For investors seeking momentum, Invesco S&P 500 Low Volatility ETF (SPLV Quick QuoteSPLV - Free Report) is probably on the radar. The fund just hit a 52-week high and is up 20.2% from its 52-week low price of $57.17/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:

SPLV in Focus

Invesco S&P 500 Low Volatility ETF provides exposure to stocks with the lowest realized volatility over the past 12 months. It has key holdings in financials, consumer staples, industrials and utilities, with double-digit exposure each. The product charges 25 bps in annual fees (see: all the Large-Cap Blend ETFs here).

Why the Move?

The low volatility corner of the broader market has been an area to watch lately, given the heightened volatility in the market. While growing anxiety about a slowing U.S. economy, geopolitical tensions and the looming November elections continue to weigh on stocks, the prospect of rate cuts in September is rekindling investors' confidence in the stock market. Low-volatility ETFs have the potential to outpace the broader market in bearish conditions or in an uncertain environment, providing significant protection to the portfolio.

More Gains Ahead?

Currently, SPLV has a Zacks ETF Rank #3 (Hold) with a Medium risk outlook. Therefore, it is hard to get a handle on its future returns one way or the other. However, many of the segments 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.