For investors seeking momentum, Nushares ESG Large-Cap Growth ETF (NULG - Free Report) is probably on radar now. The fund just hit a 52-week high and is up around 20.7% from its 52-week low price of $28.24/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:
NULG in Focus
This fund employs a passive management approach, investing primarily in large-cap U.S. stocks that exhibit overall growth style characteristics and satisfy certain environmental, social and governance (“ESG”) criteria. It has key holdings in information technology, accounting for one-third of the portfolio, while consumer discretionary and health care round off the next two spots. It charges 35 basis points in annual fees (see: all the Large Cap ETFs here).
Why the Move?
The large-cap growth space of the broad U.S. stock market has been an area to watch lately given the easing trade fears with China. The world’s largest economies put trade war on hold, dropping their tariff threats and setting up a framework to address potential trade imbalances in the future. In fact, China has promised to purchase more U.S. goods and services, including energy and agricultural products that would support growth and employment in the United States. And China’s latest move to curb import tariff on auto and some consumer products is a step forward to defuse tensions with the Trump administration over the trade imbalance.
More Gains Ahead?
It seems that NULG might remain strong given a high weighted alpha of 20.31% and a low 20-day volatility of 13.81%. As a result, there is definitely still some promise for investors who want to ride on this surging ETF a little further.
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 >>