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.
A mixture of accounting moves and rosy assumptions appears to harpooned JPMorgan's huge trading loss.
