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.'

More from Emerging Markets

U.S. Considers New Tariffs on Imported Vehicles

U.S. Considers New Tariffs on Imported Vehicles

Video: Here's How Global Stocks Can Boost Your Portfolio

Video: Here's How Global Stocks Can Boost Your Portfolio

Wall Street Looks To Extends Gains After Goldman Earnings Beat, China Data

Wall Street Looks To Extends Gains After Goldman Earnings Beat, China Data

China's President Xi Jinping Tells Boao Forum He Supports Opening Markets

China's President Xi Jinping Tells Boao Forum He Supports Opening Markets

U.S. Stock Futures Steady; Asia Stocks Mostly Lower

U.S. Stock Futures Steady; Asia Stocks Mostly Lower