders for online retailers like Amazon, making funds like XBUY an attractive investment option.

More Gains Ahead?

It seems like the fund will remain strong, with a positive weighted alpha of 129.33, which gives cues of further rally.

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