For investors seeking momentum, Vident International Equity Strategy ETF (VIDI Quick QuoteVIDI - Free Report) is probably on the radar. The fund just hit a 52-week high and is up 21% from its 52-week low of $22.86 per 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:

VIDI in Focus

Vident International Equity Strategy ETF seeks exposure to countries with faster economic growth potential, lower fundamental risk, and more favorable demographics relative to a traditional market capitalization-weighted international equity approach. It has key holdings in financials, industrials, consumer discretionary and information technology with double-digit exposure each. VIDI charges 61 bps in annual fees. (see: all the Foreign Large Value ETFs here).

Why the Move?

The international corner of the broad investing world has been an area to watch lately, given its attractive valuations. After more than a decade of U.S. stock market outperformance, international stocks look attractive. Easy fiscal policies, as well as improving economic growth in various international markets, have been compelling investors to bet on them.

More Gains Ahead?

Currently, VIDI has a Zacks ETF Rank #3 (Hold) with a Medium risk outlook. Therefore, it is hard to get a handle on its future returns one way or the other. VIDI might remain strong, given its weighted alpha of 9.66 and a lower 20-day volatility of 13.33%. There is definitely still some promise for investors who want to ride on this surging ETF.