Market Vectors Vietnam (NYSEArca: VNM)
January Gain: 13.3%
Comment: It has been a brutal year for emerging markets. Fortunately for investors in VNM, Vietnam is classified as a frontier market. That explains part of the rally in VNM. The more significant angle here is that Vietnamese policymakers are working to lift previously restrictive foreign ownership limits on Vietnamese companies. Foreign investors have responded by upping their exposure to the country’s equities. [Vietnam ETF Could Rise on Bank Ownership Limit Increase]