Additionally, Tuesday’s notable inflows to RSX arrived the same day Standard & Poor’s placed Russia’s sovereign debt on CreditWatch with negative implications, indicating Russia could lost its already tenuous grasp on its investment-grade credit rating. [Russia Flirts With Junk Rating]
In April, Standard & Poor’s lowered its rating on Russian sovereign debt to BBB-, the lowest investment grade. S&P’s move to put Russia on CreditWatch negative reflects the ratings agency’s “view that there is at least a one-in-two likelihood of a negative rating action within 90 days,” according to S&P.
Year-to-date, investors have added $1.35 billion to RSX, just under the $1.5 billion of combined inflows to the WisdomTree India Earnings Fund (NYSEArca: EPI) and the iShares MSCI Brazil Capped ETF (NYSEArca: EWZ).
Market Vectors Russia ETF
ETF Trends editorial team contributed to this post.