Related: MSCI to Add China A Shares in Emerging-Markets Index

Due to their more isolated nature, frontier markets can be more volatile, but the isolation offers a degree of resiliency in periods of increased global uncertainty, which may further help these economies dodge the storm from President Donald Trump’s protectionist policies in the U.S.

“However, the latest data also show trade growth picking up across most countries. Three-quarters of FM countries are currently seeing faster growth in exports or imports compared with a year ago. The pick-up in exports in Asian FMs, including Mongolia and Vietnam, is particularly pronounced. This is consistent with the pick-up in world trade recently highlighted in Fitch’s June 2017 Global Economic Outlook,” according to Fitch.

Argentina is FM’s largest country weight at over 19%. That country was close to earning the emerging markets upgrade in the recent MSCI market classification, but was rebuffed. Pakistan is moving to the emerging markets index. That country is currently about 5.8% of FM’s weight and will eventually not be part of the ETF.

Kuwait and Vietnam combine for over 29% of FM’s weight.