Looking at emerging markets, Geraci points out the Freedom 100 Emerging Markets ETF (FRDM), which uses a "freedom-weighted" approach, meaning that it doesn't own any Russian, Chinese, or Saudi Arabian stocks. Hendrickson has also noted that the sudden interest in this fund has led to speculation on where people believe they're gaining the exposure they're looking for without dealing with extreme volatility. There are geopolitical concerns and thoughts on how the Fed will thread the needle between the tremendous economic growth seen and the significantly high levels of inflation that are far from transitory.