© Bloomberg

Stay across the latest Ukraine coverage.

Sometimes a snappy paragraph or two can help to elucidate on a crucial market move but, sometimes, a chart tells you all you really need to know:

With the Russian stock market suspended by its central bank, the VanEck Russia ETF, which is traded on the CBOE and has around $1.3bn of assets, is almost the next best thing we have to see how traders are weighing the effect of Western sanctions on the Eurasian nation.

And the answer — down 27.5 per cent today in morning trading — says it all.

For those who want to know, here’s how its portfolio looked as of the end of last month:

With the ADRs (shares deposited in a foreign bank, and then made available to trade on a foreign exchange in the local currency) of its 2nd largest position, Sberbank, down 70 per cent in the UK this Tuesday, a haircut of a third just might be the best it’s going to get for a while for those who decided to bottom fish Russian stocks over the past few weeks.

Click here to visit the ETF Hub

Copyright The Financial Times Limited 2022. All rights reserved.
Reuse this content (opens in new window) CommentsJump to comments section

Follow the topics in this article