Interest Rate Hedge ETF (RISR) Hits New 52-Week High
FolioBeyond Alternative Income and Interest Rate Hedge ETF RISR is probably on the radar for investors seeking momentum.The fund just hit a 52-week high and has risen 6.1% from its 52-week low price of $35.25 per share.
Are more gains in store for this ETF? Let us take a quick look at the fund and the near-term outlook on it to get a better idea of where it might be headed.
RISR in Focus
The FolioBeyond Alternative Income and Interest Rate Hedge ETF is an actively managed exchange-traded fund that seeks to provide diversification benefits and helps to manage risk from interest rate volatility, while generating current income under a wide range of interest rate environments. The fund charges 104 bps in fees and it yields about 5.77% annually.
Why the Move?
The interest rate hedge corner of the market has been an area to watch as Treasury yields climb and investors brace for a potentially more hawkish Fed. The 10-year Treasury yield recently rose to its highest level in two decades, following hawkish Fed commentary and persistent inflation.
More Gains Ahead?
RISR might continue its strong performance in the near term, with a positive weighted alpha of 4.50 (per Barchart.com), which hints at a rally.
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This article originally published on Zacks Investment Research (zacks.com).