Europe is becoming the preferred overseas investment locale among millionaires. Not to be left out, the average retail investors can diversify with European equity exposure through exchange traded funds as well.

For example, the Deutsche X-trackers MSCI EMU Hedged Equity ETF (NYSEArca: DBEZ), iShares Currency Hedged MSCI EMU ETF (NYSEArca: HEZU) and WisdomTree Europe Hedged Equity Fund (NYSEArca: HEDJ), which track Eurozone equities and hedge against a weakening euro currency, have grown in assets. For instance, HEZU brought in net inflows of $31.6 million assets over the past month while HEDJ added $919.6 million assets, according to data. Deutsche Asset and Wealth Management recently added DBEZ to its lineup in December. [Another ETF Option for Profiting From the Euro’s Slide]

However, the Vanguard FTSE Europe ETF (NYSEArca: VGK), which is exposed to currency risks, has seen $410.8 million in outflows. The outflows from the non-hedged European equities fund suggest that investors are becoming more aware of the negative effects a quickly depreciating euro currency can have on euro-denominated investments, despite any gains in the Eurozone market.

According to a recent Spectrem Group survey of 1,465 people with investible assets of $1 million to $5 million, millionaires are putting more money into European securities, reports Robert Frank for CNBC. [2015 Could Be a Good Year for Europe ETFs]

Specifically, 19% of participants pointed to Europe as the place to invest this year, followed by China 15%, Canada 12%, the United Kingdom 9%, and Brazil, Australia, Japan and India tied at 8%. [Eurozone ETF to Capture Growth and Limit Currency Risk]

George Walper, president of Spectrem Group, argues that millionaires aren’t particularly bullish on the region but investors believe the region and its government is more stable and less involved in the economy than others, like China, Brazil and other emerging markets that have a more heavy-handed approach.