This is not entirely true, is it?
The market reshuffled mid/end October. Many emerging markets surged by more than 10% (but not all of them, which makes me question the idea of holding one aggregate EM ETF instead of individual markets).
Most developed markets move well in sync, but if you look outside of them, you’ll see many large moves in EM (South Africa 17% in 3 weeks, Indonesia 15%, South Korea 12%). My best investment has been Ishares MSCI Turkey (ITKY) up 32% since end of August. Brazil has seen a similar spectacular increase since the presidential elections there.
I’m now positioning myself for the trade deal with China. It’s a bet, but I think this will happen.
I know you shouldn’t time the market, but there may well be some good moments to do that.