In Europe, a surge in manufacturing data and improving financials in peripheral Eurozone States have attracted investors. In Japan, Bank of Japan’s accommodative monetary policy will continue to support a recovery.

Some popular diversified Europe ETFs, such as the Vanguard FTSE Europe ETF (NYSEArca: VGK) and the iShares Europe ETF (NYSEArca: IEV) feature large combined allocations to the U.K. and Switzerland. The SPDR EURO STOXX 50 Fund (NYSEArca: FEZ) excludes the U.K. and Switzerland in favor of a heavy tilt toward France, Germany, Italy and Spain.

Investors looking for a hedge against declines in European currencies can consider the WisdomTree Europe Hedged Equity Fund (NYSEArca: HEDJ) and db X-Trackers MSCI Europe Hedged Equity Fund (NYSEArca: DBEU).

The iShares MSCI Japan ETF (NYSEArca: EWJ) provides exposure to Japanese equities, but the investment is a a non-currency hedged ETF, which means a depreciating yen will negatively affect the fund. Alternatively, the WisdomTree Japan Hedged Equity Fund (NYSEArca: DXJ) and db X-trackers MSCI Japan Hedged Equity Fund (NYSEArca: DBJP) both hedge against a weaker yen currency. [WisdomTree: Abe declares 2014 Year of Japanese “Wage Surprise”]

For more information on global markets, visit our global ETFs category.

Max Chen contributed to this article.

For full disclosure, Tom Lydon’s clients own shares of DXJ.