Economic bservers are remain cautious over the market outlook. While President Vladimir Putin and other Russian politicians argue that the worst is over, the economy is expected to remain in a recession for the year. Russia’s GDP is expected to contract again this year, extending what is becoming a lengthy recession.

Investors have pulled nearly $56 million from RSX since the start of this year. As Bloomberg notes, local Russian investors are sticking with their country’s stocks.

Market Vectors Russia ETF