Alternatively, the Vanguard Total Stock Market ETF (NYSEArca: VTI) can provide investors with a broader global exposure, diversifying a portfolio with developed and emerging markets and including a mix of large companies with small weights toward developing countries in Africa, Asia and Latin America.

The volatility in the emerging markets may also be short-term in nature, and investor could let the swings run their course and just diminish his or her position to developing economies for now.

For more information on the developing economies, visit our emerging markets category.

Max Chen contributed to this article.