Two regionally focused ETFs are the MSCI BRIC Index Fund and the MSCI Brazil Index Fund.

FORBES: Intelligent Investing Panel

As measured by the equity markets, Russia is the second best performing BRIC, but is still underperforming the MSCI Emerging Markets Index.

FORBES: Russian GDP Beats Brazil's Even As Investment Slips

The finance sector heavy iShares FTSE China (FXI) is down 11.5% year-to-date, the worst of the big BRIC exchange traded funds and underperforming the MSCI Emerging Markets index by wide margins.

FORBES: Market Still Ignores China's Relatively Positive Economy