I overweight them. Lately, that hasn't worked out. Hopefully it will work out in my favor in the future, but nobody knows for sure. The key is to pick an asset allocation and stick to it. Investing in EM isn't something you want to just dabble in, or you'll probably get burned and get out, missing the hot streaks.
VEMAX is a perfectly good fund to achieve this (or VWO, or IEMG if you're buying ETFs).