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For investors seeking momentum, iShares Global Utilities ETF (JXI - Free Report) is probably on the radar. The fund just hit a 52-week high and is up 22.04% from its 52-week low price of $59.63/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:
JXI in Focus
The underlying S&P Global 1200 Utilities (Sector) Capped Index measures the performance of companies that are part of the utilities sector of the economy. The top three geographical allocations of the fund are the United States (65.22%), the United Kingdom (6.7%) and Spain (6.35%). The product charges 41 bps in annual fees (See: All Utilities/Infrastructure ETFs).
Why the Move?
The utilities corner of the market has been an area to watch lately, given the rising volatility in the market stemming from the tariff-induced trade war. Utilities are less vulnerable to drastic market fluctuations, making them a defensive investment or safe haven during economic or political instability. Rising geopolitical tensions should also help boost the fund’s prospects.
More Gains Ahead?
JXI might continue its strong performance in the near term, with a positive weighted alpha of 15.96 (as of Barchart.com), which gives cues of a further rally.
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Utilities ETF (JXI) Hits New 52-Week High
For investors seeking momentum, iShares Global Utilities ETF (JXI - Free Report) is probably on the radar. The fund just hit a 52-week high and is up 22.04% from its 52-week low price of $59.63/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:
JXI in Focus
The underlying S&P Global 1200 Utilities (Sector) Capped Index measures the performance of companies that are part of the utilities sector of the economy. The top three geographical allocations of the fund are the United States (65.22%), the United Kingdom (6.7%) and Spain (6.35%). The product charges 41 bps in annual fees (See: All Utilities/Infrastructure ETFs).
Why the Move?
The utilities corner of the market has been an area to watch lately, given the rising volatility in the market stemming from the tariff-induced trade war. Utilities are less vulnerable to drastic market fluctuations, making them a defensive investment or safe haven during economic or political instability. Rising geopolitical tensions should also help boost the fund’s prospects.
More Gains Ahead?
JXI might continue its strong performance in the near term, with a positive weighted alpha of 15.96 (as of Barchart.com), which gives cues of a further rally.