The iShares Core MSCI Emerging Markets ETF ( NYSEARCA:IEMG) delivered a 34% return over the past year, crushing the S&P 500's 18% gain and drawing billions in fresh capital. But after such a run, is this still a buy, or have the easy gains been captured? With $117 billion in assets and a 0.09% expense ratio, IEMG tracks small, mid, and large-cap stocks across developing economies, with heavy concentration in China and Taiwan (nearly 48% combined), plus meaningful allocations to India, South Korea, Saudi Arabia, and Brazil.