Russia ETFs Flirt With Bear Market, Still Gaining Assets

Russia’s benchmark Micex Index “trades at 5 times estimated 12-month earnings, the cheapest in emerging markets,” according to Bloomberg.

In a sign of how swift the pullback in emerging markets ETFs has been this month, RSX’s roughly 3% loss for September is enough to make it the best of the four major single-country ETFs tracking BRIC economies.

Russia ETFs are not alone in their bear market flirtations. With Monday’s tumble on news President Dilma Rousseff is pulling ahead of challenger Marina Silva just days before Brazil’s Oct. 5 national elections, the iShares MSCI Brazil Capped ETF (NYSEArca: EWZ) is Monday’s worst-performing non-leveraged ETF. With a September loss of 18.8%, EWZ could enter bear market territory in a matter of days. [Brazil ETF Gets Closer to Bear Market]

Market Vectors Russia ETF

ETF Trends editorial team contributed to this post.