Market Vectors Russia ETF to Change Indexes

The Market Vectors Russia ETF (NYSE: RSX), the largest ETF devoted exclusively to Russia, will will begin tracking a new index, the Market Vectors Russia Index, on or about March 16. The ETF currently tracks the the DAXglobal Russia+ Index, which is cap weighted.

The new index RSX will track reflects the performance of the largest, most liquid companies doing business in Russia. Since its inception on July 14, 2010, the total return performance of the Market Vectors Russia Index is almost identical to that of the index it is replacing (-6.62%% for MVRSX versus -6.82% for the DAXglobal Russia+ Index), Van Eck Global, parent company of Market Vectors said in a statement.

The new index can include American and global depository receipts of Russian companies, according to the statement.

Similar index methodology is employed by Market Vectors for the following ETFs: The Market Vectors Brazil Small-Cap ETF (NYSE: BRF), the Market Vectors Poland ETF (NYSE: PLND), the Market Vectors Colombia ETF (NYSE: COLX), the Market Vectors Indonesia ETF (NYSE: IDX) and the Market Vectors Vietnam ETF (NYSE: VNM).

With an expense ratio of 0.62%, RSX has over $1.6 billion in assets under management. The ETF's primary rivals are the iShares MSCI Russia Capped Index Fund (NYSE: ERUS) and the SPDR S&P Russia ETF (NYSE: RBL).