John Hancock Multifactor Developed International ETF (JHMD Quick QuoteJHMD - Free Report) is probably a suitable pick for investors looking for momentum. The fund just hit a 52-week high and is up 52.2% from its 52-week low price of $26.12/share.

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

JHMD in Focus

The fund is designed to provide exposure to the John Hancock Dimensional Developed International Index. It has AUM of $503.7 million and charges 39 basis points in annual fees.

Why the Move?

The coronavirus vaccine rollout is gradually helping control the spread of the outbreak across the globe. The optimism surrounding the gradual reopening of global economies and increasing demand paints a rosy picture for global economic growth. Moreover, the progress in coronavirus vaccine rollout presents a strong case,favoring a faster return to normalcy and economic recovery. This makes funds like JHMD an attractive investment option.

More Gains Ahead?

It seems like the fund will remain strong, with a positive weighted alpha of 13.07, which gives cues of a further rally.