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The db x-trackers MSCI EM Asia TRN Index UCITS ETF provides exposure to many of the largest and most liquid stocks within the emerging markets of Asia, particularly China, South Korea, Taiwan, India, and Malaysia. These countries have seen their importance on the global stage rise dramatically in recent years. The Chinese economy now ranks third in the world, behind only Europe and the United States. Returns from the underlying index have been quite volatile, exhibiting annualised standard deviation of 20.7% since 2001, versus 15.6% and 16.4%, respectively, for the S&P 500 and the MSCI Europe. But they have been less erratic than the benchmarks tracking the individual countries that make up the biggest parts of the index. During the same period, it has shown a correlation to the local currency returns of the S&P 500 and the MSCI Europe Index of 75% and 77%, respectively. The fund does not make regular distributions, so it may not suit an investor looking for income.