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International Markets

Emerging Markets and Exchanges

There are a burgeoning number of ETFs covering foreign markets; however many of these contain large or medium sized companies. WisdomTree Investments Inc. claims they have the first truly “emerging-market small-cap ETF”, the DGS. Wisdom tree also offers the International SmallCap Dividend Index Fund, the DLS. However it is not clear exactly how small the companies in these funds really are.

Starting around the year 2000 a number of countries instituted new, emerging-company markets, often as part of an existing exchange. When the Internet bubble burst many of these were discontinued or absorbed into a larger exchange. Now these new markets are growing again, though in many cases progress is still rocky. At the right, see three Emerging Markets ETFs: iShares’ EEM, Vanguard’s VWO, and Templeton’s EMF. These ETFs vary in the countries and companies they cover.

Grant Thornton Inc. (GTI) has become a chronicler of the new emerging market exchanges. Check out their most recent “New Markets Guide”.

We have found links to most of the markets covered by the Guide. Oddly, GTI does not cover the OTCBB or the The OTC Markets. They do not cover AMEX even though it offers an attractive choice for microcaps who wish to advance upward from OTCBB! However they do include NASDAQ on their emerging markets list! Our own new and growing list follows. Entries marked with an * are on the GTI list.