For investors seeking momentum, VanEck Retail ETF RTH is probably on the radar now. The fund just hit a 52-week high and is up 28.2% from its 52-week low price of $206.24 per share.
But are there more gains in store for this ETF? Let’s take a quick look at the fund and its near-term outlook to get a better sense of where it might head.
RTH in Focus
It offers exposure to companies involved in retail distribution, wholesalers, on-line, direct mail and TV retailers, multi-line retailers, specialty retailers and food and other staples retailers. The fund charges 35 basis points (bps) in annual fees (See: all Consumer Discretionary ETFs here).
What Led to the Rise?
Strong performance from top holdings such as Amazon, Walmart and Costco — supported by robust consumer spending data showing rising retail sales and expanding digital marketing — may have driven the RTH fund to touch a 52-week high.
More Gains Ahead?
RTH may continue its strong performance in the near term, with a positive weighted alpha of 16.75 (as per Barchart.com), which suggests a further rally.
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This article originally published on Zacks Investment Research (zacks.com).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
