For investors who want to stay broadly diversified but wish to "take the bite out of swings in EM equities," they suggest iShares Edge MSCI Minimum Volatility Emerging Markets (EEMV). After Nov. 8, shares of VWO and its largest EM rivals, including iShares MSCI Emerging Markets ( EEM ), sliced below key short- and long-term levels of support. "We see further upside given improvement in macroeconomic fundamentals, subdued inflation, reform momentum and stronger earnings," Heidi Richardson, head of investment strategy for U.S. iShares, wrote recently.