The popular Vanguard FTSE Emerging Markets ETF (NYSEArca: VWO) and iShares MSCI Emerging Markets ETF (NYSEArca: EEM), the two largest broad emerging market ETFs, have increased 12.4% and 10.9% year-to-date, respectively, even after retreating 4.3% and 5.4% over the past three months, respectively.

Moreover, Turnill suggested taking a targeted approach to the emerging economies, such as focusing on India.

“We prefer countries where structural reforms show a willingness to sacrifice short-term economic pain for long-term gain, such as India’s move to eliminate high-denomination banknotes,” Turnill added.

To access India’s markets, investors can take a look at the iShares MSCI India ETF (BATS: INDA), PowerShares India Portfolio (NYSEArca: PIN) and WisdomTree India Earnings ETF (NYSE: EPI). Year-to-date, INDA dipped 2.1%, PIN rose 0.6% and EPI gained 2.3%.

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