Exposure to Emerging Markets via an ETF

A while ago I decided to start a new position in Vanguard MSCI Emerging Markets ETF (NYSE: VWO). The fund holds 540 equity components mainly from Asia (55%) and Latin America (21%). There are mostly large cap corporations scattered over great many industries. Banks (18%) are the largest sector, which is typical to emerging markets.

Country exposure: China (16%), South Korea (15%), Brazil (14%), Taiwan (11%), India (7%), South Africa (7%), Russia 6%), Mexico (4%) and a whole bunch of countries at 3% or below. The largest holdings are Petroleo Brasileiro (2,11%+1,75%), Samsung (2,78%),  and Gazprom (2%) at the time of writing.
In my previous post I discussed direct stock holdings vs. owning an ETF. This particular ETF meets my general conditions for a good ETF:

• seems to directly own the stocks as far as I can tell (as opposed to playing with swap-contracts)
• low expense ratio (0,22%; source XTF)
• average ask/bid ratio of just 0,03% (source: XTF)
• XTF ranks the fund in 78th percentile with regards to structural integrity (takes into account many things such as previously mentioned metrics as well as tracking error etc.)

Vanguard is a big player. This one ETF alone has market capitalization of $46,2 billion USD.