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Investors seeking momentum may have S&P 500 Real Estate Sector SPDR (XLRE - Free Report) on radar now. The fund recently hit a new 52-week high. Shares of XLRE are up approximately 42.6% from their 52-week low of $30.03/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.
XLRE in Focus
The underlying Real Estate Select Sector Index includes securities of companies from the following industries real estate management and development and REITs, excluding mortgage REITs. The expense ratio is 0.12%.
Why the move?
The real estate corner of the broad market has been an area to watch lately given the Fed’s accommodative stance, which resulted in gradual rise in bond yields with the U.S. economic growth. This has returned the lure for rate-sensitive sectors like real estate.
The rise in cost of shelter is also a plus for the real estate stocks and ETFs. Rising home prices have also boosted the demand for renting. Industrial real estate demand, rent prices and deliveries have also been in an uptrend in some parts of the United States.
More Gains Ahead?
The fund has a positive weighted alpha of 31.62. So, there is a decent outlook ahead for those who want to ride this surging ETF a shade further.
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Real Estate ETF (XLRE) Hits New 52-Week High
Investors seeking momentum may have S&P 500 Real Estate Sector SPDR (XLRE - Free Report) on radar now. The fund recently hit a new 52-week high. Shares of XLRE are up approximately 42.6% from their 52-week low of $30.03/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.
XLRE in Focus
The underlying Real Estate Select Sector Index includes securities of companies from the following industries real estate management and development and REITs, excluding mortgage REITs. The expense ratio is 0.12%.
Why the move?
The real estate corner of the broad market has been an area to watch lately given the Fed’s accommodative stance, which resulted in gradual rise in bond yields with the U.S. economic growth. This has returned the lure for rate-sensitive sectors like real estate.
The rise in cost of shelter is also a plus for the real estate stocks and ETFs. Rising home prices have also boosted the demand for renting. Industrial real estate demand, rent prices and deliveries have also been in an uptrend in some parts of the United States.
More Gains Ahead?
The fund has a positive weighted alpha of 31.62. 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>>