Germany Equity ETF (FGM) Hits New 52-Week High

By Zacks Investment ResearchStock MarketsNov 28, 2017 04:53AM ET

www.investing.com/analysis/germany-equity-etf-fgm-hits-new-52week-high-200268902

Germany Equity ETF (FGM) Hits New 52-Week High

By Zacks Investment Research | Nov 28, 2017 04:53AM ET

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Investors seeking momentum may have First Trust Germany AlphaDEX Fund FGM on radar now. The fund recently hit a new 52-week high. Shares of FGM are up approximately 47.3% from their 52-week low of $34.17/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.

FGM in Focus

FGM focuses on providing exposure to the German equity market. The fund has key holdings in the Industrials, Consumer Discretionary and Real Estate sectors, with an allocation of 24.3%, 23.3% and 16.2%, respectively. FGM charges investors 80 basis points in fee per year. Its top holdings include Deutsche Lufthansa (DE:LHAG) AG, Rheinmetall AG and Wirecard AG with a little over 14% of the assets allocated to them (see all European Equity ETFs here).

Why the move?

Of late, German markets have been in the spotlight. Optimism related to the country’s politics has been increasing. Social Democrats (SPD) are scheduled to meet with Merkel’s Christian Democratic Union (CDU) later this week for talks of a grand coalition. This has led to a rally in German equities as political stability is expected.

More Gains Ahead?

Currently, FGM has a Zacks ETF Rank #3 (Hold) with a Medium risk outlook. So it is difficult to get a handle on its future returns one way or another. However, the fund has a weighted alpha of 44.6. So, there is a promising outlook ahead for those who want to ride this surging ETF a shade further.

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FT-GERMANY (FGM): ETF Research Reports

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Germany Equity ETF (FGM) Hits New 52-Week High

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