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Putin’s Push Shorted in ETF Market as Cheap Get Cheaper

Short wagers on Russian stocks are soaring in the exchange-traded funds market after President Vladimir Putin’s incursion into Ukraine sparked the worst weekly selloff since May 2012.

Short bets on the Market Vectors Russia ETF rose 17 percent this week through March 6 to the highest in almost a year while total assets in U.S.-based exchange-traded funds investing in Russian equities increased 17 percent, according to data compiled by Bloomberg. The benchmark Micex Index dropped 7.3 percent in the week, the most since Putin cracked down on Moscow protests following his election in May 2012.