The Vietnamese ETF complex closed the 28/10/2026 session with a mildly constructive tape. The VN-Index added 0.27% to 1,766.65 points — printing a session high of 1,767.35 against a low of 1,753.95 — while the VN30-Index advanced 0.10% to 1,890.22 points (high 1,893.05 / low 1,877.77). Across the 24 ETFs listed on HOSE, total assets under management stood at 23.10T VND and aggregate secondary-market turnover reached just 12.64B VND. Foreign investors were marginal net buyers, with buy value of 5.39B VND against sell value of 4.68B VND, for a net +0.72B VND, according to HOSE / VCI order-book data on etf.com.vn.
Key Takeaways
- Breadth was neutral-to-soft: of 24 HOSE-listed ETFs, 6 advanced, 8 declined and 10 closed unchanged, with total industry AUM at 23.10T VND and total turnover of only 12.64B VND — a low-liquidity session in notional terms.
- Foreign order-book flow diverged sharply within the two mega-funds: E1VFVN30 recorded +1.54B VND of net foreign buying (albeit -0.34B VND over 5 days), while FUEVFVND printed -1.32B VND net on the day but +14.49B VND cumulatively over the last five sessions.
- Execution happened above VWAP almost everywhere: every fund with meaningful volume closed above its intraday VWAP, with FUEDCMID at +1.99%, FUESSV50 at +1.86% and FUESSV30 at +1.46% — a signal of intraday demand leaning on the offer.
Benchmark Context and the Aggregate ETF Tape
A +0.27% Index Day With Thin ETF Turnover
The index gain was narrow and orderly, and the ETF tape reflected that: total trading value of 12.64B VND across 24 funds is small relative to the 23.10T VND asset base, implying a turnover ratio well below 0.1%. That is characteristic of a session where institutional allocation decisions are made in the primary market (creation/redemption) rather than through on-screen secondary buying.
Within the large-cap complex, E1VFVN30 closed at 33,990 VND (-0.03%) on 198,000 units — the highest unit volume on the board — with AUM of 5,880B VND. Its 1-week return of +2.16% contrasts with a 1-month return of -1.39% and a YTD figure of -5.79%. FUEVFVND, the largest fund at 10,527B VND, closed at 32,500 VND (+0.68%) on 127,200 units; it is -0.88% over 1 week, -1.63% over 1 month and -15.14% YTD.
At the thematic end, FUEDCMID at 11,790 VND (-0.08%) is the notable medium-term outperformer: +2.97% over 1 month and +4.42% over 1 week, against a YTD drawdown of -20.32%. FUEVN100 rose 1.39% to 24,840 VND, and FUESSVFL gained 1.03% to 28,490 VND.
VWAP Analysis: Where Buyers Paid Up
Close vs Intraday VWAP Across Liquid HOSE ETFs
Comparing close to intraday VWAP isolates whether late-session flow was aggressive. On 28/10/2026 the answer was yes. FUEKIV30 closed 12,990 VND, +0.91% above its 12,872 VND VWAP; FUESSV30 closed 24,000 VND, +1.46% above its 23,655 VND VWAP, despite a flat 0.00% daily change — evidence that the unchanged print masked intraday buying. Only FUEIP100 traded below VWAP (-0.70% versus 12,810 VND), on just 400 units.
| Ticker | Fund | Close (VND) | 1D | Intraday VWAP (VND) | Close vs VWAP | Volume (units) | Foreign Net 1D (VND) | AUM (VND) |
|---|---|---|---|---|---|---|---|---|
| E1VFVN30 | DCVFMVN30 ETF | 33,990 | -0.03% | 33,844 | +0.43% | 198,000 | +1.54B | 5,880B |
| FUEVFVND | DCVFMVN Diamond ETF | 32,500 | +0.68% | 32,313 | +0.58% | 127,200 | -1.32B | 10,527B |
| FUESSVFL | SSIAM VNFIN LEAD ETF | 28,490 | +1.03% | 28,266 | +0.79% | 12,300 | -0.09B | 604B |
| FUEKIV30 | KIM Growth VN30 ETF | 12,990 | +0.00% | 12,872 | +0.91% | 10,300 | +0.13B | 2,298B |
| FUESSV30 | SSIAM VN30 ETF | 24,000 | +0.00% | 23,655 | +1.46% | 23,700 | +0.33B | 257B |
| FUEVN100 | VinaCapital VN100 ETF | 24,840 | +1.39% | 24,702 | +0.56% | 22,100 | -0.04B | 700B |
| FUEMAV30 | MAFM VN30 ETF | 23,350 | -0.21% | 23,307 | +0.18% | 1,000 | +0.08B | 521B |
| FUEDCMID | DCVFMVNMIDCAP ETF | 11,790 | -0.08% | 11,560 | +1.99% | 2,100 | -0.01B | 281B |
| FUESSV50 | SSIAM VNX50 ETF | 28,780 | +3.01% | 28,254 | +1.86% | 700 | +0.00B | 201B |
| FUEIP100 | IPAAM VN100 ETF | 12,720 | -0.31% | 12,810 | -0.70% | 400 | +0.00B | 64B |
Source: HOSE / VCI order-book data, session 28/10/2026, via etf.com.vn. FUESSV50's +3.01% print occurred on only 700 units and should not be read as a benchmark signal.
Foreign Net Trading: Secondary Order Book vs Primary Creation Flows
E1VFVN30 Attracts, FUEVFVND Consolidates
It is critical to separate the +0.72B VND industry-wide figure from primary-market activity. The number above is secondary-market foreign net trading value on HOSE, derived from matched order-book data (VCI), not ETF creation or redemption. No primary-market creation/redemption print is disclosed in this session's dataset, so the +0.72B VND should be read purely as on-exchange positioning.
The dispersion is the story. E1VFVN30 drew +1.54B VND of net foreign buying on the day, even though its 5-day cumulative figure is -0.34B VND — i.e. one session reversed a week of mild distribution. FUEVFVND shows the mirror image: -1.32B VND on the day, but +14.49B VND over five sessions, the largest 5-day foreign accumulation on the board and consistent with the fund's dominant 10,527B VND AUM. FUEVN100 added +1.30B VND over 5 days against -0.04B VND on the day. Smaller funds were quiet: FUEKIV30 +0.13B VND, FUESSV30 +0.33B VND, FUEMAV30 +0.08B VND.
Basket composition explains part of the tilt. The VN-Diamond basket is 15.1% FPT, 12.8% PNJ, 12.4% MWG, 10.6% GMD, 9.8% ACB and 9.1% TCB, versus the VN30 basket's 12.4% FPT, 9.2% TCB, 8.6% ACB, 8.4% HPG and 7.5% VPB. With FUEVFVND down 15.14% YTD, foreign buying over the 5-day window looks closer to valuation-driven rebalancing than momentum chasing.
Positioning Into the Next Session
What the Tape Suggests
Three observations matter for allocation. First, execution quality: with nearly every liquid fund closing above VWAP, passive buyers should benchmark fills against intraday VWAP rather than the close to avoid overpaying on thin days like this. Second, liquidity concentration: E1VFVN30 and FUEVFVND together account for roughly 16.4T VND of the 23.10T VND industry AUM, so any primary-market rotation between the two benchmarks dominates aggregate flow statistics. Third, the mid-cap sleeve (FUEDCMID, +2.97% over 1 month) is quietly outperforming the large-cap benchmarks (E1VFVN30 -1.39%, FUESSV30 -0.46% over 1 month).
Use the live board at /en/thi-truong for real-time VWAP and foreign net prints, browse the full fund line-up at /en/san-pham, drill into /en/san-pham/e1vfvn30 and /en/san-pham/fuevfvnd, and run head-to-head analytics at /en/cong-cu/so-sanh.
Frequently Asked Questions
1. How much foreign money actually flowed into HOSE ETFs on 28/10/2026?
Foreign investors bought 5.39B VND and sold 4.68B VND on the secondary market, for a net +0.72B VND across 24 HOSE-listed ETFs, per VCI order-book data on etf.com.vn. This is on-exchange net trading value, not primary-market creation flow.
2. Why did E1VFVN30 close flat while FUEVFVND rose 0.68%?
E1VFVN30 closed at 33,990 VND (-0.03%, +0.43% above its 33,844 VND VWAP) with +1.54B VND foreign net, while FUEVFVND closed at 32,500 VND (+0.68%, +0.58% above its 32,313 VND VWAP) despite -1.32B VND of foreign net selling. The divergence tracks basket composition — VN-Diamond carries a 15.1% FPT and 12.8% PNJ weighting versus 12.4% FPT in the VN30 basket.
3. What does the close-versus-VWAP premium tell me?
Nine of the ten most-traded funds closed above intraday VWAP, ranging from +0.18% (FUEMAV30) to +1.99% (FUEDCMID). A positive close-to-VWAP spread indicates late-session demand absorbed supply above the day's average price; FUESSV30 and FUEKIV30 both printed 0.00% daily changes yet finished +1.46% and +0.91% above VWAP respectively.
Screen every metric referenced in this recap — price, VWAP, volume, AUM and foreign net flow — directly in our tools: market board, ETF comparison tool, and portfolio builder.
Disclaimer: This content is for informational purposes only and does not constitute personal investment advice.