Today’s chart of the day was shared on Twitter by David Keller (@DKellerCMT). It’s a chart comparing the performance of the S&P 500 ($SPY), Emerging Markets ($EEM), Developed Markets ($EFA) and Frontier Markets ($FM), since the end of April. As you can see Frontier Markets have significantly outperformed the rest of the pack. The Frontier Markets ETF, $FM is comprised of stocks from the riskiest and least economically developed countries in the world including Vietnam, Kuwait, and Argentina. The fact that investors prefer these countries over some of the more developed countries indicates risk appetite, which we think is positive for equities on a broader scale. For a deeper-dive into Frontier Markets check out our newest report.