For example, the Market Vectors Russia ETF (NYSEArca: RSX), the largest Russia ETF, joined BNO as one of 2014’s worst ETFs, but with this year’s Brent rally, RSX has surged 23.4%. That is enough to make RSX the best non-leveraged ETF to this point in 2015. [Bullish on Russia ETFs]

RSX bulls need to monitor BNO and Brent futures because Russia prices its vast oil production in Brent terms. Russia is the largest non-OPEC producer in the world and as such, Moscow is more dependent on oil output as a percentage of government receipts than any other non-OPEC nation.

United States Brent Oil Fund

ETF Trends editorial team contributed to this post.

Subscribe to our free daily newsletters!
Please enter your email address to subscribe to ETF Trends' newsletters featuring latest news and educational events.