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For investors looking for momentum, SPDR S&P International Dividend (NYSE:DWX) ETF DWX is probably a suitable pick. The fund just hit a 52-week high — up roughly 18.2% from its 52-week low of $33.89/share.
Does it have more gains in store? Let’s take a look at the fund and its near-term outlook to gain an insight into where it might be headed:
DWX in Focus
The underlying S&P International Dividend Opportunities Index measures the performance of 100 highest dividend-yielding common stocks and ADRs listed in primary exchanges of countries included in the S&P Global (NYSE:SPGI) BMI ex U.S.
The fund is heavily invested in sectors like financials (24.52%), utilities (20.51%), real estate (18.10%) and communication services (11.82%). Canada and Japan have double-digit weights in the fund. It charges 45 bps in fees (see all World ETFs here).
Why the Move?
Incessant cheap money inflows amid global policy easing are pushing stocks higher. A few upbeat earnings and trade optimism have been propelling the stocks higher.
More Gains Ahead?
The fund also has a positive weighted alpha of 10.90, which gives cues of further rally.
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