The consistency of economic strength is still being determined among investors of BRIC (Brazil, Russia, India, China) exchange traded funds (ETFs).

Pierre Daillie for Seeking Alpha says that at best, the general sentiment surrounding emerging markets has remained skeptical, and this is why the market has been absorbing the BRIC investment story with a grain of salt. Is their credit worthiness being overlooked?

Right now, emerging markets have a current account surplus of $700 billion, and longer term surpluses of $3 trillion are found on balance sheets of BRIC countries in the form of Foreign Exchange and trade surpluses.

BRIC countries have been financing the debt and driving the growth of the G7 countries for the last 5-7 years. This makes their relationship a symbiotic one.

Furthermore, the idea of emerging markets being highly correlated to U.S. markets has been overplayed, Daillie says. The correlation is there, but it is low, at .30-.40. Emerging markets will sustain, and some of their current growth and inflationary pressures may benefit from a U.S. slowdown.

The four of these are "total" emerging markets funds that give broad-based exposure to any portfolio:

• iShares MSCI Emerging Markets (EEM)
• PowerShares FTSE/RAFI  Emerging Markets Portfolio (PXH)
• SPDR S&P Emerging Markets (GMM)
• Vanguard Emerging Markets (VWO)

Tags: Asia, Brazil, China, Eastern Europe, Emerging Markets, India, Latin America, Russia