FTSE Russell will delete Russia from its equity indexes and MSCI Inc. will no longer include the country as part of their emerging markets indexes as of March 7 and March 9, respectively. MSCI said that market participants such as asset owners, asset managers, broker dealers and exchanges concurred that Russia's equity market is currently "uninvestable."
As of Feb. 28, Russia comprised 1.7% of the FTSE Emerging index. China, Taiwan and India are the three largest country weightings in the FTSE Emerging index, combining for over two-thirds of its components.
While Russia's weighting wasn't available for the MSCI Emerging Markets index, it was 1.5% of the iShares MSCI Emerging Markets ETF. China, Taiwan, South Korea and India have the exchange-traded fund's biggest weightings.