Emerging markets ETF AVXC is one such fund; these three stocks help illustrate its healthy returns to start the year. AVXC, the Avantis Emerging Markets ex-China Equity ETF, charges a 33 basis point fee for its approach. Its rules-based, active emerging markets ETF strategy invests in ex-China equities with high profitability and value metrics. The emerging markets ETF weights investments by market cap and return potential. Which stocks, then, are driving the fund’s strong start?