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Invesco FTSE RAFI Emerging Markets ETF (PXH) - free report >>
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Invesco FTSE RAFI Emerging Markets ETF (PXH) - free report >>
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Emerging Markets ETF (PXH) Hits New 52-Week High
For investors seeking momentum, PowerShares FTSE RAFI Emerging Markets ETF (PXH - Free Report) is probably on radar now. The fund just hit a 52-week high, which is up roughly 49.9% from its 52-week low price of $11.75/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:
PXH in Focus
The product offers exposure to emerging market stocks picked on the basis of factors including book value, cash flow, sales and dividend. Financials, energy and materials are the top three sectors of the fund each with a double-digit weight each. The fund charges 49 bps in fees (see all broad emerging market ETFs here).
Why the Move?
Emerging market equities are on a tear lately. The commodity market recovery, a subdued greenback, compelling valuation and most importantly a hunt for yield made emerging market equities ETFs like PXH an intriguing pick.
More Gains Ahead?
Currently, PXH has a Zacks ETF Rank #2 (Buy). Moreover, the fund has a positive weighted alpha of 14.16. A positive weighted alpha hints at more gains.
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