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Up to now you can find 2 ETF focused on emerging markets in Central and
Eastern Europe.

SPDR S&P Emerging Europe (GUR)
Central Europe & Russia Fund CEF (CEE)

Both with half holdings in Russia and the rest coming from Poland, Turkey, Czech Republic and Hungary. It's always very difficult for US investor to find investment instrument into Poland, Czech Republic or EU newcomers like Romania and Bulgaria.

But, there is a new ETF in the pipeline. iShares MSCI Emerging Markets Eastern Europe Index Fund. Ishares filed prospect in the beginning of April (link on SEC.gov).

ETF for CEE emerging markets.

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