For investors seeking momentum, Invesco Defensive Equity ETF DEF is probably on radar now. The fund just hit a 52-week high, and is up 15% from its 52-week low price of $43.68/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:DEF in Focus DEF provides exposure to companies that potentially have superior risk-return profiles during periods of stock market weakness while still offering the potential for gains during periods of market strength. It is tilted toward large-cap stocks with key holdings in healthcare, industrials, information technology and consumer discretionary. The fund charges investors 60 basis point a year in fees (see: all the Large Cap ETFs here).Why the Move?The defensive corner of the stock market has been an area to watch lately given the escalating tit-for-tat tariff threats. President Trump has imposed a new tariff of 10% on $200 billion worth of Chinese goods starting next week. The tariff will be increased to 25% effective Jan 1. China has hit back with tariffs of 10% on $60 billion American goods. Though the tariffs were lower-than-expected and resulted in a market rally, some sectors will likely be hit hard.More Gains Ahead? Currently, DEF 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 still some promise for those who want to ride on this surging ETF a little longer.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 GUGG-DEF EQUITY (DEF): 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