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Russell 1000 ETF Surges To New 52-Week Highs
Investors looking for ETFs with rising momentum should consider the iShares Russell 1000 Growth Index Fund (IWF). This product just hit a new 52-week high of $107.8 yesterday, and is now up 23.37% from its 52-week low price of $87.38 per share.
Will this ETF continue its string of recent wins? Let’s take a closer look at the fund, its recent gains, the category it resides in, and its ratings and outlook to get a sense of whether its momentum is sustainable or not.
Inside IWF’s Rise
As mentioned earlier, IWF has now gained 23.37% from its 52-week low, which was hit back on February 11, 2016. The fund has now returned 1.77% over the past month, 5.03% over the past three months, and 4.40% in the past six months. Those returns compare to the benchmark S&P 500 index’s 0.89%, 6.58%, and 6.14% returns in the same periods, respectively.
IWF currently sits above its 10-day, 20-day, 50-day, 100-day, and 200-day moving averages (MAs), which from a technical standpoint suggests a very strong possibility that the recent gains can continue. That’s because the shares have no short-term overhead resistance to bump up against.
A Look Under The Hood
iShares Russell 1000 Growth Index Fund is an Equity-focused product issued by BlackRock. Its expense ratio of 0.20% makes it the #11 cheapest ETF among 29 total funds in the Large Cap Growth ETFs category.
IWF currently boasts $32.39B in assets under management (AUM), placing it #2 of 29 ETFs in its category, and #14 of 1915 total ETFs in the U.S. exchange traded universe.
The investment objective of the iShares Russell 1000 Growth ETF is to track the investment results of an index composed of large- and mid-capitalization U.S. equities that exhibit growth characteristics. You’ll note that small-cap stocks are absent from this index, with the large and mid cap names perhaps beginning to outperform their small cap counterparts early in 2017.
IWF SMART Grade
IWF currently has an ETF Daily News SMART Grade of A (Strong Buy), and is ranked #2 of 31 funds in the Large Cap Growth ETFs category.
For more information about this ETF, including full ratings, news, data, and more, please visit IWF’s ticker page.
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