PIE Slices: How This Popular EM Looks for Q4

Taiwan, Mexico, and Turkey are all overweight by more than 3% while South Africa is the largest overweight country position at 13.65%, according to Dorsey Wright.

PIE’s lack of preference for any of the BRIC nations is noticeable. The ETF features no allocation to Russia and its weight to Brazil is just 2.4% compared to almost 11.6% in the MSCI Emerging Markets Index. Despite its increased weight to China, at 15.45%, PIE’s weight to the second largest economy in the world is 315 basis points below the MSCI Emerging Markets Index.

PIE’s weight to India is just 40% that of the MSIC Emerging Markets Index.