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For investors seeking momentum, iShares Core S&P 500 ETF IVV is probably on the radar. The fund just hit a 52-week high and is up 26% from its 52-week low of $485.19 per share.
But are more gains in store for this ETF? Let us take a quick look at the fund and the near-term outlook on it to get a better idea of where it might be headed:
IVV in Focus
iShares Core S&P 500 ETF tracks the S&P 500 Index with key holdings in the information technology, financials, consumer discretionary and healthcare sectors accounting for a double-digit allocation each. The ETF charges 3 bps in annual fees (see: all the Large-Cap Blend ETFs here).
Why the Move?
The large-cap corner of the broad investing world has been an area to watch lately, given that the S&P 500 is making new record highs. The large-cap index logged its best first week for any presidential term since 1985. After taking office for the second term last week, President Donald Trump talked about policies to boost the economy and lower taxes while softening his stance toward tariffs on China. The action has bolstered investors' confidence in the U.S. stock market.
More Gains Ahead?
Currently, IVV has a Zacks ETF Rank #1 (Strong Buy) with a Medium risk outlook, suggesting that the outperformance could continue in the months ahead. However, many sectors 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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iShares Core S&P 500 ETF (IVV): ETF Research Reports