“To be sure, there could be trouble ahead. S&P’s Russia BMI Index has tumbled 4.4 percent over the past month, underperforming the 3.8 percent return from S&P’s global index. Still, the Russian index outperformed the global ex-U.S. index, which declined 4.6 percent, and is up 3.7 percent year to date, compared with the 8.2 percent decline in the global benchmark and the 9.5 percent drop in the global ex-U.S. Measure,” according to CNBC.
Nevertheless, more intrepid investors may target some of the cheapest emerging markets. For instance, Russi is currently the cheapest on absolute terms, with a forward P/E ratio for the MSCI Russia Index at 4.9, compared to its 5-year average of 5.2, according to Capital Economics.
Market Vectors Russia ETF
