iShares MSCI Singapore ETF (EWS Quick QuoteEWS - Free Report) is probably on the radar for investors seeking momentum. The fund just hit a 52-week high and has moved up 26.23% from its 52-week low price of $26.69 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.

EWS in Focus

The underlying MSCI Singapore 25/50 Index is designed to measure the performance of the large and mid-cap segments of the Singapore market. The product charges 0.50% in annual fees (see: all Asia-Pacific (Developed) ETFs here).

Why the Move?

On Tuesday, Singapore significantly upgraded its full-year economic growth forecast after the economy performed better than expected in the first half, helped by strength in AI-related sectors and exports. This has strengthened the case for ETFs with Singapore exposure.

The country’s Ministry of Trade and Industry, as quoted on CNBC, raised its 2026 GDP growth forecast to 4.5% to 5.5%, up from its previous projection of 2% to 4%. The new lower-end estimate is more than twice the ministry’s earlier forecast, marking Singapore’s second upgrade to its 2026 growth outlook this year.

More Gains Ahead?

Currently, EWS has a Zacks ETF Rank #3 (Hold) with a Medium risk outlook. It might continue its strong performance in the near term, with a positive weighted alpha of 26.91 (per Barchart.com), which hints at a rally.