Additionally, there is the regional frontier ETF Market Vectors Africa (NYSEArca: AFK) and the recently launched single-country ETF Market Vectors Poland (NYSEArca: PLND). (Poland’s growing economy targeted with new ETF). Van Eck is also planning new country-specific ETFs for Egypt and Kuwait.

For frontier markets, the same principles of investing in emerging markets apply: the broader your fund is, the lower your risk. Potential investors should note that frontier markets are considered riskier than developed markets and the multi-country and single-country funds can suffer from low liquidity and high volatility.

Have a strategy for entry and exit in place before you invest to best protect yourself. More information on trend following can be found in The ETF Trend Following Playbook.

For more information on frontier markets, visit our frontier markets category.

Max Chen contributed to this article.