For investors seeking momentum, IShares MSCI Poland ETF (EPOL Quick QuoteEPOL - Free Report) is probably on radar. The fund just hit a 52-week high and is up 75.69% from its 52-week low price of $10.45/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 of where it might be headed:

EPOL in Focus

The underlying MSCI Poland IMI 25/50 Index measures performance of the large, mid and small-cap segments of the equity market in Poland. The product charges 58 bps in annual fees (See: all the European Equity ETFs here).

Why the Move?

The Polish economy is showing positive signs, starting with better-than-expected first-quarter GDP growth. One key driver of growth this year is expected to be net exports, which will act as a flywheel for the economy. Additionally, the labor market remains robust and stable, providing a solid foundation for further economic development.

More Gains Ahead?

Currently, EPOL has a Zacks ETF Rank #3 (Hold). However, it might continue its strong performance, given a positive weighted alpha of 23.30.