4. iShares MSCI Turkey Index ETF
Ticker: TUR
YTD Return: 30%
Market cap: $460 million
Expense ratio: 0.59%

It's just across the sea from Greece, which of course has been at the center of Europe's debt crisis, but Turkey's economy is in much better shape than its debt-laden neighbor.

In fact, Turkey's debt is less than 40% of its annual gross domestic product, while Greece's debt-to-GDP ratio is approaching an ugly 170%.

While Turkey's rapid economic growth over the past few years has pushed inflation higher, experts are encouraged by the steps the Turkish government has taken to reign it in toward a manageable level.

Mobile phone operator Turkcell (TKC), the only Turkish company listed on the New York Stock Exchange, is one of the largest holdings in the ETF.

All data from global ETF research firm XTF as of market's close on July 6, 2012.
By Hibah Yousuf @CNNMoneyInvest - Last updated July 17 2012: 9:17 PM ET
Join the Conversation
Fear & Greed
Sponsored by