There are some areas of the market that are starting to show signs of life. Exchange traded funds (ETFs) can help get you the broad foreign exposure that you may crave without the risk of a single stock.

Gary Gordon for ETF Expert notes that the S&P 500 turned positive for 2009, gaining nearly 35% off of the March lows. Meanwhile, emerging markets are surging just a bit ahead,  up 47%, with no more than a two-day setback here and there.

The foreign areas are beginning to take off, so here are a few observations:

• Foreign stocks are cheaper than U.S. stocks. Many of the small-cap stocks or ETFs are trading at book value
• Foreign stocks are paying higher dividends. A dividend is always a bit of reward for wading back into the market.

By all measures of value, foreign stocks are in favor more so than domestic. Globally, the growth prospects for Brazil, China and the Asia-Pacific region appear to be optimistic.

Each investor is different – watch the trends and think about what’s right for you – there are many areas starting to move above their 200-day-moving averages or getting very close.

• iShares MSCI Emerging Markets (EEM): up 22.4% year-to-date

• SPDR S&P Emerging Market Small Cap Fund (EWX): up 31.8% year-to-date

Tags: Asset Class ETFs, EWX, Global ETFs, GWX, S&P 500, Small-Cap