Helped by that Brazil exposure, EMDG gained 4.4% last month. No stock accounts for more than 3% of the ETF. EMDG’s underlying index, the FTSE Emerging All Cap ex Taiwan Diversified Capped Dividend Growth 50 Index, “measures the stock performance of 50 emerging market companies whose 5-year dividend payout growth is faster than the average dividend payout growth in the FTSE All Cap Emerging ex Taiwan Universe,” according to EGShares. The index yield is 3.73%.

Investors can dial down the volatility a bit with the SPDR S&P Emerging Markets Dividend ETF (NYSEArca: EDIV), an ETF with a 12.3% weight to Brazil. Taiwan, one of the least volatile emerging markets, is EDIV’s top country weight at 18.2%.

As is the case with so many emerging markets funds these days, EDIV can be viewed as inexpensive with a P/E ratio of just 10. The fund yields 5.1% and gained over 6% last month. [Emerging Markets ETF With a Dividend Tilt]

WisdomTree Emerging Markets Dividend Growth Fund

Tom Lydon’s clients own shares of EEM and ILF.