FM allocates almost 40% of its combined weight to Argentina and Kuwait, two countries that could gain emerging markets status in the next year.

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The frontier markets are characterized by high volatility and are more illiquid than more developed markets. Investors may also contend with political instability and other risks.

However, these frontier countries have large and growing populations that could translate to huge growth potential. These economies could become the Brazil, Russia, India and China of tomorrow.

Investors have added $19.1 million to FM this year.

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