Although still China and its slowing economic growth loom large for emerging markets ETFs, rebounding oil prices have boosted shares of Russian stocks while anti-corruption probes in Brazil have helped stocks in Latin America’s largest economy rally.

It appears some investors still need some convincing regarding the veracity of the emerging markets rally as EEM and VWO have, on a combined basis, lost nearly $2.6 billion in assets this year.

iShares MSCI Emerging Markets ETF

Tom Lydon’s clients own shares of EEM.