A number of factors may continue to support the emerging market story ahead. For example, Dhillon pointed to cheap valuations in emerging market equities relative to historical prices and relative to the rally in U.S. stocks.

“Even after the appreciation this year, EM still makes a lot of sense,” Dhillon said.

Developing markets are still lagging behind the U.S. in the ongoing global recovery. As investors look to global markets in search of opportunities, they may find that emerging markets are still in their recovery phase.

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The emerging markets are also enjoying a boost from the currency effect as foreign exchange markets currently reflect a strengthening emerging currencies while the U.S. dollar has depreciated this year.

Furthermore, income-minded investors may find that international equities, especially emerging market companies, offer higher dividend payouts, but potential investors should keep in mind that these higher yields do come with greater risks. Nevertheless, something like CEY may help mitigate some of the risks by focusing on companies that exhibit lower levels of volatility.

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