For investors seeking momentum, FolioBeyond Alternative Income and Interest Rate Hedge ETF (RISR Quick QuoteRISR - Free Report) is probably on radar. The fund just hit a 52-week high and is up 13.1% from its 52-week low price of $29.64/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:

RISR in Focus

FolioBeyond Alternative Income and Interest Rate Hedge ETF is an actively managed that seeks to provide protection against rising interest rates while generating current income under a wide range of interest rate environments. It invests primarily in interest-only mortgage-backed securities (MBS IOs) and U.S. Treasury bonds. The product charges 99 bps in annual fees (see: all the Mortgage-Backed Security ETFs here).

Why the Move?

This corner of the market has been an area to watch lately, given the fears over higher rates for a longer-than-expected period. U.S. yields have been on a surge in recent months, with 10-year yields hovering around a 15-year high. Though inflation is easing, it remains elevated and is above the Fed’s 2% target. The ongoing strength in the economy and the surging oil prices threaten to revive inflationary pressure.

More Gains Ahead?

Currently, RISR might remain strong given a weighted alpha of 6.05 and 20-day volatility of 8.97%. As a result, there is definitely still some promise for risk-aggressive investors who want to ride this surging ETF.