Additionally, the slack performance turned in this year by Turkish stocks deals a blow to the notion that the country, a net oil importer, would benefit from slumping oil prices.

For the daring bargain hunter, Emerging Equity recommends TUR “as a satellite position within a global world or a global emerging markets or a more local EM strategy strategy. Investors should always check the allocation of the country within their underlying benchmark in order to play it on a tactical basis.”

iShares MSCI Turkey ETF