For investors looking for momentum, iShares Core Growth Allocation ETF (AOR Quick QuoteAOR - Free Report) is probably a suitable pick. The fund just hit a 52-week high and is up 23.8% from its 52-week low price of $45.12/share.

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

AOR in Focus

This ETF seeks to track the investment results of an index composed of a portfolio of underlying equity and fixed income funds intended to represent a growth allocation target risk strategy. It has AUM of $1.81 billion and charges 25 basis points in annual fees.

Why the Move?

The U.S. economy is appearing to be on the path of recovery from the pandemic-led slowdown. Markedly, accelerated vaccine distribution, strong fiscal stimulus support and the reopening of non-essential businesses are expected to fasten the economic recovery pace. Notably, the central bank has raised its economic growth outlook considering the vaccine and stimulus optimism and it also expects higher inflation this year. Furthermore, certain economic data releases are pointing toward economic recovery. This is making funds like AOR an attractive investment option.

More Gains Ahead?

It seems like the fund will remain strong, with a positive weighted alpha of 18.54, which gives cues of further rally.

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