Will this ETF continue its string of recent wins? Let’s take a closer look at the fund, its recent gains, the category it resides in, and its ratings and outlook to get a sense of whether its momentum is sustainable or not.
Inside MOO’s Rise
As mentioned earlier, MOO has now gained 27.42% from its 52-week low, which was hit back on January 25, 2016. The fund has now returned 4.30% over the past month, 10.26% over the past three months, and 11.25% in the past six months. Those returns compare very favorably to the benchmark S&P 500 index’s 0.19%, 6.43%, and 5.47% returns in the same periods, respectively. Clearly, the Ag sector is outperforming greatly right now.
MOO currently sits above its 10-day, 20-day, 50-day, 100-day, and 200-day moving averages (MAs), which from a technical standpoint suggests a very strong possibility that the recent gains can continue. That’s because the shares have no short-term overhead resistance to bump up against.
A Look Under The Hood
Market Vectors Agribusiness ETF is an Equity-focused product issued by Van Eck Associates. Its expense ratio of 0.55% makes it the #17 cheapest ETF among 119 total funds in the Commodity ETFs category.
MOO currently boasts $804.10M in assets under management (AUM), placing it #11 of 119 ETFs in its category, and #346 of 1922 total ETFs in the U.S. exchange traded universe.
The investment objective of the Market Vectors-Agribusiness ETF seeks to replicate as closely as possible the price and yield performance of the Market Vectors Global Agribusiness Index. Looking at MOO’s top holdings, we see large cap seed makers like Syngenta and Monsanto, along with equipment makers like Deere & Co., and even poultry producer Tyson Foods. Several foreign ag-focused names also populate the fund.
MOO SMART Grade: More Gains Ahead?
A SMART Grade of A suggests extremely solid future price growth potential, so it’s reasonable to expect even more gains ahead. MOO receives our highest approval right now.
For more information about this ETF, including full ratings, news, data, and more, please visit MOO’s ticker page.
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