So sánh ETF VN30 và VN Diamond: Which Strategy Is Leading Vietnamese Fund Flows in September 2026?
Vietnam's two best-known large-cap ETF strategies are diverging sharply this month. Based on trading data as of 28/09/2026, E1VFVN30 (VFMVN30 ETF) closed the prior session at 34,480 VND with 438K units traded and a year-to-date return of -4.13%, while FUEVFVND (DCVFMVN Diamond ETF) closed at 33,040 VND on 265K units with a year-to-date return of -13.73%. This article compares the two strategies on price performance, exchange liquidity and tracking considerations — and is explicit about what the available data can and cannot say about true fund flows.
New to these products? Start with our explainers on ETF là gì, VN30 ETF là gì và VN Diamond ETF là gì.
Tóm tắt nhanh: so sánh ETF VN30 và VN Diamond (dữ liệu 28/09/2026)
- Hiệu suất: E1VFVN30 -4.13% YTD so với FUEVFVND -13.73% YTD.
- Thanh khoản: E1VFVN30 khớp 438K đơn vị, FUEVFVND 265K đơn vị, FUESSV30 16K đơn vị.
- Cảnh báo dữ liệu: khối lượng khớp lệnh trên sàn KHÔNG phải dòng tiền tạo lập/hủy quỹ.
- Bài so sánh ETF VN30 và VN Diamond này chỉ đánh giá những gì đo lường được: hiệu suất giá và thanh khoản thứ cấp.
1. First, what 'fund flow' actually means
Trading volume is not creation or redemption flow
In ETF terminology, fund flow refers specifically to the net creation or redemption of fund shares — the change in shares outstanding multiplied by net asset value. It is not the same thing as trading volume on the exchange, and it is not the same as foreign net buying or selling in the underlying stocks. The dataset used for this article (Yahoo Finance, pulled 28/09/2026) contains closing prices, returns across four windows and exchange trading volume. It does not contain creation/redemption data. For that reason, this comparison does not claim that capital 'flowed into' or 'flowed out of' any fund. It compares what is measurable: exchange trading activity and price performance. For the arithmetic behind it, see our guide to dòng tiền quỹ ETF.
Session context
All figures below reflect the prior session's closing prices as of 28/09/2026. Vietnam's market had not yet opened when the data was collected, so the readings should be treated as the last completed session's closing values rather than live quotes.
2. So sánh ETF VN30 và VN Diamond: the head-to-head numbers
Any so sánh ETF VN30 và VN Diamond has to start with the raw data, so here is the full table from the dataset.
| Ticker | Name | Price | 1-Day | 1-Week | 1-Month | YTD | Volume |
|---|---|---|---|---|---|---|---|
| E1VFVN30 | VFMVN30 ETF | 34,480 VND | -0.94% | -2.54% | -3.00% | -4.13% | 438K units |
| FUEVFVND | DCVFMVN Diamond ETF | 33,040 VND | -2.02% | -2.28% | -5.55% | -13.73% | 265K units |
| FUESSV30 | SSIAM VN30 ETF | 24,110 VND | -1.75% | -2.35% | -3.87% | -4.70% | 16K units |
Returns: the VN30 trackers lead in three of four windows
E1VFVN30 fell 0.94% on the day, 2.54% over the week, 3.00% over the month and 4.13% year-to-date. FUEVFVND fell 2.02% on the day, 2.28% over the week, 5.55% over the month and 13.73% year-to-date. The one-week window is the only one in which the Diamond tracker held up marginally better (-2.28% versus -2.54%). The monthly and year-to-date gaps, however, are wide: -5.55% versus -3.00% over one month, and -13.73% versus -4.13% year-to-date.
Liquidity: E1VFVN30 traded 438K units, FUEVFVND 265K
On the exchange, E1VFVN30 recorded 438K units changing hands in the session against 265K units for FUEVFVND. The third VN30-tracking fund in the table, FUESSV30, recorded 16K units. These are secondary-market trading figures. They describe how easy it is to buy or sell units on the exchange, not how much money entered or left the funds themselves — that distinction is central to reading the headline question accurately. See our primer on thanh khoản ETF for how to read depth alongside headline volume.
3. The wider VN30 ETF field
The wider VN30 field is the other half of any so sánh ETF VN30 và VN Diamond: two funds in the table track the same index, yet they trade nothing alike.
FUESSV30: same index, smaller footprint
FUESSV30 closed at 24,110 VND, down 1.75% on the day, 2.35% over the week, 3.87% over the month and 4.70% year-to-date, on 16K units of volume. Its year-to-date figure of -4.70% sits between E1VFVN30's -4.13% and FUEVFVND's -13.73%, which is broadly consistent with tracking the same VN30 index as E1VFVN30 while carrying a much smaller liquidity pool.
FUEKIVFS: the best YTD in the VN30 group, but no volume
FUEKIVFS (KIM Growth VN30 ETF) closed with the strongest year-to-date figure among the VN30-tracking funds in this dataset, but no exchange volume was recorded for it. A missing volume field usually means the fund did not trade in the session captured, or that the data provider did not report it. Either way, a fund with no recorded turnover cannot be assessed on execution quality, so it is excluded from the liquidity comparison above.
What the VN30 field tells you
Three funds, one index, three very different liquidity profiles. Index membership alone does not make two trackers interchangeable: the fund with the deepest order book is usually the one that costs least to trade in size.
4. Why the two strategies diverge
VN30: the 30 largest and most liquid names on HOSE
The VN30 index selects the 30 largest and most liquid stocks on HOSE by market capitalisation and trading turnover, rebalanced semi-annually. It is a pure size-and-liquidity screen. Both E1VFVN30 and FUESSV30 replicate it, which is why their one-month and year-to-date returns sit relatively close together (-3.00% versus -3.87% over one month, -4.13% versus -4.70% YTD).
VN Diamond: a foreign-ownership-room screen
The VN Diamond index starts from the VN100 universe and keeps companies that have hit or are close to their foreign ownership limit (FOL), excluding those that still have room for foreign buyers. The resulting rổ cổ phiếu VN Diamond is smaller and far more concentrated than VN30, which makes its return series structurally different rather than simply 'worse' or 'better'.
5. Tracking considerations when you so sánh ETF VN30 và VN Diamond
Three things matter when judging how closely each fund follows its own index:
- Tracking difference: the gap between the fund's NAV return and index return, net of fees. Measure it over 6-12 months, not one session.
- Bid-ask spread and order-book depth: a 438K-unit session is easier to trade in size than a 16K-unit session. Look past headline volume.
- Management fees and rebalancing costs: see our note on chi phí quản lý quỹ ETF — small fee gaps compound over years.
For the mechanics, read more on tracking error and why it behaves differently for a 30-stock index versus a concentrated, FOL-driven basket.
6. What the data can and cannot tell you
Can say: over one month and year-to-date, the VN30-tracking funds in this dataset lost less than the VN Diamond tracker, and E1VFVN30 has the deepest recorded exchange turnover of the three.
Cannot say: whether investors created or redeemed shares in either fund, whether capital 'entered' VN30 strategies this month, or what next month's returns will be. Without creation/redemption data, any claim about which strategy is 'leading fund flows' is an inference from trading volume, not a measurement. Treat headline comparisons of this kind accordingly.
Câu hỏi thường gặp khi so sánh ETF VN30 và VN Diamond
Thanh khoản cao có nghĩa là dòng tiền vào quỹ lớn?
Không. Khối lượng khớp lệnh chỉ phản ánh giao dịch thứ cấp giữa các nhà đầu tư với nhau. Dòng tiền thật chỉ hiện ra qua số lượng chứng chỉ quỹ được tạo lập hoặc hủy trong ngày — dữ liệu không có trong bộ dữ liệu dùng cho bài này.
Vì sao FUEVFVND giảm sâu hơn E1VFVN30 trong năm 2026?
Hai quỹ theo dõi hai chỉ số khác nhau. VN Diamond tập trung vào cổ phiếu đã cạn room ngoại nên biến động không nhất thiết trùng với VN30. Chênh lệch -13.73% so với -4.13% YTD phần lớn phản ánh khác biệt về rổ cổ phiếu, không phải chất lượng quản lý quỹ.
Nên dùng chỉ tiêu nào để so sánh ETF VN30 và VN Diamond?
Bốn chỉ tiêu: tracking difference sau phí (6-12 tháng), spread và độ sâu sổ lệnh, thanh khoản bình quân 20 phiên, và chi phí quản lý. Khối lượng của một phiên đơn lẻ không đủ để kết luận.
Kết luận: so sánh ETF VN30 và VN Diamond cho thấy điều gì?
Trong phiên dữ liệu 28/09/2026, nhóm ETF theo dõi VN30 (E1VFVN30, FUESSV30) có hiệu suất 1 tháng và YTD tốt hơn FUEVFVND, đồng thời E1VFVN30 có thanh khoản khớp lệnh cao nhất (438K đơn vị so với 265K). Nhưng cần nhắc lại: đây là so sánh về giá và thanh khoản thứ cấp, không phải đo lường dòng tiền tạo lập/hủy quỹ. Nhà đầu tư nên đối chiếu thêm báo cáo NAV và số chứng chỉ quỹ lưu hành do công ty quản lý quỹ công bố trước khi kết luận về dòng tiền.
Miễn trừ trách nhiệm: Nội dung mang tính thông tin, không phải khuyến nghị mua/bán chứng khoán. Dữ liệu giá và khối lượng lấy từ Yahoo Finance tại thời điểm 28/09/2026 và có thể thay đổi.