For investors seeking momentum, Schwab Fundamental U.S. Broad Market Index ETF (FNDB Quick QuoteFNDB - Free Report) is probably on radar. The fund just hit a 52-week high and is up 31.2% from its 52-week low price of $31.63 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:

FNDB in Focus

This ETF provides exposure to companies based on three fundamental measures of size: adjusted sales, retained operating cash flow and dividends plus buybacks. It has a well-diversified portfolio with key holdings in information technology, financials, industrials, consumer discretionary and healthcare. The fund charges 25 bps in annual fees (read: all the Cap Value ETFs here).

Why the Move?

The broader U.S. market has been an area to watch lately given new record highs logged by the major bourses. Rounds of upbeat economic data and the decision on a phase one trade deal between the United States and China have bolstered investors’ sentiments. A dovish Fed has also added to the strength.

More Gains Ahead?

Currently, FEX has a Zacks ETF Rank #3 (Hold). Therefore, it is hard to get a handle on its future returns one way or the other. However, 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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