As measured by the S&P 500, U.S. stocks closed slightly higher Wednesday, but it was far from a legitimate “risk on” day. Wednesday’s silver lining playbook contains a few pages on emerging markets and international ETFs.

Chew on this: Of the 15 best non-leveraged ETFs on Wednesday, all were international funds. Six were single-country emerging markets ETFs and of those six, two were India ETFs. [Rupee ETF Rallies]

As we noted earlier this week, there were signs at least one Japan was poised to perk up. Not one, not two, but three ETFs tracking the world’s third-largest line the list of Wednesday’s best-performing ETFs. [EWJ’s Chart Looks Good]

Checkout the chart, courtesy of the ETF execution team at WallachBeth Capital.

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.