For investors seeking momentum, SPDR S&P 600 Small Cap Growth ETF SLYG is probably on radar. The fund just hit a 52-week high and is up 101% from its 52-week low of $38.47 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.SLYG in FocusThis fund offers exposure to the small-cap stocks that exhibit the strongest growth characteristics based on sales growth, earnings change to price, and momentum. It has key holdings in information technology, healthcare, industrials, consumer discretionary and financials. The ETF charges 15 basis points in annual fees (see: all the Small-Cap Growth ETFs here).Why the Move?The growth space of the U.S. small-cap stocks has been an area to watch lately given the COVID-19 vaccination, which has pushed most of the indices to new highs. A vaccine is being viewed as “a beginning to the end” of the coronavirus pandemic, thereby bolstering investors’ confidence in economic growth. In fact, small caps, which are closely tied to the economy, outperformed the large caps by a wide margin in November to wrap their best monthly performance on record. In particular, growth stocks are leading as these tend to outperform in a trending market (i.e. a market characterized by a prolonged uptrend).More Gains Ahead?Currently, SLYG has a Zacks ETF Rank #2 (Buy) with a Medium risk outlook, suggesting that the outperformance could continue in the months ahead. Further, 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 SPDR S&P 600 Small Cap Growth ETF (SLYG): 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