Turkey was the worst performing country ETF of 2018 down -41%. Yet, perhaps counter-intuitively, data suggests this is a good sign.
Turkey is no stranger to being the worst-performing country, but on the 3 occasions it's happened recently, the average subsequent 1-year annual return is 280%.
This strategy is volatile. For example, in 2010, Greece lost -45% only to lose -63% the following year. However, the results of this strategy historically outperform global indices.
Turkey appears to be a strong candidate for robust expected returns in 2019 and beyond driven by a general re-rating of the market from 6x earnings and export-led growth.