For investors seeking momentum, iShares U.S. Healthcare Providers ETF (IHF - Free Report) is probably on radar now. The fund just hit a 52-week high, which is up roughly 45.6% from its 52-week low price of $139.65/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:
IHF in Focus
The fund offers exposure to a basket of healthcare provider companies. The fund charges investors 43 basis points a year in fees and has top holdings Unitedhealth Group, CVS Health Corp and Anthem (see all Healthcare ETFs here).
Why the Move?
Healthcare has been one of the best-performing sectors lately thanks to its non-cyclical nature, which provides a defensive tilt to the fund’s portfolio in a volatile market caused by trade war fear and rising rate worries. Also, a positive regulatory backdrop have helped the fund.
More Gains Ahead?
The fund has a Zacks Rank #2 (Buy) and a positive weighted alpha of 38.60. So, there is definitely still some promise for those who want to ride on this surging ETF a little longer.
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