Traditional capitalization-weighted indices may overexpose investors to emerging market risks. For instance, the MSCI Emerging Markets Index includes a 24% tilt toward China, and over half of its country weights are concentrated in China, Korea and Taiwan. Additionally, financials, technology, energy and materials sectors account for 62% of the index.

Related: Sticking With Staples ETFs: Is it a Good Idea?

“But just as prospects in the major commodity exporters may be starting to improve (or at least look less bad), the outlook for consumers in other EMs is becoming less positive … Another constraint on spending, at least in parts of Emerging Asia, will be high levels of debt. Households in a number of countries, including Thailand, Singapore, Malaysia and Korea have ramped up their borrowing aggressively in recent years,” adds Capital Economics in the note posted by Barron’s.

Last month, it was revealed that Emerging Global Advisors, the exchange trade funds issuer behind the EGShares family of ETFs, will be acquired by Columbia Threadneedle Investments.

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EGShares Emerging Markets Consumer ETF