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The latest Trading the Globe special on CNBC took an in-depth look at Argentina, a market with many of the components that make Brazil a world-class emerging economy. Argentina is out of the wilderness: For nearly a decade since the 1998 bond market rout, Argentina has been isolated from international capital markets after declaring the largest sovereign debt default in history. But now the country is re-emerging as a regional and global player to watch. Economic momentum is solid: Is Argentina the next big emerging market to follow in the Brazil mold? Is it too late to climb aboard? Either way, with Argentina on track to post a strong fiscal trade surplus and growth this year, the economic momentum should carry through 2011. Sector-by-sector: how to crack the Argentine market: Without an Argentina-specific ETF available to U.S. retail investors, it might be worth looking at individual stocks trading on the New York Stock Exchange as ADRs. But which sectors are represented here? Two ETFs for Argentina: While there is no pure ETF play for Argentina, there are at least two that offer exposure to Argentina along with various blends of stocks from Brazil, Chile, China and other countries: PIE and ILF. While there is no pure ETF play for Argentina, there are at least two that offer various blends of stocks from Argentina, Brazil, Chile, China and others: PIE and ILF. The iShares S&P Latin America 40 Index Fund (ILF,) reflects results that correspond closely to the performance, before fees and expenses, of the S&P Latin America 40 index. The fund typically invests at least 90% of assets in securities of the underlying index and in depositary receipts representing securities of the underlying index. The underlying index is comprised of selected equities trading on the exchanges of five Latin American countries. The ETF includes highly-liquid securities from major economic sectors of the Mexican and South American equity markets. The fund is non-diversified. The PowerShares DWA Emerging Markets Technical Leaders fund (PIE) generally reflects price and yield performance of the index called the Dorsey Wright Emerging Markets Technical Leaders index. The fund typically invests at least 90% of total assets in the stocks that comprise the underlying indexes, ADRs and GDRs based on the stocks in the underlying index. It invests at least 80% of total assets in securities of emerging economies within Dorsey Wright & Associates' classification definition, excluding companies listed on a U.S. stock exchange. The fund is non-diversified and options are not available for this security.

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