HOSE-listed ETFs closed the 26/10/2026 session with total market AUM of 23.13T VND and aggregate secondary-market turnover of 18.71B VND, as the VN-Index fell 0.60% to 1,763.55 points (high 1,781.45 / low 1,762.31) and the VN30-Index dropped 0.92% to 1,889.53 points. Breadth across the 24 HOSE ETF products was decisively negative — 5 advancers, 14 decliners and 5 unchanged — while foreign investors recorded a net sell of 7.35B VND on the ETF tape, according to HOSE / VCI order-book data on etf.com.vn.
Key Takeaways
- Foreign investors bought 5.25B VND and sold 12.60B VND of HOSE-listed ETFs for a net -7.35B VND session; E1VFVN30 (-2.57B VND) and FUEVFVND (-4.06B VND) alone accounted for -6.63B VND, or roughly 90% of the market-wide net outflow.
- Both mega-funds closed below their session VWAP: E1VFVN30 at 34,000 VND (-0.23% versus VWAP of 34,078 VND) and FUEVFVND at 32,600 VND (-0.34% versus VWAP of 32,712 VND) — the footprint of persistent late-session supply in the two funds that hold 71% of total HOSE ETF AUM.
- FUEKIV30 was the only sizeable VN30 tracker to close higher (+0.31% to 13,040 VND) and above VWAP (+0.17%), with +0.02B VND foreign net on the day and +1.00B VND accumulated over the trailing five sessions.
Breadth and Foreign Net Flows: A Highly Concentrated Deficit
Two funds absorbed 90% of the net selling
The session's foreign outflow was not broad-based. FUEVFVND, the largest fund in the market at 10,559B VND of AUM, printed -4.06B VND of foreign net trading value while closing -0.91% at 32,600 VND on 225,300 units. E1VFVN30 added -2.57B VND, taking its five-day foreign net to -3.88B VND — a consistent distribution pattern rather than a single-session event. Notably, FUEVFVND's own five-day foreign net remains positive at +23.07B VND, implying the 26/10 selling is a partial retracement of a larger accumulation phase rather than a trend reversal in isolation.
Elsewhere, FUESSVFL attracted a marginal +0.09B VND despite falling 1.62% to 28,520 VND — the weakest close among funds above 500B VND of AUM — although its five-day foreign net remains -3.82B VND. FUEVN100 saw -0.24B VND of net selling against a five-day positive of +1.88B VND.
Reading these numbers correctly
All foreign flow figures cited here are secondary-market foreign net trading values on HOSE, compiled from VCI order-book data published on etf.com.vn. They measure on-exchange buying and selling of listed ETF units by foreign investors. They must not be conflated with primary-market creation/redemption activity between authorised participants and fund issuers, which is transacted off the order book and is not captured in this dataset. No session-level creation/redemption prints are available for 26/10/2026; inferring them from AUM changes alone would be speculative.
VWAP Analysis: Execution Cost and Intraday Liquidity
Below-VWAP closes in the two largest funds
Session VWAP is the cleanest available proxy for the average execution price paid by all participants on the day. When the closing price sits below VWAP, sellers dominated the later part of the session and buyers executing at the close faced negative slippage relative to the day's average. That was the case for E1VFVN30 (-0.23%), FUEVFVND (-0.34%), FUEVN100 (-0.78%) and FUEDCMID (-0.48%). FUEVN100's -0.78% gap to VWAP was the widest among liquid funds, consistent with its -1.87% close and 29,100 units traded.
| ETF | Close (VND) | 1D % | Session VWAP (VND) | Close vs VWAP | Volume (units) | Foreign net 1D (B VND) | AUM (B VND) |
|---|---|---|---|---|---|---|---|
| E1VFVN30 | 34,000 | -1.19% | 34,078 | -0.23% | 277,000 | -2.57 | 5,879 |
| FUEVFVND | 32,600 | -0.91% | 32,712 | -0.34% | 225,300 | -4.06 | 10,559 |
| FUEKIV30 | 13,040 | +0.31% | 13,017 | +0.17% | 4,300 | +0.02 | 2,307 |
| FUESSV30 | 23,990 | -0.58% | 23,983 | +0.03% | 25,100 | -0.55 | 257 |
| FUESSVFL | 28,520 | -1.62% | 28,616 | -0.34% | 8,400 | +0.09 | 605 |
| FUEVN100 | 24,730 | -1.87% | 24,924 | -0.78% | 29,100 | -0.24 | 697 |
| FUEMAV30 | 23,390 | -0.68% | 23,323 | +0.29% | 700 | -0.00 | 522 |
| FUEDCMID | 11,600 | -1.69% | 11,656 | -0.48% | 3,000 | -0.02 | 276 |
Thin-liquidity distortions should not be read as signals
Two prints in the dataset illustrate why VWAP dispersion must be liquidity-adjusted. FUEMAVND closed at 13,950 VND, +2.27% above a VWAP of 13,640 VND, on just 300 units. FUEIP100 closed +6.99% at 11,940 VND on 4,400 units against a 60B VND AUM — a move that reflects microstructural pricing in a very small fund, not an index-level repricing. FUEKIVFS and FUEMAVND both recorded zero or near-zero foreign activity. Across the 24-fund universe, 18.71B VND of total turnover means position sizing, not direction, is the dominant execution risk for institutional orders in sub-300B VND products.
VN30 versus VN Diamond: Composition Explains the YTD Dispersion
Basket weights drive a ~9 percentage point gap
The YTD performance split is structural, not tactical. VN30 trackers are clustered between -5.18% (FUESSV30) and -5.79% (E1VFVN30), against -13.35% (FUEMAVND) to -14.88% (FUEVFVND) for the VN Diamond complex. The Diamond basket carries 15.1% FPT, 12.8% PNJ, 12.4% MWG, 10.6% GMD, 9.8% ACB, 9.1% TCB, 7.9% MBB and 6.8% REE — a materially higher concentration in the FPT/PNJ/MWG cluster than the VN30 basket, where FPT is 12.4%, TCB 9.2%, ACB 8.6%, HPG 8.4%, VPB 7.5%, MBB 7.1% and MWG 6.2%. FUESSV50 is the only screened fund positive YTD at +0.60%, while FUEDCMID remains the weakest at -21.67% despite a +1.22% one-month gain.
Practical implications for allocation
For institutional allocators, the 26/10 session reinforces a simple framework: use E1VFVN30 or FUEKIV30 for broad VN30 beta where +0.03% to +0.29% VWAP tracking is achievable on 25,000–277,000 unit days, and treat Diamond exposure as a deliberate factor bet on the FPT/PNJ/MWG/GMD cluster that requires a longer horizon to absorb a ~9 pp YTD gap. Verify methodology and NAV treatment in our methodology reference, review the full ETF product universe, and start from the E1VFVN30 product page or the live market overview.
Frequently Asked Questions
1. How large was the foreign net outflow from Vietnamese ETFs on 26/10/2026?
HOSE-listed ETFs recorded foreign buying of 5.25B VND against foreign selling of 12.60B VND, a net outflow of 7.35B VND, per HOSE / VCI order-book data on etf.com.vn. E1VFVN30 (-2.57B VND) and FUEVFVND (-4.06B VND) together represented -6.63B VND, approximately 90% of the total.
2. What does the close-versus-VWAP gap reveal about ETF liquidity on the session?
E1VFVN30 closed at 34,000 VND, 0.23% below its 34,078 VND VWAP, and FUEVFVND closed at 32,600 VND, 0.34% below its 32,712 VND VWAP, indicating selling pressure concentrated toward the close. FUEVN100 showed the widest gap at -0.78% (24,730 VND versus 24,924 VND VWAP), while FUEKIV30 and FUEMAV30 closed above VWAP at +0.17% and +0.29% respectively.
3. Why did VN Diamond ETFs underperform VN30 ETFs by roughly 9 percentage points YTD?
YTD, FUEVFVND is -14.88% and FUEMAVND -13.35%, versus -5.18% for FUESSV30 and -5.79% for E1VFVN30. The Diamond basket weights FPT at 15.1%, PNJ at 12.8%, MWG at 12.4% and GMD at 10.6%, versus FPT at 12.4% and MWG at 6.2% in the VN30 basket, so relative performance is dominated by that more concentrated constituent mix rather than by fund-level execution.
Track live flows and VWAP on the etf.com.vn market page, run cross-fund comparisons in the ETF comparison tool, model allocations with the portfolio builder, screen constituents via the stock lookup tool, or build a custom ETF basket with the ETF basket builder.
Disclaimer: This content is for informational purposes only and does not constitute personal investment advice.