Commodities cannot bear all of the blame in 2014 because the iShares MSCI All Peru Capped ETF (NYSEArca: EPU), another example of a trash to treasure trade, is getting a lift from rising from precious metals prices after being the worst LatAm single-country ETF last year.

The first few weeks of 2014 have not been a total wash for investors with a thirst for exotic global markets. The iShares MSCI Frontier 100 ETF (NYSEArca: FM) has maintained its dominance over comparable emerging markets funds while the Market Vectors Vietnam ETF (NYSEArca: VNM) is higher by 14.2%.

10 Worst ETFs in 2014


Chart Courtesy: ETF Replay

Tom Lydon’s clients own shares of EEM.