Funds in this space, such as the ultra-popular VWO and EEM , have been lagging the U.S. market for much of 2013, but have finally turned it around the past few weeks. So with the rupee finally bottoming out (at least for now), and inflation seemingly under control, many investors have decided to take another look at India ETFs for an investment. This has crushed the broad market over the same time frame and many other emerging market indexes as well; EEM and VWO have produced returns of roughly 5.5% in the same time frame.