Tellimer EM Country Index ranks Emerging Markets and US

Weighted score across for over 50 countries using about 30 individual factors spanning:
- Macroeconomic outlook: near-term growth, policy credibility, currency risk, structural growth;
- Political risk: legislative mandate, inequality, youth unemployment;
- Geopolitical risk: sanctions;
- ESG: governance, climate change exposure, pollution; and
- Equities: valuation, liquidity.

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The Tellimer EM Country Index standardises about 30 data sets, imputing data where it is missing using nearest comparables, and attributing a weighted average score for each country across each data point in order to determine that country's score.

The data sets vary between those which change infrequently, eg governance scores are updated annually, and those which change frequently, eg equity market valuation changes daily.

The US is included as a reference because for many asset allocators, EM equities, in general, are considered an alternative to investment in US equities.

A large part of the high scores for China and the US is due to their order of magnitude deeper equity market liquidity (daily value traded) than the rest. If China and the US were only as liquid as Taiwan then their "Fundamentals and Equity factors" scores would drop to 67 and 17, respectively.