When it comes to getting your emerging market exposure through exchange traded funds (ETFs), many go for the obvious plays. But there are other ways to get this exposure that you may not have thought of.

The fourth- and fifth-largest ETFs by assets now are broad emerging markets funds: iShares Emerging Markets ETF (NYSEArca: EEM) and Vanguard Emerging Markets (NYSEArca: VWO). Granted, these two ETFs have made it a snap to get emerging market exposure, so it’s no wonder they’re so popular with investors. But there are other ways to get emerging market exposure that may help you do even better in the long run, says Carl Delfeld for ETFXray. [5 Reasons to Like Colombia ETF.]

  • Look beyond equities. Delfeld suggests emerging market currencies, bonds, cash and perhaps even an inverse ETF. Some ideas: WisdomTree Dreyfus Indian Rupee (NYSEArca: ICN), PowerShares Emerging Markets Sovereign Debt (NYSEArca: PCY) and Direxion Daily Emerging Markets Bull 3x (NYSEArca: EDC).
  • Weight emerging markets equally using a variety of single-country funds instead of going top-heavy in a few economies.
  • Look beyond the obvious. Everyone knows the BRIC countries and you’d be hard-pressed to find someone who isn’t gushing about Brazil or India. But there are others out there. iShares MSCI Turkey (NYSEArca: TUR) and Market Vectors Indonesia (NYSEArca: IDX) are two of the top-performing funds in recent months.
  • Wary of China? Exclude it. Many investors are skeptical of China and don’t fully trust its government. If you feel that way, there are plenty of other ETFs tracking fast-growing emerging economies to deploy your cash toward instead. [VWO vs. EEM.]

For more stories about emerging markets, visit our emerging markets category.

The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.