Earlier this year, Russia ETFs surged soon after the Ukraine conflict as investors bought into funds due to some of the lowest valuations in the emerging world and speculations of oversold conditions. From March 20 through July 18, RSX surged 14.6%, making one White House press aide’s bearish call on Russian stocks look not only inappropriate, but foolish as well. [Poor ETF Advice From the White House]
The theme of Russia’s isolation in the wake of the Malaysia Airlines Flight 17 tragedy has also stoked renewed interest in leveraged Russia ETFs. Entering Monday, the Direxion Daily Russia Bear 3x Shares (NYSEArca: RUSS) was Direxion’s second-best bearish fund this month while the Direxion Daily Russia Bull 3x Shares (NYSEArca: RUSL) was the firm’s second-worst bullish ETF, according to issuer data.
Volume in RUSS over the past five days jumped almost 90% above the 20-day average while volume in RUSL was higher by 80.4% over the past week, according to Direxion data.
Market Vectors Russia ETF
