Here’s the 2015 chart of the S&P500, the Canadian TSX, then a whole bunch of the most traded LatAm markets BUT, to make things straight and fair we use the country ETFs that are denominated in US Dollars and traded on the NYSE (which removes any and all currency/inflation biases):
Even adjusted for inflation, Argentina’s stocks at +18% 2015 YTD are still way out in the lead.