ISHARES MSCI EMERGING MARKETS EASTERN EUROPE INDEX FUND $26.34 - New York Exchange symbol ESR

ISHARES MSCI EMERGING MARKETS EASTERN EUROPE INDEX FUND $26.34 (New York Exchange symbol ESR; buy or sell through brokers), is an ETF that aims to track the MSCI Emerging Markets Eastern Europe Index. The fund’s geographic breakdown is as follows: Russia, 73.7%; Poland, 14.2%; Czech Republic 5.7%; and Hungary, 4.9%. iShares MSCI Emerging Markets Eastern Europe Index Fund’s top holdings are Gazprom (Russia: gas utility), 19.9%; Lukoil (Russia: oil), 9.8%; Sberbank (Russia: bank), 8.8%; MMC Norilsk Nickel (Russia: mining), 4.7%; Mobile TeleSystems (Russia: wireless), 4.4%; Rosneft Oil (Russia: oil), 3.7%; Surgutneftegas (Russia: oil and gas), 3.2%; CEZ AS (Poland: utility), 2.9%; PKO Bank Polski SA (Poland: bank), 3.0%; and Tatnef (Russia: oil), 2.9%. The fund’s industry breakdown is as follows: Energy, 46.6%; Banks, 20.8%; Materials, 11.8%; Telecommunication Services, 8.9%; Utilities, 4.5%; Food & Staples Retailing, 2.4%; Pharmaceuticals, Biotechnology and Life Sciences, 1.3%; Food, Beverages and Tobacco, 1.0%; Software and Services, 0.6%; and Media, 0.5%. The ETF has an expense ratio of 0.72%. The fund’s concentration in Russia adds risk, but the outlook for oil and gas, as well as other resource prices, is positive. As well, central European stocks should improve as the global economy rebounds further. iShares MSCI Emerging Markets Eastern Europe Index Fund is a buy for aggressive investors.