These three broad emerging market ETFs may also look cheaper due to their alternative or smart-beta indexing methodologies that tilt toward value stocks.

Specifically, FNDE tracks the Russell Fundamental Emerging Markets large Company Index, which selects, ranks and weights components based on fundamental factors like adjusted sales, retained operating cash flow and dividends plus buybacks, as opposed to the traditional market capitalization-weighted methodology.

SDEM targets high dividend yielding equity securities in the emerging markets and equally weights the components.

FEMS tracks a group of small-cap emerging market stocks and selects components based on growth factors including 3-, 6- and 12-month price appreciation, sales to price and one year sales growth, along with book value to price, cash flow to price and return on assets.

Max Chen contributed to this article.

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