For investors looking for momentum, Guggenheim S&P 500 Equal Weight Consumer Staples ETF (RHS) is probably on radar now. The fund just hit a 52-week high, which is up roughly 79.4% from its 52-week low price of $69.51/share. But could more gains be ahead for this ETF? Let’s take a quick look at the fund and the near term outlook to get a better idea on where it might be headed: RHS in Focus RHS focuses on the consumer staples segment of the U.S. market. The fund has a large cap focus with key holdings in the food and drug retailing, beverages, food products, tobacco, household products and personal products segments. RHS charges investors 40 basis points a year in fees and has top holdings in Constellation Brands, Mead Johnson Nutrition and Kraft Heinz (see all the consumer staples ETFs here). Why the move? The consumer staples sector has been an area to watch lately as markets are volatile in the wake of some downbeat corporate results which led investors to bet big on defensive sectors like consumer staples. Plus, greater spending power in the wake of improving wage growth is helping the consumer segment. More Gains Ahead? Currently, RHS has a Zacks ETF Rank #3 (Hold) so it is hard to get a handle on its future returns one way or the other. However, RHS has positive weighted alpha of 16.30. A positive weighted alpha hints at more gains. So, it looks like there is still some promise for those who want to ride this surging ETF a little further. 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 >> 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 GUGG-SP5 EW C S (RHS): ETF Research Reports To read this article on Zacks.com click here. Zacks Investment Research 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