This is an interesting play. From a technical standpoint, we have completed a double bottom. The breakout point is at 36.41.
Soros, Druckenmiller, and Tudor all holding this ETF long. You can check it in the last 13f filing.
From a fundamental stand point, the streets view is that the recent rise of anti-globalization is no good for the emerging markets as it restricts global trade. In addition, Trumps fiscal polices may have the Fed hiking interest rates making US more attractive from a yield stand-point.