The Federal Reserve increased its benchmark federal funds rate in the range of 1.75% to 2% in its June meeting, which weighed on emerging market ETFs. This is because higher rates in the United States along with a stronger dollar dulled the appeal of the broad-based emerging markets.Trade and TensionThe recent strengthening of the U.S. dollar has put emerging markets in a tight spot as they are unable to hold their currency valuations in global trade. Also, a higher-dollar induced domestic selloff in the bond markets by foreign investors has put most emerging markets under severe stress. As two more Fed rate hikes are expected, the emerging markets are expected to be under undue pressure this year (read: 7 Exciting ETFs Ways to Profit From Ongoing Trade Spat).Also, as per WTO reports, global trade growth will be slowing, even without the tariff impact in the second quarter of the year. China, the world’s largest consumer is looking for a clampdown in credit growth ($2.6 trillion as on May) which might affect global growth on account of lesser consumption and exports. Trump is looking to reduce the $375 billion trade deficit with China, and squeeze out concessions from Beijing. It is expected that by Jun 15, the United States will be releasing the list of products under the 25% tariff category.Along with trade issues, U.S.-North Korea tension is another stumbling block that is unsettling Asia. In the historic meet between Kim and Trump, an agreement was arrived at the complete denuclearization of the Korean peninsula. Iran, however has warned North Korea to not fall into the trap as they had bitter experience with Trump walking out of the JCPOA (Joint Comprehensive plan of Action) about the nuclear deal in May.As emerging markets are struggling on the economic and political front, let us look at some broad emerging market ETFs. Going forward, investors should keep a tab on these funds amid the hawkish Fed policies.Vanguard FTSE Emerging Markets ETF VWOThe fund tracks the performance of The FTSE Emerging Markets All Cap China A Inclusion Index. It has an expense ratio of 0.14% and an asset base of $65.9 billion. The fund consists of 4700 stocks. As for individual holdings, Tencent Holdings, Taiwan Semiconductor (TSM) and Alibaba group are the top three, with none holding more than 5%. Financials, Technology and Consumer Services are the top sector allocations, sharing 54%. The fund has an average daily trade volume of 13 million shares and a Zacks ETF Rank #3 with a Medium risk outlook.iShares Core MSCI Emerging Markets ETF IEMGThe fund tracks the results of MSCI Emerging Markets Investable Market Index. It has amassed assets of $888 million and an average daily trade volume of 11 million shares. The fund has 1925 holdings in its portfolio. Tencent Holdings, Alibaba Group and Samsung Electronics are the prominent stocks in this fund, with none holding more than 5%. Also Information Technology, Financials and Consumer Discretionary are the top sector exposures with a combined weight of 27%, 21.1% and 10.6%, respectively. China, South Korea and Taiwan are the top three country exposures, with each holding 31.2%, 15.5% and 12.5%, respectively. The fund has attracted assets of $7.96 billion this year. It has an expense ratio of 0.14% and a Zacks ETF Rank #3 with a Medium risk outlook (read: Best Sector ETFs of Last Week).iShares MSCI Emerging Markets ETF EEMThe fund tracks the performance of the MSCI Emerging Markets Index. Comprising 972 holdings, the fund has assets worth $38 billion in its portfolio. Tencent Holdings, Alibaba Group and Samsung Electronics are the prominent stocks in this fund with none holding more than 6%. Information Technology, Financials and Consumer Discretionary are the top industry allocations with weights of 28.4%, 22.7% and 9.9%, respectively. As for country exposure, China, South Korea and Taiwan comprise the top slots with weights of 33.8%, 15.1% and 11.7%, respectively. The fund charges an annual fee of 69 basis points and trades a massive volume of 68 million shares daily. The fund has a Zacks ETF Rank #3 with a Medium risk outlook (read: ETFs to Watch Out For This Eventful Week).Schwab Emerging Markets Equity ETF SCHEThe fund tracks the total returns of the FTSE Emerging Index. It has AUM of $5.2 billion and trades an average daily volume of 1.2 million shares. The fund has 926 stocks in its portfolio and charges an annual fee of 13 basis points. As for industry outlook, Financials, Information Technology and Consumer Discretionary are the top three with weights of 26.5%, 21.5% and 9.1%, respectively. Tencent Holdings, Alibaba Group and Taiwan Semiconductor are the top stocks with none controlling more than 7%. China, Taiwan and India are the top country exposures with more than 50% combined. The fund has Zacks ETF Rank #3 with a Medium risk outlook.Schwab Fundamental Emerging Markets Large Company Index ETF FNDEThe fund tracks the total returns of the Russell RAFI Emerging Markets Large Company Index andhas an expense ratio of 0.13%.It has 339 holdings in its basket and AUM of $2.2 billion.FNDEtrades an average daily volume of 276,700 shares. Samsung Electronics, Gazprom and China Construction Bank are the top stocks, with none holding more than 6%. Energy, Financials and Information Technology are the prominent sectors, with a combined holding of more than 60%. China, South Korea and Russia are the leading country exposures, having more than 50% of the allocation. The fund has a Zacks ETF Rank #3 with a Medium risk outlook.Want key ETF info delivered straight to your inbox?Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report ISHARS-EMG MKT (EEM): ETF Research Reports SCHWAB-F EM LCI (FNDE): ETF Research Reports SCHWAB-EMG MKT (SCHE): ETF Research Reports VANGD-FTSE EM (VWO): ETF Research Reports ISHARS-CR MS EM (IEMG): ETF Research Reports To read this article on Zacks.com click here. Zacks Investment Research Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report