The iShares MSCI Russia ETF, with about $105 million in assets, has about 95% of its portfolio invested in that country's equities. This is followed by VanEck Russia ETF's 87% exposure. This ETF has $692 million of assets. However, trading in these two ETFs has been suspended.
Most of the other ETFs with exposure to Russian equities have lost between 10% and 18% since the start of the year. Funds with strong investments in the energy sector have produced outsized gains this year despite having 3.7% to 3.9% of their assets invested in Russian equities. The iShares U.S. Oil Equipment & Services, VanEck Oil Services and the SPDR S&P Oil & Gas Equipment & Services ETFs, have returned between 49% and 61% during this period.