We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
For investors seeking momentum, VanEck India Growth Leaders ETF (GLIN - Free Report) is probably on radar. The fund just hit a 52-week high and is up 24.09% from its 52-week low price of $30.63/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.
GLIN in Focus
The underlying MarketGrader India All-Cap Growth Leaders Index consists of fundamentally sound India based companies that exhibit attractive growth potential at a reasonable price. Information technology, financials and industrials are the top three sectors, with double-digit allocations of 22.48%, 20.72% and 15.05%, respectively. The product charges 80 bps in annual fees (See: all the Asia-Pacific ETFs here).
Why the Move?
India’s growth projections for 2023 have been raised to 6.1% by the IMF, placing it to become the fastest-growing major economy this year, overtaking China. Guided by robust growth forecasts for the fourth quarter and fueled by domestic investments, the forecast makes India a destination for global growth.
According to Goldman Sachs, as quoted on CNBC, India is poised to overtake the United States to become the second-largest economy globally by 2075. Manufacturing PMI Index in July showcasing robust and growing conditions, as per S&P Global, is another reason for the optimism surrounding the fund.
More Gains Ahead?
Currently, GLIN has a Zacks ETF Rank #3 (Hold). However, it might continue its strong performance given a positive weighted alpha of 15.90.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Asia-Pacific ETF (GLIN) Hits New 52-Week High
For investors seeking momentum, VanEck India Growth Leaders ETF (GLIN - Free Report) is probably on radar. The fund just hit a 52-week high and is up 24.09% from its 52-week low price of $30.63/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.
GLIN in Focus
The underlying MarketGrader India All-Cap Growth Leaders Index consists of fundamentally sound India based companies that exhibit attractive growth potential at a reasonable price. Information technology, financials and industrials are the top three sectors, with double-digit allocations of 22.48%, 20.72% and 15.05%, respectively. The product charges 80 bps in annual fees (See: all the Asia-Pacific ETFs here).
Why the Move?
India’s growth projections for 2023 have been raised to 6.1% by the IMF, placing it to become the fastest-growing major economy this year, overtaking China. Guided by robust growth forecasts for the fourth quarter and fueled by domestic investments, the forecast makes India a destination for global growth.
According to Goldman Sachs, as quoted on CNBC, India is poised to overtake the United States to become the second-largest economy globally by 2075. Manufacturing PMI Index in July showcasing robust and growing conditions, as per S&P Global, is another reason for the optimism surrounding the fund.
More Gains Ahead?
Currently, GLIN has a Zacks ETF Rank #3 (Hold). However, it might continue its strong performance given a positive weighted alpha of 15.90.