Investors could also be lured back to RSX and Russian stocks due to some of the emerging world’s cheapest valuations. RSX is home to some of the emerging world’s least expensive stocks. The largest Russia ETF trading in the ETF allocates over 37% of its weight to energy stocks, by far its biggest sector weight.

“Valuations in Russia are, as usual, cheap. As the world continues to search for yield, Russia’s 5.1% 2017E dividend yield (IBES) is the highest of any major EM and nearly twice EM’s average of 2.8%. Finance Minister Siluanov has also talked about pushing for higher dividends from state-owned companies,” according to the J.P. Morgan note posted by Barron’s.

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Russian stocks recently got a lift after President Vladimir Putin said Russia, the world’s largest energy exporter, is ready to join OPEC in limiting oil production with either a freeze or a cut, Bloomberg reports. Looking ahead, Putin hoped OPEC would agree in November to limit crude oil production and promised Russia was ready to back such a decision. Russia is the largest non-OPEC producer in the world.

“Valuations remain undemanding in the energy sector. Aside from the trailing 5%+ dividend yield, the sector is pricing in $45 per barrel Brent versus the current price of $50,” adds J.P. Morgan.