In this profile we review this large region but where there exist only 10 suitable ETFs to feature. Some parts of the region would be in the Pioneer category meaning they're truly in their infancy for investors. Others are quite mature and have existed for quite some time with high AUM (Assets under Management) investor interest and acceptance. Demographics play a key role and in that regard selections in this diverse region are extremely varied. Russia is beginning to struggle with an aging population while the MENA (Middle East & Africa) sectors have a more youthful and developing consumer market. Russian and South African markets are rich in natural resources making for volatility along with the price action in commodity markets. South Africa has both a high level natural resources and excellent demographics meaning a rising consumer base.During 2011 the MENA region has been swept up in the Arab Spring as long ruling dictators have been thrown out and new regimes will take their place. It is uncertain how these developments will affect what markets exist in affected countries like Egypt and so forth. We rank the top 10 ETF by our proprietary stars system as outlined below. But given the diversity of this sector making these choices becomes a greater challenge. Strong established linked index Excellent consistent performance and index tracking Low fee structure Strong portfolio suitability Excellent liquidity Established linked index even if "enhanced" Good performance or more volatile if "enhanced" index Average to higher fee structure Good portfolio suitability or more active management if "enhanced" index Decent liquidity Enhanced or seasoned index Less consistent performance and more volatile Fees higher than average Portfolio suitability would need more active trading Average to below average liquidity Index is new Issue is new and needs seasoning Fees are high Portfolio suitability also needs seasoning Liquidity below averageWe feature a technical view of conditions from monthly chart views. Simplistically, we recommend longer-term investors stay on the right side of the 12 month simple moving average. When prices are above the moving average, stay long, and when below remain in cash or short. Some more interested in a fundamental approach may not care so much about technical issues preferring instead to buy when prices are perceived as low and sell for other reasons when high; but, this is not our approach. Premium members to the ETF Digest receive added signals when markets become extended such as DeMark triggers to exit overbought/oversold conditions.