India remains a standout among emerging markets this year. Among the various exchange traded funds tracking stocks in that country, the WisdomTree India Earnings ETF (NYSE: EPI) confirms as much.

The WisdomTree ETF, one of the elder statesmen of the India ETF group, is higher by more than 1% year-to-date, while the MSCI Emerging Markets Index is down more than 9%. EPI is also sharply outperforming comparable China ETFs, many of which are saddled with double-digit losses.

Some analysts believe that India’s equity market offers more upside, indicating that investors looking for tactical emerging markets exposure may want to consider EPI.

Analysts at Bernstein identified India stocks that they expect could surge 10% or more despite growing investor concerns over global markets,” reports Eustance Huang for CNBC. “In a recent note, the analysts picked stocks with an ‘outperform’ rating, meaning the firm sees them outpacing the market index by more than 15 percentage points.”

EPI is home to 431 stocks, providing investors with a broad-based approach to one of the largest developing economies. Bernstein analysts are bullish on several Indian stocks that are also EPI holdings. That includes Crompton Greaves Consumer Electricals.

“Crompton’s stock has seen a correction over the past few months led by concerns around the overall demand environment given an increase in product prices,” according to Bernstein. “However, we see growth resumption as the price hikes get digested. We also see a positive real estate cycle and a solid start to the summer as a critical driver in the near term.”

The research firm is also bullish on select Indian banks, which is relevant to investors considering EPI because the ETF allocates 23.11% of its weight to financial services names, making it its largest sector exposure.

“Among financials, Bernstein sees the highest potential returns for HDFC Bank, with a price target of 1,890 rupees per share (about $24.82), representing 27% upside from its Tuesday closing level,” according to CNBC.

That’s one of EPI’s marquee holdings. Bernstein is also constructive on Bandhan Bank, another EPI holding.

The research firm adds that it views Indian healthcare and technology stocks as superior defensive ideas relative to consumer staples and utilities names. The technology and healthcare sectors combine for over 17% of EPI’s roster. EPI allocates just 4% of its weight to consumer staples names.

For more news, information, and strategy, visit the Modern Alpha Channel.

The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.