As U.S. stocks have struggled to find solid ground in August amid geopolitical turmoil with North Korea and devastation following Hurricane Harvey, emerging market stocks continue to rise.

August was the eighth-straight month of gains for emerging market stocks. The iShares MSCI Emerging Markets ETF (EEM - Get Report) has risen sharply since the start of this year, up nearly 30%. The S&P 500 Index has gained 9.7%.

The emerging markets ETF hit a 52-week high last Friday, likely because political uncertainty in the U.S. and a subdued dollar have made emerging markets, which have broadly improved their economic growth prospects this year, more appealing.

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