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For investors seeking momentum, iShares MSCI France ETF (EWQ - Free Report) is probably on radar now. The fund just hit a 52-week high, and is up about 24.1% from its 52-week low price of $21.00 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 on where it might be headed:
EWQ in Focus
EWQ offers targeted exposure to large and mid-sized companies in France. Holding 77 stocks in its basket, it is skewed toward the top two firms with a combined allocation of 16.7% share while other firms hold less than 5.3% of assets. The fund has key holdings in the industrials, consumer discretionary and financial sectors. It charges 48 bps in annual fees (see: all the European Equity ETFs here).
Why the Move?
The French stock market has been an area to watch lately given the first round of presidential election on April 23. The latest poll shows centrist Emmanuel Macron leading the presidential race with 29% of votes as compared to 19% for the far-right National Front party leader Marine Le Pen. This has spread optimism in the French equity markets, sending the stocks and ETFs higher.
More Gains Ahead?
Currently, EWQ has a Zacks ETF Rank of 3 or ‘Hold’ rating with a Medium risk outlook. Therefore, it is hard to get a handle on its future returns one way or the other. However, many of the segments that make up this ETF have a strong Zacks Industry Rank. Further, this fund might remain strong given a high weighted alpha of 12.40% and a low 20-day volatility of 12.29%. As a result, there is still some promise for investors who want to ride on this surging ETF.
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France ETF (EWQ) Hits New 52-Week High
For investors seeking momentum, iShares MSCI France ETF (EWQ - Free Report) is probably on radar now. The fund just hit a 52-week high, and is up about 24.1% from its 52-week low price of $21.00 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 on where it might be headed:
EWQ in Focus
EWQ offers targeted exposure to large and mid-sized companies in France. Holding 77 stocks in its basket, it is skewed toward the top two firms with a combined allocation of 16.7% share while other firms hold less than 5.3% of assets. The fund has key holdings in the industrials, consumer discretionary and financial sectors. It charges 48 bps in annual fees (see: all the European Equity ETFs here).
Why the Move?
The French stock market has been an area to watch lately given the first round of presidential election on April 23. The latest poll shows centrist Emmanuel Macron leading the presidential race with 29% of votes as compared to 19% for the far-right National Front party leader Marine Le Pen. This has spread optimism in the French equity markets, sending the stocks and ETFs higher.
More Gains Ahead?
Currently, EWQ has a Zacks ETF Rank of 3 or ‘Hold’ rating with a Medium risk outlook. Therefore, it is hard to get a handle on its future returns one way or the other. However, many of the segments that make up this ETF have a strong Zacks Industry Rank. Further, this fund might remain strong given a high weighted alpha of 12.40% and a low 20-day volatility of 12.29%. As a result, there is still some promise for investors who want to ride on this surging ETF.
Want key ETF info delivered straight to your inbox?
Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free >>