As I noted in Monday's "Five ETFs to Watch," the iShares MSCI Canada Index Fund ( EWC) has managed to perform relatively well compared to other non-U.S. developed market ETFs. With nearly one-third of the fund's portfolio set aside for financials, the performances of these banking heavyweights can play a notable role in determining whether or not EWC can hold onto this leadership position. It may not be the best time to dive headfirst into a fund like EWC. However, I encourage investors to keep Canada on the radar. With regions like the European Union swinging wildly from headline to headline, our northern neighbor appears to be standing out as the least-worst developed market option for internationally minded investors. Written by Don Dion in Williamstown, Mass.