Russia’s economy slowed down during the first three months of the year, with a slight slump during February. But don’t let this deter you from a growing emerging market that is now covered by two exchange traded funds (ETFs).

Russia’s Economy Ministry stated that GDP grew a seasonally adjusted 0.6% in the first quarter compared with the previous quarter, and on a seasonally adjusted basis, GDP increased a quarterly 1.7% in the fourth quarter and 2% in the third, reports Paul Abelsky for BusinessWeek. [Russia ETFs: Ready to Power Up?]

The economy expanded 0.2% in March from the previous month after a 0.7% drop in February. GDP jumped 4.5% in the first quarter year-over-year. Russia’s trade surplus surged to $46 billion in the first quarter as compared to $18.8 billion a year earlier.

Investors may gain exposure to Russia’s growing economy through the SPDR S&P Russia (NYSEArca: RBL) and the Market Vectors Russia ETF (NYSEArca: RSX), remarks Douglas for ETF Investing.

The recently launched RBL has a daily trading volume of 7.9k with $4.6 million in assets and an expense ratio of 0.59%. RBL holdings has many of the same companies as rival fund RSX has, including Gazprom, Lukoil, Rosneft and Surgutneftegaz in the energy sector. [State Street Launches New Russia ETF.]

RSX has been around since April 27, 2007 and has a daily average volume of 2.8 million with $2.0 billion in assets. The fund has an expense ratio of 0.62%. Top sector allocations include energy at 40% and industrial materials at 26.4%.

For more information on Russia, visit our Russia category.

Max Chen contributed to this article.

The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.