For investors seeking momentum, Roundhill Acquirers Deep Value ETF (DEEP Quick QuoteDEEP - Free Report) is probably on radar. The fund just hit a 52-week high and is up 79% from its 52-week low of $20.41 per 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.

DEEP in Focus

This fund provides exposure to the deeply undervalued small-and-micro cap stocks using the Acquirers Multiple, the measure used by activists and buyout firms to identify targets. It has key holdings in financials, industrials and consumer discretionary. The ETF charges 80 basis points in fees (see: all the Small Cap Value ETFs here).

Why the Move?

The value corner of the broad investing world has been an area to watch lately as investors are rotating out of the high-growth areas into the low-valued stocks given that rising commodity prices have sparked inflation fears. Additionally, the improvement in corporate earnings growth bodes well for value stocks.

More Gains Ahead?

Currently, DEEP has a Zacks ETF Rank #2 (Buy), suggesting that the outperformance could continue in the months ahead. However, many of the segments that make up this ETF have a strong Zacks Industry Rank. So, there is definitely some promise for those who want to ride this surging ETF a little further.

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