Investing overseas can be complicated, but ETF funds in emerging markets take out a lot of the guesswork. Investors can play regions or sectors where there’s the most potential without the headache of buying stocks on foreign exchanges and with the diversification of broad exchange traded funds instead of individual companies.

Some of the hottest regions in Asia right now are Indonesia, Malaysia and Singapore – and that means three of the hottest ETF funds to buy right now focus on these countries. Here are the details on these exchange traded funds:

Market Vectors Indonesia Index ETF (IDX)

Varied sources of growth, along with Indonesia’s potential for immediate profit performance, are what brought me to the Market Vectors Indonesia Index ETF (NYSE: IDX).

Yet despite the fact that IDX has been on my radar for a while, it wasn’t until this exchange-traded fund recently broke out to new 52-week highs that I become convinced that the right time to buy was now.

So, what do you get when you own IDX? Well, this ETF seeks investment results that correspond to the performance of the Indonesia equity market. Basically, with IDX you get the best companies in Indonesia, and you get them in one basket that’s denominated in U.S. dollars and that trades on the New York Stock Exchange.

One thing I really like about IDX is its sector breakdown. As of last quarter, the ETF had a 25.4% exposure to financials, a 15.7% exposure to materials, a 12.5% exposure to the consumer sector and another 12.5% exposure to the energy space. This breakdown in the sectors takes full advantage of the aforementioned strength of the country’s economy, natural resources and growing personal income.

iShares MSCI Malaysia Index (EWM)

Malaysia is Southeast Asia’s second-wealthiest country with a per capita gross domestic product (GDP) of $8,209. The country’s economy is expected to grow at a strong pace of 5.6% in 2010 and 5.8% in 2011, and the smart money has certainly embraced these metrics so far this year.

In fact, iShares MSCI Malaysia Index (NYSE: EWM) has jumped +19% year to date, making it one of the top performing country-specific ETFs so far in 2010.

Interestingly, Malaysia has developed into the world’s largest Islamic banking and financial center, and as such EWM’s biggest sector exposure is in financials (31.22%). However, the ETF also offers exposure to industrials (18.49%), consumer staples (13.47%) and many other prominent sectors. And though the country is predominantly Muslim, it’s definitely the most tolerant Muslim country in terms of allowing Chinese and other foreign companies to do business in the commodity-rich nation.

iShares MSCI Singapore Index Fund (EWS)

Singapore’s gross domestic product for the April through June quarter rose a whopping +19.3% year-on-year, according Singapore’s Trade and Industry Ministry. The growth was the fastest since the government began releasing quarterly GDP figures in 1975.

The Ministry also raised its forecast for the city-state’s economic growth this year to a range of between 13% and 15%, a sharp increase from the previous forecast of +7% to +9% growth. In addition, export growth expectations have been increased, due to global demand staying strong and despite Europe’s fiscal woes.

The Singapore data, along with China’s export data, confirms my expectation that fears over a eurozone meltdown dramatically hurting Asia are largely overblown.

Along with the growth in Singapore’s GDP, we saw a sizable +45.5% year-on-year growth in manufacturing in the April-June quarter. Construction also grew nicely, +13.5%, while services expanded +11.4%. I expect to see continued growth in Singapore in the back half of 2010, and that means continued upside for position in the iShares MSCI Singapore Index Fund (NYSE: EWS).

As of this writing, Robert Hsu was recommending all three of these ETFs in his Asia Edge newsletter.

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