For investors seeking momentum, iShares US Real Estate ETF IYR is probably on radar now. The fund just hit a 52-week high, which is up roughly 17.95% from its 52-week low price of $71.27/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 on where it might be headed:
IYR in Focus
The fund looks to the price and yield performance of Dow Jones U.S. Real Estate Index. The fund has American Tower (NYSE:AMT), Simon Property Group (NYSE:SPG) and Crown Castle International (NYSE:CCI) REIT as its top three holdings. It charges 43 bps in fees (see all Real Estate ETFs here).
Why the Move?
Dovish Fed comments have kept long-term U.S. Treasury bond yields at subdued level this year. This boosted rate-sensitive sectors like real estate.
More Gains Ahead?
The fund has a Zacks Rank #3 (Hold). Also, the fund has a positive weighted alpha of 14.90, which hints at more gains. So, there is definitely still some promise for those who want to ride on this surging ETF a little longer.
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iShares U.S. Real Estate ETF (IYR): ETF Research Reports
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Zacks Investment Research