An exchange traded fund that invests in Peru was down 10% Monday morning in U.S. trading after Ollanta Humala emerged as the victor in a runoff election held over the weekend.

The $489 million iShares MSCI All Peru Capped Index Fund (NYSEArca: EPU) was off 12.8% year to date as of June 3, according to Morningstar, amid the political uncertainty in the country.

Peruvian stocks slipped last week as Keiko Fujimori’s lead versus Humala waned. Many investors do not trust Humala, a leftist former military officer who has struggled to shed ties to Hugo Chavez of Venezuela, Reuters reported.

iShares MSCI All Peru Capped Index Fund

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