Vietnam's listed ETF complex closed the session of 30/10/2026 on a defensive footing. The VN-Index settled at 1,741.62 points (-0.80%) after trading between 1,727.00 and 1,748.68, while the VN30-Index closed at 1,855.04 points (-1.18%). Aggregate HOSE ETF assets stood at 22.76 trillion VND across 24 funds. Breadth was negative — 4 advancers, 11 decliners and 9 unchanged — on total ETF trading value of 28.69 billion VND. According to HOSE / VCI order-book data on etf.com.vn, foreign investors bought 4.46 billion VND and sold 9.81 billion VND of listed ETF units, a net secondary-market outflow of -5.35 billion VND.
Key Takeaways
- Foreign net selling across HOSE-listed ETFs totalled -5.35B VND on 30/10/2026, with FUEVFVND alone contributing -7.40B VND while E1VFVN30 attracted +2.43B VND.
- Total HOSE ETF AUM held at 22.76T VND against session turnover of just 28.69B VND (~0.13% of assets), confirming the tape was plumbing-driven rather than allocation-driven.
- Close-to-VWAP dispersion was extreme: FUESSV30 closed +4.27% above its 23,832 VND VWAP and FUEKIV30 +2.50% above 12,868 VND, versus FUESSVFL at -1.15% below its 27,455 VND VWAP.
Index Pressure Meets Thin ETF Turnover
Index-Level Backdrop and ETF Breadth
The large-cap benchmark carried the day's damage: VN30-Index -1.18% versus VN-Index -0.80%, a 38 basis-point underperformance that maps directly onto the domestic ETF universe, where VN30-replicating vehicles dominate AUM and turnover. Trading value of 28.69 billion VND against a 22.76 trillion VND asset base implies a turnover ratio of roughly 0.13% — a session in which the marginal trade was a rebalance or liquidity fill, not a directional allocation decision.
E1VFVN30 (33,600 VND, -0.91%) printed the largest single-fund turnover of the domestic set at 265,900 units and closed +0.54% above its 33,419 VND intraday VWAP, with AUM of 5,826 billion VND. FUEVFVND (31,700 VND, -1.46%) led by volume at 552,800 units and closed essentially flat to its 31,691 VND VWAP (+0.03%), carrying 10,274 billion VND — 45% of the entire HOSE ETF market. Full instrument detail is available on the /en/san-pham product pages.
Foreign Net Trading: Secondary Tape vs Primary Creation
Where the -5.35B VND Actually Came From
The -5.35 billion VND headline is a secondary-market figure: net foreign buying and selling of already-listed ETF units on HOSE, matched in the order book and sourced from HOSE / VCI data on etf.com.vn. It is not a proxy for primary-market creation or redemption activity, which is transacted between authorised participants and the fund and settles in underlying basket shares. A -5.35B VND secondary print can coexist with net creations, and on this session it clearly did, given that total ETF trading value (28.69B VND) was more than five times the foreign net line.
Concentration was extreme. Of the 12 tracked funds, FUEVFVND contributed -7.40 billion VND on the day and -13.64 billion VND over five sessions, while E1VFVN30 ran the opposite direction at +2.43 billion VND (1D) and +4.40 billion VND (5D). Every remaining fund printed within ±0.26 billion VND. The dispersion therefore reflects a single-index reallocation — Diamond basket exposure out, VN30 core exposure in — not broad foreign risk-off. Refer to /en/phuong-phap-tinh for the calculation conventions behind the VWAP and flow fields.
VWAP Dispersion: The Real Story of Session 30/10
Close vs Intraday VWAP
Intraday VWAP is the strongest available proxy for the true transacted price. On 30/10/2026 the gap between closing price and VWAP separated the liquid funds from the illiquid: FUESSV30 rose +3.58% to 24,850 VND but closed +4.27% above its 23,832 VND VWAP on only 8,900 units, and FUEKIV30 rose +1.46% to 13,190 VND, +2.50% above its 12,868 VND VWAP on 9,900 units. Those marks reflect price discovery in a shallow book, not a fundamental re-rating. By contrast, FUESSVFL fell -4.20% to 27,140 VND while the whole session transacted at a 27,455 VND VWAP — a -1.15% close-to-VWAP discount that implies persistent selling pressure into the close.
| Ticker | Fund | Close (VND) | 1D % | VWAP (VND) | Close vs VWAP | Volume (units) | Foreign Net 1D (B VND) | AUM (B VND) |
|---|---|---|---|---|---|---|---|---|
| E1VFVN30 | DCVFMVN30 ETF | 33,600 | -0.91% | 33,419 | +0.54% | 265,900 | +2.43 | 5,826 |
| FUEVFVND | DCVFMVN Diamond ETF | 31,700 | -1.46% | 31,691 | +0.03% | 552,800 | -7.40 | 10,274 |
| FUEKIV30 | KIM Growth VN30 ETF | 13,190 | +1.46% | 12,868 | +2.50% | 9,900 | +0.01 | 2,333 |
| FUEVN100 | VinaCapital VN100 ETF | 24,670 | 0.00% | 24,466 | +0.83% | 34,600 | -0.26 | 696 |
| FUESSVFL | SSIAM VNFIN LEAD ETF | 27,140 | -4.20% | 27,455 | -1.15% | 25,900 | +0.05 | 575 |
| FUEMAV30 | MAFM VN30 ETF | 23,030 | -0.73% | 22,818 | +0.93% | 800 | -0.06 | 514 |
| FUESSV30 | SSIAM VN30 ETF | 24,850 | +3.58% | 23,832 | +4.27% | 8,900 | -0.08 | 266 |
| FUEDCMID | DCVFMVNMIDCAP ETF | 11,440 | -0.09% | 11,374 | +0.58% | 5,000 | -0.01 | 272 |
Offshore wrappers tracked the same tape: VanEck Vietnam ETF (VNM) closed at $16.93 (-0.29%) on 503,000 shares, and Xtrackers FTSE Vietnam ETF (XFVT) at £28.44 (-1.93%) on 1,000 shares.
Basket Concentration and the Diamond Discount
Constituent Weights Explain the Spread
The VN30 basket (E1VFVN30, FUESSV30, FUEKIV30, FUEMAV30) carries FPT 12.4%, TCB 9.2%, ACB 8.6%, HPG 8.4%, VPB 7.5%, MBB 7.1% and MWG 6.2%. The VN-Diamond basket (FUEVFVND, FUEMAVND, FUEKIVND) is materially more concentrated at the top — FPT 15.1%, PNJ 12.8%, MWG 12.4%, GMD 10.6%, ACB 9.8% — which explains why the Diamond complex carries the widest year-to-date drawdown in the market (FUEVFVND -17.23%, FUEMAVND -16.34%, FUEKIVND -17.72%) and why -7.40 billion VND of foreign net hit FUEVFVND in a single session. The VNFinLead basket (TCB 14.8%, ACB 14.2%, MBB 13.6%, VPB 12.9%, STB 11.4%, SSI 7.8%) explains FUESSVFL's -4.20% close and -6.38% weekly move. Use the /en/cong-cu/so-sanh comparison tool to size these exposures side by side.
Frequently Asked Questions
1. What was the total foreign net flow into Vietnam ETFs on 30/10/2026?
Net foreign selling on the HOSE secondary ETF market was -5.35 billion VND, from 4.46 billion VND of buys against 9.81 billion VND of sells, according to HOSE / VCI order-book data on etf.com.vn. This is secondary-market trading value, not primary-market creation or redemption flow.
2. Why did E1VFVN30 fall only -0.91% when the VN30-Index dropped -1.18%?
E1VFVN30 closed at 33,600 VND against an intraday VWAP of 33,419 VND (+0.54%), meaning the marginal buyer paid up late in the session while the underlying VN30 basket closed at 1,855.04 points. The fund also absorbed +2.43 billion VND of foreign net buying on the day.
3. Which ETF had the largest gap between closing price and VWAP?
FUESSV30, at +4.27% (close 24,850 VND versus VWAP 23,832 VND) on only 8,900 units of volume. FUEKIV30 was second at +2.50% (13,190 VND versus 12,868 VND). Both gaps are liquidity artefacts in thin order books, not NAV-driven moves.
Go deeper: track live session data on /en/thi-truong, review the flagship E1VFVN30 fund page, benchmark funds head-to-head with /en/cong-cu/so-sanh, model creations and redemptions in /en/cong-cu/tich-san-etf, and build your own exposure weights in /en/cong-cu/xay-dung-danh-muc.
Disclaimer: This content is for informational purposes only and does not constitute personal investment advice.