For investors seeking momentum, the iShares MSCI Global Sustainable Development Goals ETF (SDG Quick QuoteSDG - Free Report) is probably on the radar now. The fund just hit a 52-week high and rose 17.6% from its 52-week low price of $79.77 per share.

But are there more gains in store for this ETF? Let us take a quick look at the fund and its near-term outlook to get a better sense of where it might head.

SDG in Focus

The fund provides exposure to companies advancing sustainable themes in an equity portfolio. The fund charges 50 basis points (bps) in annual fees (See: all World ETFs here).

What Has Led to the Rise?

Strong earnings from the fund’s top holdings, including semiconductor heavyweights like Marvell Technology and NVIDIA, alongside healthcare giant Novartis and solar leader First Solar, provided significant upward momentum to SDF in recent times. Expanding institutional inflows into impact-focused ESG strategies must have continued to push the fund's net asset value to a new 52-week peak.

More Gains Ahead?

SDG may continue its strong performance in the near term, with a positive weighted alpha of 15.53 (per Barchart.com), which suggests a rally.