I just tallied up my exposure to EM to reply to this thread, and it was a little higher than I would have guessed: 27% (if you include China and most Asian countries as "emerging"). Without China, it's 24%.
Total international direct exposure: 38% (excluding effects of US-domiciled companies with large overseas sales)
Which is fine for me, since I'm trying to increase my foreign exposure with the belief that the US won't have as high of a repeat success of the long-run market averages from 1900-2000. And it's also a small consolation to help explain why my overall portfolio went up "only" about 15% in 2013 - which is still better than a sharp stick in the eye, but when you see the domestic indexes rise 25%-30%, it can be a little frustrating. Just waiting for EM's turn!