South Korea

EWY leads its segment in assets and liquidity and does an excellent job of providing unbiased exposure to the Korean equity market. The fund tracks a less-inclusive variant of our chosen benchmark that ignores most small- and micro-caps, but still reflects the market well. As in our benchmark and many peer funds, tech giant Samsung dominates the portfolio, to the extent that it frequently bumps up against regulator-imposed concentration limits. EWY is a long-established fund that's not as cheaply priced as some of its newer peers, but solid tracking and strong liquidity mean that all-in costs should be competitive. Overall, the fund is a very practical way of gaining exposure to the segment for investors of all stripes, earning it a spot on our Analyst Pick list.