Back to top
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.
Image: Bigstock
Large-Cap Growth ETF (VONG) Hits New 52-Week High
For investors seeking momentum, Russell 1000 Growth ETF (VONG - Free Report) is probably on the radar. The fund just hit a 52-week high and is up 48% from its 52-week low of $65.85 per share.
But are more gains in store for this ETF? Let us 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:
VONG in Focus
Russell 1000 Growth ETF targets the growth segment of the large-cap space. It is heavy on the information technology sector with a 55.2% allocation, while consumer discretionary and healthcare round off the next two spots. VONG charges 8 bps in annual fees (see: all the Large-Cap Growth ETFs here).
Why the Move?
The large-cap growth corner of the broad investing world has been an area to watch lately, given that the S&P 500 is hitting new all-time highs. Strong earnings growth outlook, optimism over potential interest rate cuts and the artificial intelligence craze have been driving the rally. In particular, growth stocks tend to outperform in a trending market (i.e., a market characterized by a prolonged uptrend).
More Gains Ahead?
Currently, VONG has a Zacks ETF Rank #2 (Buy) with a Medium risk outlook, suggesting that the outperformance could continue in the months ahead. However, many sectors that make up this ETF have a strong Zacks Industry Rank. So, there is definitely some promise for those who want to ride this surging ETF a little further.