Continuing to play on the popularity of regional investments, iShares is expanding its line of MSCI-tracking products with the addition of four new country-specific offerings. The funds target popular investment destinations, including Poland, China, Indonesia, and New Zealand.

The four new funds are as follows:

1. iShares MSCI China Small-Cap Index Fund

2. iShares MSCI Poland Investable Market Index Fund

3. iShares MSCI Indonesia Investable Market Index Fund

4. iShares MSCI New Zealand Investable Market Index Fund

The iShares China Small-Cap Index Fund will invest in the bottom 14% of stocks by market cap, according to an SEC filing, and the ETF will include more than 200 stocks in a number of industries. The iShares MSCI Poland Investable Market Index Fund will track a benchmark of 63 stocks in the top level of market capitalization.

The two new Indonesia and New Zealand funds will invest in the largest stocks by market cap in each respective country, with the Indonesia fund including 41 stocks, followed by 22 for New Zealand. The iShares MSCI New Zealand Investable Market Index Fund will be the first country-specific fund with a focus on New Zealand based equities. No tickers or annual fees have been announced.

WisdomTree has filed with the SEC to create two new funds that track the change of the American dollar against a basket of world currencies. The new funds will compete with PowerShares US DB Dollar ETF (UUP: Quote, Profile, Advanced Chart, News), which has attracted more than $3 billion from investors.

The WisdomTree Rising Dollar Fund, one of the new funds, will seek to provide performance equivalent to the change in the value of the US dollar against 15 other world currencies. The fund will invest in Treasury bonds, as well as money markets and currency contracts, to derive returns for its investors.

WisdomTree Commodity Currency Fund will seek out currency investments in countries with strong commodity producing industries. The fund is centered on the relative value of the currencies represented by the following countries: Australia, Brazil, Canada, Chile, Indonesia, Mexico, New Zealand, Norway, Russia and South Africa, according to the SEC filing.

Capitalizing upon the current popularity of emerging ETFs, Emerging Global Advisors has launched its second exchange-traded fund of 2009. The new fund, named Emerging Global Shares Dow Jones Emerging Markets Titans Composite Index Fund (EEG: Quote, Profile, Advanced Chart, News), seeks to track the Dow Jones Titan Index, but with several amendments to the original index.

According to a press release, the fund is weighted by country as follows:

China Offshore: 20.43%
Brazil: 20.29%
India: 18.15%
Russia: 14.24%
Mexico: 10.07%
South Africa: 8.30%
Chile: 2.74%
Malaysia: 1.85%
Indonesia: 1.53%
Kuwait: 1.04%

The new ETF will invest in 100 of the top stocks of the Dow Jones Emerging Market Titan Index. To protect against bubble investments, the fund will ensure that no sector has more than 10% of the vested interest of the fund. The fund is just one of 10 sector-based ETFs Emerging Global Advisors plans to launch in the near future.

The Emerging Global Shares Dow Jones Emerging Markets Titans Composite Index Fund will trade on the NYSE Arca with an annual expense of .75%.

As a victim of the 1990s Asian financial crisis, Indonesia has grown tremendously in less than the span of two decades. After getting its finances back in order, the country looks to outperform the rest of the emerging markets with its commodity rich economy.

Indonesia is surely primed for an explosion in stock market wealth. Since 1999, the country has cut its government debt load from a whopping 100% of GDP to 30% today, TheStreet.com reports. It also has the best performing stock market year-to-date, with a 72% gain in one of the exchange-traded funds which tracks the index: Market Vectors Indonesia ETF (IDX: Quote, Profile, Advanced Chart, News).

Investors looking for a fiscally sound emerging market play surely have an eye on Indonesia. The country’s massive coal exports and relatively stable government shine in comparison to other emerging markets. An upgrade by J.P. Morgan in May only solidifies Indonesia’s standing as an excellent investment amid numerous failing economies.

An active central bank in the United States is keeping interest rates so low that traders are now re-entering carry trade positions to profit from the difference in bid and ask interest rates at foreign banks. As rates continue to fall in the United States, carry trade investments in other foreign currencies will only grow more popular and profitable.

Bloomberg reports that between March 20 and April 10, investors could have snapped up an eight percent gain by investing Dollars, Euros and Yen in foreign currencies such as the Brazilian Real, Hungarian Forint, Indonesian Rupiah, South African Rand , New Zealand and Australian Dollars. The recent gain is the best three week growth recorded since 1999.

The carry trade has decreased prices for leading currencies as they are often sold to buy higher yielding currencies in foreign banks. The PowerShares Double US Dollar Index Bullish ETF (UUP: Quote, Profile, Advanced Chart, News) consolidated through March to fall to $25.40 on higher short interest on the US dollar.