Country allocations include Kuwait 26.6%, Qatar 19.8%, UAE 14.2%, Nigeria 11.6%, Pakistan 4.8%, Argentina 4.5%, Kenya 4.1%, Oman 3.8%, Kazakhstan 3.4% and Vietnam 1.8%.

The PowerShares MENA Frontier Countries Portfolio (NSYEArca: PMNA) tries to reflect the performance of the NASDAQ OMX Middle East North Africa Index, which tracks companies in MENA frontier market countries.

PMNA has a 0.70% expense ratio and is up 7.4% year-to-date.

The fund has 43 components, and the top holdings include Citadel Capital SAE 10.9%, Union Land Development 7.4% and National Bank of Kuwait 7.4%.

Top sectors include financials 74.4%, telecom services 13.6% and industrials 7.5%.

Country allocations include Kuwait 24.0%, UAE 17.2%, Egypt 16.5%, Qatar 14.9%, Bahrain 10.5%, Oman 9.4% and Jordan 7.4%.

For more information on pre-emerging economies, visit our frontier markets category.

Max Chen contributed to this article.