These funds have posted huge returns over the past year by focusing on companies in developing countries.

+ FUND WATCH: Don't Be Scared of Emerging-Markets Bonds

Countries with central banks reining in prices should be in good shape, but others could be headed for big trouble.

Short term, China will keep growing rapidly and boosting the global economy. Long term, the picture’s not so pretty.

+ SLIDE SHOW: 7 Reasons Not to Fear China

Despite the risks lurking in this part of the world, Latin America offers excellent prospects for investors.

+ PLUS: James Glassman's Emerging-Markets Picks

Check out the top-performing mutual funds that are heavily invested in diversified developing markets.

+ More Emerging Winners: Regional and Single-Country Funds

The managers of Wasatch Emerging Markets Small Cap fund find opportunities to benefit from the growing middle class abroad.

Consider these six stable U.S. and European companies that do a lot of business in developing countries.

Templeton Global Bond Fund gives investors exposure to up to 30 countries -- with good returns, too.

MSCI Barra will classify Israel as a developed market, which could give some stocks a boost.

Search among 3,000 stocks and compare them using 27 criteria to find the right ones for your portfolio.

Use our tool to choose the right fund for you based on type, performance criteria, and fee and management information.