A good example is the iShares MSCI Canada (NYSEArca: EWC) which allocates about one-fifth of the portfolio to energy. Canada is the world’s  sixth largest crude oil producer. The uptick in oil prices stimulates all areas of the economy, such as production, investment, employment and eventually, consumer spending. [Canada ETF: Developed Market, Commodity Exposure]

Global X FTSE Columbia 20 ETF (NYSEArca: GXG) taps into the fourth largest oil producing nation in the world. Columbia is currently in a huge oil boom, as crude production has doubled since 2006. Critical reforms in the oil sector has created the ability for oil producers to gain. GXG allocates about 22% of the portfolio to the energy sector. [Four Country ETFs Bucking the Downtrend]

An interesting European play on the oil rally is the iShares MSCI UK Index Fund (NYSEArca: EWU). Oil is the main source of energy use in the country, filling about 38% of the United Kingdom’s needs. EWU allocates about 17% of the portfolio to energy, with BP Plc and Royal Dutch Shell in the top holdings. [Single Country ETFs That Offer Yield]

Tisha Guerrero contributed to this article.