November performance and valuation of emerging markets

Blank indicates data not applicable (eg loss-making in case of missing PE, or absence of 5-year history in case of Small EM-FM Tech, transformative changes in index composition over the last 5 years (eg Kazakhstan), or not meaningful in case of very high PB or PE, eg in Lebanon, Zimbabwe). *Denotes local index, else MSCI. **Denotes customised index (weighted average of largest stocks in each category).
Chart: Hasnain Malik Source: Bloomberg (29 November 2021), Tellimer Research Get the data