The relative performance of the BRIC countries has been marginal this year, but the technical improvements are getting a lot of attention. We’ve been spending the week looking at what’s changed, and where the BRICs might go next.
Russia is an energy titan, and the Market Vectors Russia ETF Trust (RSX, quote) is full of energy stocks. But considering that crude oil is above $108 a barrel and Russia is a major oil exporter, the chart is a disappointment.
The RSX ETF seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the DAXglobal® Russia+ Index. The fund normally invests at least 80% of its total assets in securities that comprise the index. It uses a “passive” or indexing investment approach.
The Bottom Line:
The BRIC emerging markets may not be leading the S&P 500 at this point in time, but 3 out 4 have made key technical breakthroughs. Only time will tell if they can continue — but their conditions have indeed changed for the better, and they warrant being on traders’ radar screens once again.