Claymore have released the Claymore/BYN Mellon Frontier Markets ETF (FRN), an ETF that invests in frontier markets, which are small volatile countries like Poland, Chile, and Lebanon. They are not emerging market such as China and Russia who are relatively more developed.
I must admit that my interest for investing in frontier markets comes mainly from the appeal of investing in something exotic and different. Because I try to be as thrifty as possible, investments are the only area where I can release my consumerist desires. I therefore love to shop for investments.
Unfortunately for me, this frontier markets ETF is not available for Australians. Only the Americans can get it. It is purchased I think on the New York Stock Exchange.