The iShares MSCI Emerging Markets ETF ( EEM) is up 9% thus far in 2016, thoroughly outpacing the S&P 500's gain of 2.6%. Mark Hamilton, chief investment officer for the multi-asset group at OppenheimerFunds, is raising his exposure to emerging markets because he expects the outperformance to continue. 'You still have structural problems in China. You still have a long-term decline in the rate of growth there, but we are seeing a near term pick-up in growth there,' said Hamilton. 'Combine that with relative valuations being attractive in emerging markets and that leads to a pretty attractive combination.'