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Russia ETF (ERUS) Hits New 52-Week High

Russia ETF hits a new 52-week high. Can it soar further?

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This story originally appeared on Zacks

Investors seeking momentum may have iShares MSCI Russia ETF ERUS on radar now. The fund recently hit a new 52-week high. Shares of ERUS are up approximately 61.9% from their 52-week low of $29.65/share.

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But could there be more gains ahead for this ETF? Let’s take a look at the fund and the near-term outlook to get a better idea of where it might be headed.

ERUS in Focus

The underlying MSCI Russia 25 / 50 Index is free-float adjusted market capitalization weighted Index designed to measure the performance of equity securities in the top 85% by market capitalization of equity securities listed on stock exchanges in Russia. The fund charges 59 bps in fees.

Why the move?

The energy sector accounts for about half of the fund. With Brent crude rising steadily in recent weeks on higher demand and supply shortage, this fund gained massively. Oil is seemingly the main commodity of Russia. About half of Russia’s exports in terms of value come from oil and natural gas as the country has the sixth-largest oil reserve in the world and the biggest natural gas reserve. This makes it clear why Russia’s economy is highly dependent on oil price movement

More Gains Ahead?

The fund has a positive weighted alpha of 47.89. So, there is a decent outlook ahead for those who want to ride this surging ETF a shade further.



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iShares MSCI Russia ETF (ERUS): ETF Research Reports

 

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