Additionally, the current political crisis gripping Turkey could exacerbate volatility in Turkey. [Turkey ETF Leads EM Sell-Off on New Act in Political Drama]

The iShares MSCI Turkey ETF (NYSEArca: TUR) has declined over 25% since the corruption charges rocked Turkish equities in mid-December 2013. [Corruption Charges Ruffle Turkey ETF]

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

Max Chen contributed to this article.