ERUS from iShares has a very respectable $248 million while the SPDR S&P Russia ETF ( RBL)languishes with just $34 million. A third fund would seem unlikely to get off the ground. And every large and medium-sized ETF provider already has a broad-based fund like EMDR. I believe it will be very difficult for these funds to find an audience. At the time of publication, Nusbaum had no positions in securities mentioned. Follow @randomroger This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.