Emerging Stocks an Even Better Bargain After Best Rally in Years

Emerging-market stocks are rallying three times as fast as US equities this year, and their lead may widen further if relative share valuations are any guide.

MSCI’s Emerging Markets Index has climbed 16% since the start of 2026, versus a gain of almost 5% for the S&P 500 Index. The gauge has outperformed the US benchmark for five straight quarters, and April’s rebound is putting it on track for a sixth.