Broad emerging markets exchange traded funds (ETFs) have eclipsed their 2010 highs with frontier markets such as Turkey and Thailand leading the way.

The $592 million iShares MSCI Turkey Investable Market Index Fund (NYSEArca: TUR) was up nearly 20% over the past month heading into Monday’s session. The Turkey ETF rallied 3% in afternoon dealings Monday and recently broke above its 200-day moving average. [Potential Opportunities in Emerging Market ETFs.]

Other single-country highflyers in the emerging markets category track India, Brazil and Thailand. The $600 million iShares MSCI Thailand Investable Market Index Fund (NYSEArca: THD) rose to a new 52-week high Monday as the ETF neared $70 a share.

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