Xtrackers Harvest CSI 500 China A-Shares Small Cap ETF (ASHS Quick QuoteASHS - Free Report) is probably on the radar for investors seeking momentum. The fund just hit a 52-week high and has moved up 66.9% from its 52-week low price of $27.86 per 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.

ASHS in Focus

The underlying CSI 500 Index aims to track 500 small cap companies listed on the Shanghai and Shenzhen stock exchanges. The product charges 0.65% in annual fees.

Why the Move?

Optimism surrounding a potential truce in the Middle East has lifted markets. plus, Chinese stocks rose lately, following a rally in their global peers as investors remained largely optimistic over artificial intelligence-driven (AI) demand in the sector.

More Gains Ahead?

ASHS might remain strong, given its positive weighted alpha of 67.20 (per barchart.com). There is definitely still some promise for investors who want to ride on this surging ETF.