Some market observers are concerned that Argentina’s economy could be pinched as the new president implements tough measures, such as cuts to the budget and devaluation of the peso, that could further weigh on consumers. Oxford Economics projects gross domestic product could contract over the next two years before returning to growth of more than 5% by 2019.

“The global search for yield means that we expect frontier market (FM) bonds and equities to do well in the next few months. That being said, some FM bond markets seem to be fully valued and there is the chance of currency depreciation. While FM equities have outperformed their emerging market (EM) counterparts since 2013, they trade at a discount to EMs on a forward P/E basis … conditions are increasingly supportive for frontier debt and equity markets, though fairly strong real-effective exchange rates pose a risk,” according to a note by Strategy-Pavillion Global Markets posted by Dimitra DeFotis of Barron’s.

Related: Brazil ETFs Roar Back as Government Incompetence Ends

Oil prices also loom large for FM as OPEC members Kuwait and Nigeria combine for over 29% of the ETF’s geographic weight.

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iShares MSCI Frontier 100 ETF