For investors seeking momentum, Harbor All-Weather Inflation Focus ETF (HGER) is probably on the radar. The fund just hit a 52-week high and has soared 19.8% from its 52-week low of $21.73 per share.
Are more gains in store for this ETF? Let’s briefly examine the fund and its near-term outlook to gain a better understanding of where it might be headed:
HGER in Focus
This exchange-traded fund offers exposure to 24 of the most liquid commodity futures traded on a U.S. or UK exchange. HGER ETF charges 68 basis points (bps) in annual fees (see: all the Broad Commodity ETFs here).
What Led to the Surge?
Recent market volatility and uncertainty surrounding economic growth have driven capital flows toward diversified commodity ETFs, such as HGER, which can potentially outperform in inflationary environments. Additionally, the fund's significant exposure to gold—an asset that recently touched historic highs — has likely contributed to the upside momentum in HGER.
More Gains Ahead?
HGER may remain strong, given its positive weighted alpha of 15.40 (per barchart.com). The ETF still offers some potential for investors seeking to benefit from its surge.
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This article originally published on Zacks Investment Research (zacks.com).
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