gaf has always seemed misrepresented by articles making it seem
frontier and mideastern/north african. But etfconnect it has always
shown as half south african and a quarter israeli. The latter is
developed and the former is a special case out of that sphere, and
overall not diversified at all.
According to the execellant etftrends.com there are many frontier etfs
about to be activated. One that is ready now and more middle east than
GAF is GULF. Although maybe now the oil or frontier trend is past it's
prime. Just look at US small caps or financials for signs of big
upside.
P.S. is the MOO run (ag's, fertilizer) dead or just at a pause?