I don't have easy access to the range of Fidelity investment vehicles available. But I would think that the "Emerging Markets" portfolio would be more risky than an "Established Markets" portfolio for investment purposes.
If you have a few years to invest in your superannuation, you might consider "investing" rather than "speculating". If you have at around 5-10 years years of provident fund investing, I would say that you are far better off investing in blue-chip shares and investments.
If you are trying to make a retirement portfolio in less than 5 years, well, I would invest in wine, fast cars, fast women and base jumping. At least you will enjoy your last few years on this earth and the future be dammed!
You may have noticed a "correction" in the Markets in the last couple of days. This event will become clearer over the next week. But keep your eyes open for buying opportunities as the Market comes to it's senses and recovers.