“A key beneficiary of central-bank stimulus, exchange-traded funds are among the most-owned assets in the world today. The securities are bound to the fortunes of their underlying indexes and investors can do little to hedge against changing dynamics,” according to Bloomberg.

Related: How ETF Investors Can Capitalize on Rapid Growth in ETFs

VWO holds over 4,600 stocks. China accounts for over 29% of the ETF’s weight while Taiwan and India combine for almost 28%. Overall, 24 emerging economies are represented in the ETF.

Although emerging markets exchange traded funds are among this year’s most prolific asset gatherers in the U.S., some market observers argue that emerging markets equities are under-owned by big investors and that the asset class has more room to rally.

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

Tom Lydon’s clients own shares of VWO and EMB.