BlackRock is currently overweight India, arguing that while the market is not cheap, it is not expensive either, with valuations hovering near historical levels.

“A combination of economic improvement, potentially stronger earnings and progress on reform makes us favorable to the country,” BlackRock said.

Investors can access these areas through targeted ETF options. For instance, the WisdomTree India Earnings Fund (NYSEArca: EPI), PowerShares India Portfolio (NYSEArca: PIN) and iShares India 50 ETF (NasdaqGM: INDY) provide broad India exposure.

ETF investors can also look at ASEAN or emerging Southeast Asia options through the Global X FTSE ASEAN 40 ETF (NYSEArca: ASEA). ASEA leans toward southeast Asian economies, including Singapore 32.1%, Malaysia 25.5%, Indonesia 19.8%, Thailand 14.7% and Philippines 7.9%.

SEE MORE: EPHE: Philippines ETF Up 19% Year-to-Date

Among the notable stand outs in the Southeast Asia, the iShares MSCI Philippines ETF (NYSEArca: EPHE) is higher by nearly 19% year-to-date, giving it a decent advantage over the MSCI Emerging Markets Index, but EPHE has been somewhat overlooked this year compared to other high-flying emerging markets single-country exchange traded funds.

For more information on the developing economies, visit our emerging markets category.

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