Brazil and Russia are two of this year’s top-performing emerging markets, though Brazilian stocks have recently stumbled in the face of more political volatility. Russian stocks continue to impress with the VanEck Vectors Russia ETF (NYSEArca: RSX), the largest Russia exchange traded fund, recently showing signs of breaking out on a technical basis.

“While emerging market earnings have been in decline since 2011, economic growth appears to be stabilizing, and low yields in the U.S. and developed economies provide time for emerging-economy fundamentals to improve. We see balanced upside and downside risks in 2017,” according to the Wells Fargo note posted by Barron’s.

For more information on the ETF market, visit our ETF performance reports category.

Tom Lydon’s clients own shares of EEM.