Vietnam ETF Weekly Report (23/10/2026): Foreign Flows on HOSE and Performance Across 26 ETFs

Vietnam's ETF complex closed the 23/10/2026 session with the VN-Index at 1,774.15 pts (+0.77%), trading inside a 1,750.83–1,775.19 range, while the VN30-Index finished at 1,907.09 pts (+0.75%) after printing a 1,911.04 high. Across the 24 HOSE-listed ETFs captured in VCI order-book data, breadth was constructive — 12 advancers, 4 decliners and 8 unchanged — on total ETF turnover of 16.95B VND against 23.31T VND of aggregate AUM. Foreign investors bought 10.02B VND and sold 8.06B VND on the secondary market, a net inflow of +1.96B VND. This report reconciles that headline flow, the intraday VWAP premium/discount structure and the performance dispersion across our 26-vehicle screening universe — the 24 HOSE funds on the VCI tape plus the two offshore-listed Vietnam trackers, VanEck VNM ($17.15, +0.53%) and Xtrackers XFVT (£29.38, +1.54%).

Key Takeaways

• Total HOSE ETF foreign net buying reached +1.96B VND (buy 10.02B / sell 8.06B) on 23/10/2026, but FUEVN100 alone contributed +1.61B VND — roughly 82% of the session's entire net figure — on just 89,300 units and 711B VND of AUM.
• Diamond exposure continues to absorb the largest multi-session accumulation: FUEVFVND records +24.84B VND over five sessions, while the VN30 bucket bleeds (E1VFVN30 −6.25B, FUESSV30 −0.27B, FUEMAV30 −0.10B, partly offset by FUEKIV30 +1.09B).
• FUEVN100 was the standout performer at +2.44% on the day and +4.00% on the week, closing 1.52% above its 24,823 VND VWAP, while FUEVFVND was the only large-cap fund to decline (−0.12%) despite leading five-session foreign inflows.

Market Tape: VN-Index Closes at 1,774.15 as ETF Breadth Turns Positive

The index gain of +0.77% was matched by a VN30 advance of +0.75%, indicating that beta delivery came from large caps rather than a narrow mid-cap rally. For ETF investors the more useful signal sits beneath the index print: the 12/4/8 advance-decline split means three-quarters of HOSE-listed ETFs held or improved their price, which is a genuinely broad tape rather than a two-fund story.

Breadth and Turnover in the HOSE ETF Block

Turnover of 16.95B VND is thin relative to the 23.31T VND asset base, implying a market-wide ETF velocity of roughly 0.07% per session. Liquidity is heavily concentrated: using intraday VWAP multiplied by volume from the VCI tape, E1VFVN30 traded approximately 7.85B VND (231,000 units at 33,986 VND), FUEVFVND approximately 3.24B VND (99,000 units at 32,690 VND), FUESSVFL approximately 2.25B VND (78,300 units at 28,734 VND), FUEVN100 approximately 2.22B VND (89,300 units at 24,823 VND) and FUESSV30 approximately 1.20B VND (50,300 units at 23,789 VND). Those five vehicles account for roughly 99% of the day's total ETF value traded. By contrast, FUEKIV30 printed 400 units against a 2,300B VND asset base and FUEKIVFS printed zero units — size without liquidity, which is a material execution constraint for any institutional order larger than a few hundred million VND.

AUM Concentration: Two Funds Hold 71.2% of the Market

FUEVFVND (10,640B VND) and E1VFVN30 (5,956B VND) together represent approximately 71.2% of the 23.31T VND total. Adding FUEKIV30 (2,300B), FUEVN100 (711B) and FUESSVFL (615B) takes the top five to approximately 86.8%. The remaining 19 funds share roughly 3.1T VND. For allocators, this means benchmark-aware execution and best-execution analysis should be run at the individual-fund level, not on a market average — a full fund-by-fund view is available on the etf.com.vn market dashboard.

Foreign Flows on HOSE: +1.96B VND Net, but the Headline Is Misleading

According to HOSE / VCI order-book data on etf.com.vn, foreign investors were net buyers of +1.96B VND across HOSE-listed ETFs on 23/10/2026. The number is accurate but poorly representative: it is the arithmetic sum of +0.51B (E1VFVN30), +1.61B (FUEVN100), +0.12B (FUESSV30), +0.11B (FUEMAV30), +0.03B (FUEKIV30), +0.03B (FUEKIVND) and −0.42B (FUEVFVND), with FUESSVFL at −0.04B and the remainder flat.

FUEVN100 Delivers 82% of the Session's Net Foreign Buying

A single VN100-tracking fund generated the overwhelming majority of net foreign demand. FUEVN100's +1.61B VND flow against 2.22B VND of turnover implies that foreign accounts were a dominant counterparty in that book on the day, and the fund's +1.52% premium to its 24,823 VND VWAP confirms that buying pressure was persistent through the session rather than concentrated at the auction. This is the cleanest example this week of price discovery being driven by identifiable foreign demand rather than domestic rotation.

Five-Session View: Diamond Accumulation vs VN30 Distribution

Over five sessions the divergence is sharper than the single-day tape. FUEVFVND recorded +24.84B VND of net foreign buying — by far the largest in the complex — while E1VFVN30 gave back −6.25B, FUESSVFL −3.35B, FUESSV30 −0.27B, FUESSV50 −0.23B and FUEMAV30 −0.10B. Aggregated by underlying basket (computed from the VCI tick-level foreign net data), Diamond funds absorbed +24.97B VND while VN30 funds shed −5.53B VND.

Secondary Market vs Primary Market: A Necessary Distinction

Every figure above is secondary-market net trading value on HOSE — the difference between foreign buy and sell value in the exchange order book. It is not a primary-market creation/redemption flow, and the two should never be conflated: an ETF can see heavy foreign secondary buying with zero change in units outstanding if the shares are sourced from domestic holders, and conversely a large creation can occur with minimal exchange-reported foreign flow. The VCI dataset used here does not disclose creation/redemption baskets, and this report deliberately refrains from estimating them. Fund-level product specifications and unit mechanics are documented on the etf.com.vn product pages.

Performance Dispersion Across the 26-ETF Universe

The week's dispersion was driven by basket construction rather than by broad-market direction. Financials-led and broadly-diversified baskets outperformed; Diamond and mid-cap baskets lagged on a year-to-date basis despite a constructive five-day window.

Leaders and Laggards

FUEVN100 topped the table at +2.44% on the day and +4.00% on the week, and its YTD of −1.56% is the shallowest drawdown among the broad-market vehicles — a full 3.10 percentage points ahead of E1VFVN30 (−4.66%). FUESSVFL gained +1.83% and is the only HOSE ETF with a positive one-month return (+0.83%), consistent with its financial-heavy basket where TCB (14.8%), ACB (14.2%), MBB (13.6%), VPB (12.9%) and STB (11.4%) dominate. At the other end, FUEDCMID's YTD of −20.32% and FUEVFVND's −14.10% reflect sustained de-rating in the Diamond and mid-cap segments; FUEKIVND, a smaller Diamond replica, sits at −14.95%.

Premium to Intraday VWAP as an Execution Signal

Closing 1.25% above VWAP on 231,000 units (E1VFVN30) and 1.52% above VWAP on 89,300 units (FUEVN100) both indicate that the marginal buyer was aggressive into the close — a pattern consistent with institutional accumulation rather than retail momentum chasing. FUEIP100 offers the counter-example: a −6.30% print on just 1,800 units, closing 3.05% below its 11,512 VND VWAP, on a 56B VND fund. That is a microstructure event (a wide quote gap on negligible volume), not a fundamental repricing, and should be excluded from any performance attribution. FUEKIVFS and FUESSV50 were unchanged or marginally below VWAP on zero-to-500 unit prints.

Positioning: What the Data Implies for Institutional Allocators

The structural read is a rotation in progress rather than a directional call. Foreign capital is adding Diamond and broad-market beta over five sessions while trimming VN30 exposure, even as the VN30 index itself outperforms on a one-week basis (+1.81% to +3.29% across VN30 trackers). That combination — price strength alongside net foreign distribution — is the classic signature of domestic institutional absorption of foreign selling, and it argues for monitoring the flow series rather than extrapolating from index returns.

Core VN30 Exposure

Among VN30 trackers, E1VFVN30 remains the liquidity anchor at 231,000 units and 5,956B VND AUM, closing +1.27% at 34,410 VND, yet its five-session foreign figure of −6.25B VND is the largest outflow in the complex. Allocators with a core VN30 mandate should weigh that persistent distribution against the fund's unchanged tracking mechanics; full details sit on the E1VFVN30 product page.

Satellite: Diamond and FinLead

The Diamond basket's +24.97B VND five-session absorption is a conviction signal, but FUEVFVND's −14.10% YTD and −0.12% daily print show that flow and price have decoupled — foreign buying is being met by domestic supply. FUEVFVND's 10,640B VND AUM makes it the largest single vehicle, so its performance is effectively the market's benchmark for the Diamond factor; see the FUEVFVND product page. For financials beta, FUESSVFL's +1.83% daily and +0.83% monthly returns are the only positive one-month reading on the board, though its −3.35B VND five-session foreign flow suggests the strength was domestically funded. Side-by-side fee, tracking and AUM comparison is available in the ETF comparison tool, and basket-level exposure checks can be run through the constituent lookup.

Frequently Asked Questions

1. How much did foreign investors net buy in Vietnam ETFs on 23/10/2026?
+1.96B VND on the HOSE secondary market, comprising 10.02B VND of buys against 8.06B VND of sells across the 24 listed funds. FUEVN100 (+1.61B VND) supplied roughly 82% of that net figure, while FUEVFVND (−0.42B VND) was the largest single detractor.

2. Which Vietnam ETF attracted the most foreign capital over five sessions?
FUEVFVND, with +24.84B VND of net foreign buying, followed by FUEVN100 at +1.65B VND and FUEKIV30 at +1.09B VND. The largest five-session outflow was E1VFVN30 at −6.25B VND, followed by FUESSVFL at −3.35B VND.

3. Why did FUEVN100 outperform the VN-Index by such a wide margin?
FUEVN100 closed +2.44% versus the VN-Index's +0.77% — a 1.67 percentage-point spread — and ended 1.52% above its 24,823 VND intraday VWAP on 89,300 units. It also carries the shallowest YTD drawdown among broad-market funds at −1.56%, versus −4.66% for E1VFVN30 and −14.10% for FUEVFVND.

For full fund-level flow, AUM and pricing screens, start with the Vietnam ETF market overview and build a custom allocation in the portfolio builder.

Disclaimer: This content is for informational purposes only and does not constitute personal investment advice.