Abstract
Facing the increasing level of fluctuations and risks in the financial markets, investors are increasingly shifting towards more conservative investment techniques. Exchange Traded Funds has emerged in recent years as an important alternative. This paper conducts the empirical studies on the performance of ETF across different emerging markets. We find that the performance of ETFs are inferior to the underlying indexes in general. Their performance are also sensitive to the ETF characteristics, among which geographical locations and economic development are identified as important influential factors.