New SPDR Russia ETF Highlights Risks to Russian Equities
March 12, 2010 by Seeking Alpha
Filed under Investment Ideas
Original Article from Seeking Alpha Editor’s Pick
Michael Johnston submits:
The SPDR S&P Russia ETF (RBL) began trading on Thursday, becoming just the second U.S.-listed ETF offering exposure to one of the world’s largest countries and most unique economies. RBL will seek to track the performance of the S&P Russia Capped BMI Index, a float adjusted market cap-weighted benchmark consisting of publicly-traded companies domiciled in Russia.
Russia’s Economy
Russia’s commodity-intensive economy was battered during the recent downturn as demand for raw materials and energy resources plummeted. Since bottoming out, however, Russian equities have delivered huge returns, thanks in large part to a surge in demand for materials from China, Brazil, and other emerging markets (see the Top Ten Performing ETFs Since The Market Bottom).
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