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India ETF (EPI) Hits New 52-Week High

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Investors seeking momentum may have WisdomTree India Earnings ETF (EPI - Free Report) on radar now. The fund recently hit a new 52-week high. Shares of EPI are up approximately 64.7% from their 52-week low of $23.45/share.

But could there be more gains ahead for this ETF? Let’s take a look at the fund and the near-term outlook to get a better idea of where it might be headed.

EPI In Focus

The underlying WisdomTree India Earnings Index is a fundamentally weighted index that measures the performance of companies incorporated and traded in India that are profitable and that are eligible to be purchased by foreign investors as of the index measurement date. Weighted Index based on their earnings in their fiscal year prior to the Index measurement date adjusted for foreign investors. The fund charges 84 bps in fees.

Why The Move?

India’s stock market is hovering at a record high. Lower COVID-19 cases and pent-up demand have acted as the tailwind to the Indian market. A rebound in demand has been aiding many industries, starting from autos, where supply is suppressed due to chip shortage, or real estate, which is seeing strong bookings to cash in on the low rates. Better-than-expected gross domestic product and goods and services tax (GST) collection point toward a sustainable rebound in earnings, per a source.

More Gains Ahead?

The fund has a positive weighted alpha of 55.56. So, there is a decent outlook ahead for those who want to ride this surging ETF a shade further.


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