Is It Time For A Colombia ETF?

Emerging market and country-specific ETFs overall have been performing well. One superstar emerging market ETF is the SPDR S&P Emerging Latin America (GML), which is up 20.4% since its inception in March. Colombia is the sixth largest-weighted country in GML at 1.4%. Brazil is the largest with a weighting of 56.7%.

Inflation in Colombia has been below 6% for the last three years, and it is the fifth largest destination of foreign direct investment in Latin America, according to Fred Fuld of Stockerblog. Colombia also has a plethora of stocks, such as Colombia Goldfields Limited (CGDF.OB), Bancolombia (CIB) and Corporacion Financiera del Valle (CRPFY.PK). Colombia produces almost twice as much oil as it consumes.

With a strong economy and its rating as the second happiest country in the world, according to the Happy Planet Index, isn't it time Colombia broke off and started its solo ETF career?

GML 4-month chart: