The Global X Russell Emerging Markets Growth ETF and the Global X Russell Emerging Markets Value ETF track the Russell Emerging Market MegaCap Growth Index and the Russell Emerging Market MegaCap Value Index, respectively.
According to a press release, the Russell Emerging Market MegaCap Growth Index measures the performance of the mega-cap growth segment of the emerging markets equity universe, screened for those companies with higher price-to-book ratios and higher expected growth values. The Russell Emerging Market MegaCap Value Index measures the performance of the mega-cap value segment of the emerging markets equity universe, screened for those companies with lower price-to-book ratios and lower expected growth values.
More information is at http://www.globalxfunds.com.