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For investors seeking momentum, iShares Global 100 ETF (IOO - Free Report) is probably on radar. The fund just hit a 52-week high and is up 47% from its 52-week low price of $46.58/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:
IOO in Focus
This fund provides exposure to a broad range of large international companies in developed and emerging markets. It has key holdings in information technology, consumer discretionary, healthcare, consumer staples and financials. The United States take 71% share while the United Kingdom, Switzerland and France make up for top four countries with single-digit exposure each. The product charges 40 basis points in fees (see: all the World ETFs here).
Why the Move?
The global stocks have been an area to watch lately given the higher expectation for strong economic recovery. The International Monetary Fund (IMF) upgraded the economic growth forecast to 6% this year from 5.5% predicted earlier. This represents the fastest expansion since the IMF records dating back to 1980. The combination of rapid COVID-19 vaccinations, progress on more vaccines, and an unprecedented stimulus has been the major catalyst. Additionally, solid economic data from China and the United States are fueling optimism, pushing global stocks to new heights.
More Gains Ahead?
Currently, IOO has a Zacks ETF Rank #3 (Hold) with a Low 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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Global ETF (IOO) Hits New 52-Week High
For investors seeking momentum, iShares Global 100 ETF (IOO - Free Report) is probably on radar. The fund just hit a 52-week high and is up 47% from its 52-week low price of $46.58/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:
IOO in Focus
This fund provides exposure to a broad range of large international companies in developed and emerging markets. It has key holdings in information technology, consumer discretionary, healthcare, consumer staples and financials. The United States take 71% share while the United Kingdom, Switzerland and France make up for top four countries with single-digit exposure each. The product charges 40 basis points in fees (see: all the World ETFs here).
Why the Move?
The global stocks have been an area to watch lately given the higher expectation for strong economic recovery. The International Monetary Fund (IMF) upgraded the economic growth forecast to 6% this year from 5.5% predicted earlier. This represents the fastest expansion since the IMF records dating back to 1980. The combination of rapid COVID-19 vaccinations, progress on more vaccines, and an unprecedented stimulus has been the major catalyst. Additionally, solid economic data from China and the United States are fueling optimism, pushing global stocks to new heights.
More Gains Ahead?
Currently, IOO has a Zacks ETF Rank #3 (Hold) with a Low 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.
Want key ETF info delivered straight to your inbox?
Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free >>