One drawback to building a portfolio using country funds is that so many of them have very large exposures to the financial sector. It is quite common for funds to have more than 40% in the sector which is OK for a fund but becomes too much for an entire portfolio. In addition to FXI mentioned above, both the iShares MSCI Australia Index Fund ( EWA) and the iShares MSCI Singapore Index Fund ( EWS) allocate 47% to the sector as just two examples. If this really was the worst global financial crisis in 80 years then it makes sense to expect there could be more news to come and, if so, then financial stocks would be likely candidates to get hit hard again. This makes funds like CHXF that have little to no exposure important tools. At the time of publication the author held no positions in any of the stocks mentioned.This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.