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I would go for the $EXCH one
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@user88b8e3cfdd1c4e20 India is in it, but also Brasil, Thailand,... So you have a better spread. Since you pointed out non distributing etfs, I guess that is more your thing. Also without China. I would like to start investing in an EM etf, but including all EM, and with a dividend. So I'm looking to invest in $VFEM or $IEEM or $LDME, but I'm not convinced yet, need to do more plowing through their prospectus and half-year reports to really decide. $HDEM used to be my first pick, but high dividend is maybe too good and bad for overall return.
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