Vietnam's three flagship HOSE ETFs diverged in the 23/10/2026 reference session: VN30 and financial-sector trackers printed closes well above their intraday VWAP, while the Diamond basket lagged a firm tape. The VN-Index rose 0.77% to 1,774.15 pts and the VN30-Index added 0.75% to 1,907.09 pts, according to HOSE / VCI order-book data on etf.com.vn, yet FUEVFVND still closed marginally lower.
Key Takeaways
- E1VFVN30 closed at 34,410 VND (+1.27%), 1.25% above its 33,986 VND intraday VWAP on 231,000 units — the widest close-to-VWAP premium of the three mega-ETFs.
- FUEVFVND was the only decliner of the trio (-0.12% to 32,900 VND) despite trading 0.64% above its 32,690 VND VWAP, on 99,000 units and a 10,640B VND AUM base.
- FUESSVFL led momentum at +1.83% (28,990 VND) and is the only one of the three positive over 1 month (+0.83%); total HOSE ETF foreign net was +1.96B VND, a secondary-market figure only.
Price Action: Close Versus Intraday VWAP
Where Buyers Paid Up
E1VFVN30 (AUM 5,956B VND) closed 1.25% above VWAP, indicating demand concentrated late in the session. FUESSVFL (615B VND AUM, 78,300 units) closed 0.89% above its 28,734 VND VWAP. FUEVFVND closed only 0.64% above VWAP — the thinnest premium and the only negative 1-day return — a profile consistent with closing-bell supply.
| ETF | Close (VND) | 1D | Intraday VWAP | Close vs VWAP | Volume | Foreign Net 1D | AUM |
|---|---|---|---|---|---|---|---|
| E1VFVN30 | 34,410 | +1.27% | 33,986 | +1.25% | 231,000 | +0.51B | 5,956B |
| FUEVFVND | 32,900 | -0.12% | 32,690 | +0.64% | 99,000 | -0.42B | 10,640B |
| FUESSVFL | 28,990 | +1.83% | 28,734 | +0.89% | 78,300 | -0.04B | 615B |
| FUESSV30 | 24,130 | +1.17% | 23,789 | +1.44% | 50,300 | +0.12B | 258B |
| FUEVN100 | 25,200 | +2.44% | 24,823 | +1.52% | 89,300 | +1.61B | 711B |
Foreign Flow: Secondary Tape, Not Primary Creation
Fund-Level Nuance
Aggregate HOSE ETF foreign activity was 10.02B VND of buys against 8.06B VND of sells, net +1.96B VND — secondary-market order-book value on HOSE, distinct from primary-market ETF creation/redemption. E1VFVN30 recorded +0.51B VND (1D) but -6.25B VND over 5 days; FUEVFVND took -0.42B VND today against +24.84B VND over 5 days; FUESSVFL was -0.04B VND today and -3.35B VND over 5 days.
NAV Deviation and What to Watch
Basket Composition Explains the Divergence
FUESSVFL tracks a VNFinLead basket dominated by TCB (14.8%), ACB (14.2%), MBB (13.6%), VPB (12.9%) and STB (11.4%). The Diamond basket carries FPT (15.1%), PNJ (12.8%), MWG (12.4%) and GMD (10.6%), while the VN30 basket is led by FPT (12.4%), TCB (9.2%) and ACB (8.6%). Year-to-date, FUEVFVND is the weakest at -14.10% versus -4.66% for E1VFVN30 and -4.51% for FUESSVFL. Track live premiums on the market dashboard and compare fund profiles via E1VFVN30, FUEVFVND, FUESSVFL and the full ETF product list.
Frequently Asked Questions
1. Did E1VFVN30, FUEVFVND and FUESSVFL close above VWAP on Oct 23, 2026?
Yes. E1VFVN30 closed 34,410 VND, 1.25% above its 33,986 VND VWAP; FUEVFVND 32,900 VND, 0.64% above 32,690 VND; FUESSVFL 28,990 VND, 0.89% above 28,734 VND.
2. Is a VWAP premium the same as an ETF NAV deviation?
No. Close-versus-VWAP measures execution quality within the session, whereas NAV deviation compares secondary price to the basket's end-of-day valuation. On this session the visible data support a premium, not an NAV discount.
3. How large were foreign flows into Vietnamese ETFs?
Total HOSE ETF foreign net was +1.96B VND (buys 10.02B, sells 8.06B), a secondary-market figure. FUEVFVND attracted +24.84B VND over 5 days despite -0.42B VND on the day.
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Disclaimer: This content is for informational purposes only and does not constitute personal investment advice.