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ESG U.S. ETF (ESGV) Hits a 52-Week High

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Investors seeking momentum may have ESG U.S. Stock Vanguard ETF (ESGV) on radar now. The fund recently hit a new 52-week high. Shares of ESGV are up approximately 40.6% from their 52-week low of $58.76/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.

ESGV In Focus

The underlying FTSE US All Cap Choice Index measures the performance of the FTSE USA All Cap Index after excluding companies involved in Vice Products, Non-Renewable Energy and Weapons. The fund charges 12 bps in fees.

Why The Move?

The environmental, social and governance (ESG) investing category continues to remain one of the most popular arenas among investors. ESG funds saw attractive inflows already this year. About $21 billion went into the sustainable investment category in the first quarter of 2021 alone.

U.S. President Joe Biden is known as promoting clean energy. The United States once again entered the Paris climate accord – adopted in 2016 – in the Biden era. Biden wants the United States to achieve a 100% clean energy economy and net-zero emissions, no later than 2050. All these initiatives helped boost ESG investing.

More Gains Ahead?

The fund has a positive weighted alpha of 34.66. So, there is a decent outlook ahead for those who want to ride this surging ETF a shade further.

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Vanguard ESG U.S. Stock ETF (ESGV): ETF Research Reports
 
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