For investors seeking momentum, Invesco DWA Tactical Multi-Asset Income ETF (DWIN - Free Report) is probably on radar. The fund just hit a 52-week high, and is up 9.4% from its 52-week low price of $23.51 per 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:
DWIN in Focus
This fund invests in both fixed income and equity income ETFs including those holding investment-grade and high-yield bonds, fixed-rate preferred shares, dividend-paying equities, U.S. Treasuries, MLPs and real estate investment trusts. It rotates between income-oriented segments, depending on market momentum as well as yield criteria. The fund charges 61 bps in fees and it yields about 5.71% annually.
Why the Move?
Since markets have been volatile lately and there was a bloodbath in the global market at the start of August owing mainly to renewed U.S.-China trade tensions and China’s yuan devaluation, this defensive ETF gained strength. The high-yield nature of the fund makes it an attractive buy in the current low-volatility environment.
More Gains Ahead?
The fund has a positive weighted alpha of 3.40. So, there is definitely still some promise for those who want to ride on this surging ETF a little longer, especially if uncertainty prevails.
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