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Low Volatility ETF (USMV) Hits New 52-Week High
For investors seeking momentum, iShares MSCI USA Min Vol Factor ETF (USMV - Free Report) is probably on the radar. The fund just hit a 52-week high and is up 25.2% from its 52-week low price of $70.38/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:
GSY in Focus
The underlying MSCI USA Minimum Volatility (USD) Index is composed of U.S. equities that, in the aggregate, have lower volatility characteristics relative to the broader U.S. equity market. The ETF charges 15 bps in annual fees.
Why the Move?
The U.S. market has been witnessing volatility lately due to the tech slump and talks of recessionary worries. This has probably led to the rise of low-volatility ETFs like USMV.
More Gains Ahead?
The ETF USMV might continue its strong performance, given its weighted alpha of 20.13, per barchart.com.