Investors seeking momentum may have iShares Global Consumer Staples ETF KXI on radar now. The fund recently hit a new 52-week high. Shares of KXI are up approximately 40.4% from their 52-week low of $41.46/share.
But could there be more gains ahead for this ETF? Let’s take a look at the fund and the near-term outlook to get a better idea of where it might be headed.
KXI in Focus
The fund looks to provide exposure to the global consumer staples sector, including allocations to United States (52.84%) and international stocks.The United Kingdom (10.67%), Switzerland (9.45%) and Japan (6.84%) take the next three spots. It charges 46 bps in fees.
Why the Move?
As markets are facing an alarming threat for the second wave of coronavirus, the lure for safe sectors like consumer staples has charged up globally.
More Gains Ahead?
The fund has a positive weighted alpha of 10.80. So, there is a decent outlook ahead for those who want to ride this surging ETF a shade 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 >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
iShares Global Consumer Staples ETF (KXI): ETF Research Reports
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
