However, Australia is expected to have the third-fastest rate of economic growth among developed markets this year, which could force the RBA to consider rate hikes. That does not mean Australia ETFs will languish.

New Zealand and the U.K. are the developed markets where growth will outpace Australia this year an the Reserve Bank of New Zealand has already hiked rates twice in 2014 while the Bank of England is widely expected to follow suit in the coming months. The iShares MSCI United Kingdom ETF (NYSEArca: EWU) has traded higher this year while the iShares MSCI New Zealand Capped ETF (NYSEArca: ENZL) is higher by 13.4%. [Higher Rates Won’t Derail Australia ETFs]

There are other Australia ETF options to consider, including the new SPDR MSCI Australia Quality Mix ETF (NYSEArca: QAUS), which debuted earlier this month as part of a suite of six quality single-country funds from State Street, tracks the MSCI Australia Quality Mix A-Series Index and charges 0.3% per year.

QAUS holds 69 stocks with a combined 55% of its weight going to the financial services and matierals sectors.

iShares MSCI Australia ETF

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