Emerging market exchange traded funds have diverged sharply this year, with vehicles focused on big commodity exporters dodging the storm that has hit the broader asset class.
The war in Ukraine, a surging US dollar and chaos in Sri Lanka has dealt a powerful blow to developing economies in 2022. But some countries avoided the broader slump because they are beneficiaries of the broader trends shaping global markets this year.
“The strong dollar does tend to be negative for emerging markets but with over 20 countries to choose from there will always be relative winners,” said Charlie Robertson, global chief economist at Renaissance Capital, an investment bank that specialises in emerging markets.
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