FolioBeyond Alternative Income and Interest Rate Hedge ETF (RISR Quick QuoteRISR - Free Report) is probably on the radar for investors seeking momentum. The fund just hit a 52-week high and moved up 22.81% from its 52-week low price of $30.42/share.

Are more gains in store for this ETF? Let us 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

The fund employs an active strategy, seeking to provide diversification benefits and helps to manage risk from interest rate volatility, while generating current income under a wide range of interest rate environments. The fund has a dividend yield of 7.20%. The product charges 99 bps in annual fees (see: all Mortgage-Backed Security ETFs).

Why the Move?

With reducing expectations of any rate cuts in 2024, funds that provide protection against rising rates gain traction. Not only are projections of a rate cut diminishing, but also a high-ranking Fed official remains open to raising rates, if unfavorable inflation data persists, indicating an uncertain path for interest rates.  

More Gains Ahead?

RISR might continue its strong performance in the near term, with a positive weighted alpha of 7.76, which gives cues of a further rally.