Vietnam's exchange-traded fund complex finished the 26/10/2026 session on the back foot, tracking a broad pullback in the underlying cash market. The VN-Index shed 0.60% to 1,763.55 points and the VN30-Index fell 0.92% to 1,889.53 points, and that large-cap underperformance transmitted directly into the domestic tracker universe: of the 24 HOSE-listed ETFs, 5 advanced, 14 declined and 5 closed unchanged, on total secondary-market turnover of 18.71 billion VND against aggregate AUM of 23.13 trillion VND. Foreign investors were net sellers of 7.35 billion VND across the ETF segment, according to HOSE / VCI order-book data compiled on etf.com.vn.
Key Takeaways
- Breadth tilted decisively negative: 14 of 24 HOSE ETFs closed lower versus 5 advancers, with total ETF trading value at 18.71 billion VND against 23.13 trillion VND of aggregate AUM.
- Two funds absorbed almost all foreign selling: E1VFVN30 (-2.57 billion VND) and FUEVFVND (-4.06 billion VND) together accounted for 6.63 billion VND, or 90.2%, of the -7.35 billion VND segment-wide foreign net outflow.
- Large-cap trackers all closed below intraday VWAP: E1VFVN30 printed 34,000 VND against a 34,078 VND VWAP (-0.23%), FUEVFVND 32,600 VND against 32,712 VND (-0.34%) and FUEVN100 24,730 VND against 24,924 VND (-0.78%), pointing to supply concentrated into the closing auction.
Benchmark Backdrop: VN30 Drags the Tape Lower
A 19-point intraday range that resolved near the low
The VN-Index traded a 19.14-point band between 1,781.45 and 1,762.31 before settling at 1,763.55 — only 1.24 points above the session low. The VN30-Index behaved the same way, ranging from 1,908.53 down to 1,888.99 and closing at 1,889.53, a marginal 0.54 points off its low. That closing pattern matters for ETF holders because the largest domestic trackers are built on baskets where FPT (12.4%), TCB (9.2%), ACB (8.6%), HPG (8.4%), VPB (7.5%), MBB (7.1%) and MWG (6.2%) dominate the VN30 weight profile, so a weak VN30 tape mechanically depresses NAV across the four VN30-replicating funds.
Turnover remains a two-fund market
Liquidity stayed heavily concentrated. E1VFVN30 traded 277,000 units at a 34,078 VND VWAP (approximately 9.42 billion VND notional) and FUEVFVND traded 225,300 units at a 32,712 VND VWAP (approximately 7.34 billion VND notional). Together that is roughly 16.76 billion VND, or 89.6% of the 18.71 billion VND traded across all 24 funds. By contrast FUEMAV30 moved 700 units, FUEMAVND 300 units and FUEKIVFS recorded zero volume at a 16,210 VND reference price.
Price vs. Intraday VWAP: Where Execution Quality Diverged
The discount-to-VWAP cluster
A negative close-versus-VWAP gap is the cleanest short-horizon signal of end-of-day selling pressure. On 26/10/2026 that cluster was dominated by the large, liquid vehicles: FUEDCMID closed 0.48% under VWAP (11,600 versus 11,656 VND), FUESSVFL 0.34% under (28,520 versus 28,616 VND) and FUEVFVND 0.34% under. FUESSVFL's decline of 1.62% was the deepest one-day fall among the financial-sector trackers, consistent with its concentrated VNFinLead basket where TCB (14.8%), ACB (14.2%), MBB (13.6%), VPB (12.9%) and STB (11.4%) carry the bulk of weight.
Premiums were confined to illiquid lines
The only positive gaps of any size appeared in thin order books: FUEMAVND closed 2.27% above its 13,640 VND VWAP on just 300 units, FUESSV50 closed 1.05% above a 28,294 VND VWAP on 1,200 units, and FUEIP100 posted a 6.99% gain to 11,940 VND — precisely at its VWAP — on 4,400 units, a print more consistent with sparse two-way liquidity than with any fundamental re-rating. FUEKIV30 was the sole VN30 tracker to close higher, +0.31% at 13,040 VND and 0.17% above its 13,017 VND VWAP, on 4,300 units.
| Ticker | Fund | Close (VND) | 1D % | Intraday VWAP (VND) | Close vs VWAP | Volume (units) | Foreign Net 1D (B VND) | AUM (B VND) |
|---|---|---|---|---|---|---|---|---|
| E1VFVN30 | DCVFMVN30 ETF | 34,000 | -1.19% | 34,078 | -0.23% | 277,000 | -2.57 | 5,879 |
| FUEVFVND | DCVFMVN Diamond ETF | 32,600 | -0.91% | 32,712 | -0.34% | 225,300 | -4.06 | 10,559 |
| FUEKIV30 | KIM Growth VN30 ETF | 13,040 | +0.31% | 13,017 | +0.17% | 4,300 | +0.02 | 2,307 |
| FUEVN100 | VinaCapital VN100 ETF | 24,730 | -1.87% | 24,924 | -0.78% | 29,100 | -0.24 | 697 |
| FUESSVFL | SSIAM VNFIN LEAD ETF | 28,520 | -1.62% | 28,616 | -0.34% | 8,400 | +0.09 | 605 |
| FUEMAV30 | MAFM VN30 ETF | 23,390 | -0.68% | 23,323 | +0.29% | 700 | -0.00 | 522 |
| FUEDCMID | DCVFMVNMIDCAP ETF | 11,600 | -1.69% | 11,656 | -0.48% | 3,000 | -0.02 | 276 |
| FUESSV30 | SSIAM VN30 ETF | 23,990 | -0.58% | 23,983 | +0.03% | 25,100 | -0.55 | 257 |
| FUESSV50 | SSIAM VNX50 ETF | 28,590 | -0.28% | 28,294 | +1.05% | 1,200 | -0.02 | 200 |
| FUEMAVND | MAFM VNDIAMOND ETF | 13,950 | -0.57% | 13,640 | +2.27% | 300 | +0.00 | 188 |
Foreign Flows: Secondary-Market Selling, Not Primary Redemptions
-7.35 billion VND of net order-book selling
Foreign investors bought 5.25 billion VND and sold 12.60 billion VND of HOSE-listed ETFs on 26/10/2026, producing a net -7.35 billion VND figure. This is secondary-market foreign net trading value on HOSE, sourced from VCI order-book data on etf.com.vn — it is not primary-market creation/redemption activity, and the two should not be conflated. The Diamond complex dominated the sell side: FUEVFVND at -4.06 billion VND and E1VFVN30 at -2.57 billion VND together represent 90.2% of the total, while FUESSV30 (-0.55 billion VND) and FUEVN100 (-0.24 billion VND) accounted for most of the remainder. FUESSVFL was the only meaningful net buyer at +0.09 billion VND.
The five-day picture is materially different
Zooming out, FUEVFVND's five-day foreign net position stands at +23.07 billion VND against a one-day outflow of -4.06 billion VND — a single-session reversal inside a still-positive weekly trend. E1VFVN30 is negative on both horizons (-3.88 billion VND over five days), as is FUESSVFL (-3.82 billion VND), while FUEVN100 (+1.88 billion VND) and FUEKIV30 (+1.00 billion VND) remain net accumulations. Offshore proxies were also soft: VanEck Vietnam ETF (VNM) fell 0.93% to $16.99 on 489,000 shares and Xtrackers FTSE Vietnam ETF (XFVT) slipped 0.68% to £29.18 on 1,000 shares.
Structural Read-Across for Allocation
Scale is concentrated at the top
FUEVFVND alone holds 10,559 billion VND, or 45.6% of the 23.13 trillion VND HOSE ETF universe, with E1VFVN30 at 5,879 billion VND (25.4%). The two funds represent 16,438 billion VND, or 71.1% of total AUM — a concentration that makes their daily flow prints the single most important signal for the domestic ETF tape. Beyond the top tier, FUEKIV30 at 2,307 billion VND is the only other fund above one trillion VND.
Relative performance divergences worth monitoring
Year-to-date, the Diamond replication group remains the weakest cohort (FUEVFVND -14.88%, FUEKIVND -14.67%, FUEMAVND -13.35%), while FUESSV50 (+0.60% YTD) is the only fund in the table in positive territory. FUEDCMID is the one-month standout at +2.97% and the worst five-month-plus performer at -20.32% YTD — a spread that argues for disciplined rebalancing rather than momentum chasing into the mid-cap segment.
Explore the data: track live benchmark moves on our Vietnam market hub, review fund specifications on the ETF product pages, run side-by-side metrics in the ETF comparison tool, read how VWAP and AUM are calculated in our methodology note, and screen basket constituents with the stock lookup tool.
Frequently Asked Questions
1. How much foreign net selling occurred in Vietnam ETFs on 26/10/2026?
Foreign investors bought 5.25 billion VND and sold 12.60 billion VND of HOSE-listed ETFs, a net -7.35 billion VND, per VCI order-book data on etf.com.vn. E1VFVN30 (-2.57 billion VND) and FUEVFVND (-4.06 billion VND) contributed 6.63 billion VND, or 90.2%, of that outflow.
2. What does closing below intraday VWAP indicate for these ETFs?
E1VFVN30 closed at 34,000 VND versus a 34,078 VND VWAP (-0.23%), FUEVFVND at 32,600 VND versus 32,712 VND (-0.34%) and FUEVN100 at 24,730 VND versus 24,924 VND (-0.78%). A negative close-to-VWAP gap means the marginal execution price finished below the volume-weighted average for the session, consistent with sell pressure concentrated into the close.
3. Which Vietnam ETF is largest by AUM and how concentrated is the market?
FUEVFVND is the largest at 10,559 billion VND, equal to 45.6% of the 23.13 trillion VND total HOSE ETF AUM. Combined with E1VFVN30 at 5,879 billion VND (25.4%), the top two funds hold 16,438 billion VND, or 71.1% of the entire segment.
Disclaimer: This content is for informational purposes only and does not constitute personal investment advice.