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3 ETFs ready to pop on the next market leg higher

A U.S. Navy Aviation Boatswain's Mate signals to launch an F/A-18E Super Hornet aircraft from the flight deck of the aircraft carrier USS George Washington (CVN 73) in the South China Sea
Source: U.S. Department of Defense

With U.S. stocks once again trading at a record, investors are searching for which investments may work for the next leg higher. Here are three ETFs that may be ready to pop.

Exchange-traded funds have become a critical part of the market in the past few years, with investors pouring more than a quarter-trillion dollars into U.S. listed funds in 2014—a new record.

With that in mind, CNBC Pro used a proprietary method to scan these fast-trading funds for the ones that have increasing money flows and whose member stocks have a bright outlook.

Using data from and FactSet, we first ran a screen of more than 500 ETFs focused on different sectors and slices of the market in order to find the funds with spikes in volume over the last five days.

Once we narrowed the list, we calculated the average 12-month return for a typical stock in the ETF based on the consensus Wall Street price targets of each individual member.

Below are the three ETFs that should see some of the biggest gains due to a boost in short-term money flow and as their stock holdings reach their bottoms-up projections.