Value ETF (IVE) Hits a New 52-Week High
For investors seeking momentum, iShares S&P 500 Value ETF IVE is probably on the radar. The fund just hit a 52-week high and is up 18.75% from its 52-week low price of $193.90/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 of where it might be headed:
IVE in Focus
The S&P 500 Value Index measures the performance of the large capitalization value sector of the U.S. equity market. It is a subset of the S&P 500 and consists of those stocks in the S&P 500 that exhibit the strongest value characteristics. The product charges 18 bps in annual fees (see: all the Large Cap Value here).
Why the Move?
The value sector of the market has been an area to watch lately, amid persistent volatility in the tech sector and broader economic uncertainty. Historically, value stocks have demonstrated resilience during periods of market uncertainty and have often delivered strong long-term returns. They can also offer lower volatility and more attractive risk-adjusted performance compared with growth and blend stocks.
More Gains Ahead?
Currently, IVE has a Zacks ETF Rank #1 (Strong Buy) with a Medium risk outlook. It might continue its strong performance in the near term, with a positive weighted alpha of 16.38 (as per Barchart.com), which gives cues of a further rally.
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iShares S&P 500 Value ETF (IVE): ETF Research Reports
This article originally published on Zacks Investment Research (zacks.com).
Source Zacks-com
