Market Vectors Vietnam ETF (NYSEArca: VNM)

Local Market YTD: 20.3%

ETF YTD: 4.6%

Comment: Vietnamese equities and VNM surged in the first quarter on news policymakers and bankers there were taking steps to liberalize the frontier market’s economy and deal with bad debt. However, it was botched attempts at a TARP-esque, government-run toxic debt entity, among other factors, that sent VNM to another summer swoon. [Vietnam ETF Could End 2013 the Way it Started]