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Defined Outcome ETF (BALT) Hits New 52-Week High

For investors seeking momentum, Innovator Defined Wealth Shield ETF BALT is probably on radar. The fund just hit a 52-week high and is up 7.7% from its 52-week low price of $25.27/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 of where it might be headed:

BALT in Focus

Innovator Defined Wealth Shield ETF seeks to track the return of the SPDR S&P 500 ETF Trust SPY to a cap and provide a measure of downside protection by seeking to buffer investors against losses. The ETF targets a 20% buffer every three-month outcome period. Innovator Defined Wealth Shield ETF charges 69 bps in annual fees (see: all the Defined Outcome ETFs here).

Why the Move?

The defined outcome ETF has been an area to watch lately, given heightened market uncertainty and volatility. The bank crisis and the Fed’s next move over the rate hike have compelled investors to flock to defensive investment avenues. Innovator Defined Outcome ETFs are the first ETFs that allow investors to take advantage of market growth while maintaining defined levels of buffers against loss.

More Gains Ahead?

Currently, BALT might remain strong given a weighted alpha of 6.05 and higher 20-day volatility of 3.59%. There is definitely still some promise for investors who want to ride on this surging ETF.

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SPDR S&P 500 ETF (SPY): ETF Research Reports

Innovator Defined Wealth Shield ETF (BALT): ETF Research Reports

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Zacks Investment Research