For investors seeking momentum, iShares MSCI India Small-Cap ETF SMIN is probably on radar now. The fund just hit a 52-week high and is up over 58% from its 52-week low price of $31.81/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:

SMIN in Focus    

This product offers exposure to the small-cap stocks of India. Consumer Discretionary, Financials, Industrials and Materials are the top four sectors of the fund with a double-digit weight each. The fund charges 80 bps in fees (see all Asia-Pacific (Emerging) ETFs here).

Why the Move?

The Indian economy is likely to have picked up paced in the quarter ended September with several forecasts signaling growth of 6.3%. If attained, the growth rate will mark a sharp rebound from a three-year low of 5.7% growth in the prior quarter. This data was enough to spur investors’ optimism around small-cap stocks as capitalization better reflects the domestic economy.

More Gains Ahead?

The fund has a Zacks ETF Rank #2 (Buy) with a High risk outlook. Plus, the fund has a positive weighted alpha of 51.10. A positive weighted alpha hints at more gains. As a result, there is definitely still some promise for investors who want to ride on this surging ETF.

Want key ETF info delivered straight to your inbox?

Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
ISHARS-M IND SC (SMIN): ETF Research Reports
 
To read this article on Zacks.com click here.