For a good part of this year, the Market Vectors Russia ETF (NYSE: RSX) was the gem of BRIC basket, rising as exchange traded funds tracking Brazilian, Chinese and Indian stocks fell. Those good times were confined to early 2015 because RSX has tumbled 23 percent over the past month as tumbling oil prices have taken their toll on the energy-heavy Russia ETF.
With the United States Brent Oil Fund (NYSE: BNO) -- a relevant comparison because Russia prices its oil exports in Brent terms -- down more than 47 percent over the past six months and trading near 52-week lows, RSX is also in danger off new lows. Now saddled with a small year-to-date loss, RSX closed Monday just 3.5 percent off its 52-week low.
"The sector outlook for Russian oil and gas companies is negative for 2016 due to Fitch Ratings' expectation of continued low oil prices, higher taxes, an end ...
/www.benzinga.com/trading-ideas/long-ideas/15/12/6066884/russia-etfs-on-the-rocks-except-for-one alt=Russia ETFs On The Rocks...Except For One>Full story available on Benzinga.com
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