For investors seeking momentum, iShares Russell 2000 ETF IWM is probably on radar. The fund just hit a 52-week high and is up 117% from its 52-week low of $95.69 per 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.IWM in FocusThis fund targets the small-cap segment of the broad U.S. equity market with key holdings in healthcare, industrials, financials, information technology and consumer discretionary. It charges 19 basis points in annual fees (see: all the Small-Cap Blend ETFs here).Why the Move?The small-cap corner of the broad U.S. stock market has been an area to watch lately given its outperformance in the first week of 2021. COVID-19 vaccine rollout, and hopes of a bigger fiscal package and infrastructure spending under a Democratic-led U.S. Congress are propelling the small-cap indices to new highs. As small-cap companies are closely tied to the U.S. economy, these are poised to outperform when the economy improves.More Gains Ahead?Currently, IWM has a Zacks ETF Rank #3 (Hold) with a Medium risk outlook. Therefore, it is hard to get a handle on its future returns one way or the other. However, many of the segments that make up this ETF have a strong Zacks Industry Rank. So, there is definitely some promise for those who want to ride this surging ETF a little further.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 iShares Russell 2000 ETF (IWM): ETF Research Reports To read this article on Zacks.com click here.