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Russia ETF Inflows Surge as Ukraine Tension Fades

The biggest U.S. exchange-traded fund that holds Russian shares surged the most in two years as inflows increased on signs President Vladimir Putin is seeking to ease tension with Ukraine.

The Market Vectors Russia ETF gained 11 percent in May, the first advance in five months and the steepest since January 2012. The Bloomberg Russia-US Equity Index of the most-traded Russian stocks in the U.S. rallied 9.3 percent last month, led by OAO Sberbank, eastern Europe’s largest lender, and Internet company Yandex NV. The gauges followed the Micex Index’s 9.7 percent May increase, the biggest since 2011.