For investors seeking momentum, Vanguard Russell 1000 Growth ETF (VONG Quick QuoteVONG - Free Report) is probably on radar. The fund just hit a 52-week high and is up roughly 37.4% from its 52-week low price of $124.90/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:

VONG in Focus

VONG provides exposure to the growth stocks of the large-cap segment with key holdings in information technology, consumer discretionary, healthcare, financial services and producer durables. The product charges 12 basis points in fees (see: all the Large Cap Growth ETFs here).

Why the Move?

The growth space of the broad U.S. stock market has been an area to watch lately, given that the major bourses hit new all-time highs. The latest rally can be attributed to easing monetary policy and trade deal optimism. Additionally, better-than-expected Q3 corporate earnings also lifted investor sentiment. In particular, growth stocks are leading the rally as these tend to outperform in a trending market (i.e. a market characterized by a prolonged uptrend).

More Gains Ahead?

Currently, VONG has a Zacks ETF Rank #1 (Strong Buy) with a Medium risk outlook, suggesting continued outperformance in the months ahead. Further, many of the segments that make up this ETF have a strong Zacks Industry Rank. So, there is definitely some promise for those who want to ride this surging ETF a little further.

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