For investors looking for momentum, iShares Cohen & Steers REIT ETF ICF is probably on radar now. The fund just hit a 52-week high. Shares of ICF are up roughly 20.1% from their 52-week low price of $88.4/share.
But could more gains be ahead for this ETF? Let’s take a quick look at the fund and the near-term outlook to get a better idea on where it might be headed:
ICF in Focus
The fund tracks the Cohen & Steers Realty Majors Index that provides exposure to large real estate companies dominant in their respective property sectors. Specialized REITs (27%), Residential REITs (19.3%), Retail REITs (16.8%) and Office REITs (13.6%) have a double-digit allocation each. It charges 34 bps as fees (see: all the Real Estate ETFs here)
Why the move?
The recent stock market decline has made investors park their money in long-term debts, thereby pulling down yields. This has pulled down the average 30-year mortgage rate to a two-month low of 4.75%., increasing the appeal of the real estate sector, which is rate sensitive.
More Gains Ahead?
Currently, ICF has a Zacks ETF Rank #3 (Hold). So, it is hard to get a handle on its future returns one way or another. It seems that the outperformance could continue in the days ahead as the fund has a positive weighted alpha of 8.5 and a decent 20-day historical volatility of 13.16%
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ISHARS-C&S REIT (ICF): ETF Research Reports
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