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All-World ETF (ACWI) Hits New 52-Week High

Sanghamitra Saha

For investors looking for momentum, iShares MSCI ACWI ETF ACWI is probably a suitable pick. The fund just hit a 52-week high — up roughly 23.8% from its 52-week low of $61.01/share.

Does it have more gains in store? Let’s take a look at the fund and its near-term outlook to gain an insight into where it might be headed:

ACWI in Focus

The fund tracks the MSCI ACWI Index. The fund is heavily invested in sectors like financials (17.42%), information technology (16.29%), health care (11.26%), consumer discretionary (10.8%) and industrials (10.15%). United States takes about half of the fund followed by Japan. It charges 31 bps in fees (see all World ETFs here).

Why the Move?

Incessant cheap money inflows amid global policy easing are pushing stocks higher. Since the fund is heavy on the United States, latest rally in Wall Street benefited the fund. A few upbeat earnings and trade optimism have been propelling the stocks higher.

More Gains Ahead?

The fund has a Zacks ETF Rank #2 (Buy). The fund also has a positive weighted alpha of 12.00, which gives cues of further rally.

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iShares MSCI ACWI ETF (ACWI): ETF Research Reports
 
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