Inflows to broader emerging markets funds and single-country ETFs like TUR are coming in as emerging market stocks rallied on an advance from January past 20%, with the MSCI Emerging Markets Index on the threshold of a bull market. EEM has surged 23.3% since its January 20 lows and broke back above its long-term, 200-day simple moving average.

“While Turkish equities advanced for a fifth week in the longest run since April 2014, stocks traded at a 23 percent discount to emerging-market peers and valuations trail their five-year average. That’s helped underpin the rally that’s seen overseas investors buy a net $548 million the country’s stocks this month through March 11, central bank show,” according to Bloomberg.

iShares MSCI Turkey ETF