“The investment thesis for this fund is a logical one: Emerging-markets consumers increasingly are reaching middle-class status and have more disposable income to spend on items from cars and electronics to packaged foods and beverages,” Oey added. “Other growth drivers include the rise of consumer credit, urbanization, and relatively young populations in a number of emerging markets.”

Along with ECON, investors can also take a look at the iShares MSCI Emerging Markets Consumer Discretionary ETF (NYSEArca: EMDI), which includes a large 30% tilt toward South Korean auto and consumer electronics, and the WisdomTree Emerging Markets Consumer Growth Fund (NasdaqGS: EMCG), which includes a 60% exposure to consumer firms and 40% to consumer spending.

EGShares Emerging Markets Consumer ETF

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

Max Chen contributed to this article.