Emerging markets exchange traded funds of all stripes are getting ample attention, but, probably for the wrong reasons, Russia ETFs continue to gain fame or infamy.
As was the case two weeks ago, Russia ETFs again dominated this week’s most searched tickers on ETF Trends. Not surprising as last Sunday’s referendum in Crimea meant funds such as the Market Vectors Russia ETF (NYSEArca: RSX) and the iShares MSCI Russia Capped ETF (NYSEArca: ERUS) would be in focus this week. [A Strategist Questions Russia’s Market Status]
RSX, the largest Russia ETF, was the most searched ticker on ETF Trends this week while ERUS occupied the fourth spot. Lest we forget the SPDR S&P Russia ETF (NYSEArca: RBL), which appeared in the fifth spot.
Although Russian equities have come under increased pressure in the wake of the country’s invasion of Ukraine, President Vladimir Putin has recently been able to assuage markets that the annexation of Crimea is enough and that his country has no plans to acquire additional territory. That has been enough to stoke talk of Russian equities, always inexpensive relative to the broader emerging markets universe, finally being alluring enough to scoop up. [Oligarchs See Value in Russia ETFs]
Traders are showing signs of being adventurous because the two most searched leveraged ETFs (by far) on the site this week were the Direxion Daily Russia Bull 3x Shares (NYSEArca: RUSL) and the Direxion Daily Russia Bear 3x Shares (NYSEArca: RUSS). [Leveraged Russia ETFs in Focus]