ISHARES MSCI EMERGING MARKETS EASTERN EUROPE INDEX FUND $27.58 - New York symbol ESR

ISHARES MSCI EMERGING MARKETS EASTERN EUROPE INDEX FUND $27.58 (New York symbol ESR; buy or sell through brokers) has 73.6% of its assets invested in Russia, followed by Poland at 20.3%; Czech Republic, 3.0%; and Hungary, 2.4%.

The fund’s top holdings are Gazprom (Russia: gas utility), 17.3%; Sberbank (Russia: bank), 10.8%; Lukoil (Russia: oil), 10.2%; Magnit OJSC (Russia: retailing), 5.1%; and Novatek (Russia: natural gas), 3.9%. Its expense ratio is 0.67%.

The fund’s concentration in Russia, and in resources, adds risk. But the long-term outlook for commodities, including oil, is positive.

iShares MSCI Emerging Markets Eastern Europe is a buy for safety-conscious investors.

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