So sánh ETF VN30 và VN Diamond (October 2026): Long-Term Fund Flows and the Tracking Error Challenge in Vietnam's Domestic ETFs
Vietnam's two flagship domestic ETFs are both in negative territory for 2026, but they are not in the same place. Based on Yahoo Finance data as of 15/10/2026 — reflecting the prior session's closing prices, with Vietnam's market not yet open when the figures were pulled — E1VFVN30 (VFMVN30 ETF) stood at 33,250 VND, down 4.34% over one month and 7.23% year to date. FUEVFVND (DCVFMVN Diamond ETF) stood at 32,200 VND, down 4.62% over one month and 15.93% year to date.
Any so sánh ETF VN30 và VN Diamond has to explain how the two funds can be separated by less than half a percentage point over the past month, yet by roughly 8.7 percentage points since the start of the year. That gap puts the spotlight squarely on two questions investors keep asking: what the fund flows actually look like, and why funds tracking related exposures do not deliver identical returns — the tracking error problem.
1. So sánh ETF VN30 và VN Diamond: where both funds stand in October 2026
The headline figures for the two most heavily followed domestic ETFs — the starting point of any so sánh ETF VN30 và VN Diamond — per the same data set:
| Ticker | Name | Price | 1-Day | 1-Week | 1-Month | YTD | Volume |
|---|---|---|---|---|---|---|---|
| E1VFVN30 | VFMVN30 ETF | 33,250 VND | -0.92% | -2.11% | -4.34% | -7.23% | 257K units |
| FUEVFVND | DCVFMVN Diamond ETF | 32,200 VND | +0.56% | -0.56% | -4.62% | -15.93% | 471K units |
E1VFVN30: broad VN30 exposure at 33,250 VND
E1VFVN30 traded 257K units in the session referenced, with a one-day move of -0.92% and a one-week move of -2.11%. Its year-to-date return of -7.23% makes it the weaker of the two on the short horizon (one month) and the stronger of the two on the long horizon (year to date). For investors using the fund as a core VN30 allocation, the relevant observation is that the drawdown has been persistent rather than concentrated: negative across the one-week, one-month and year-to-date windows in the data set.
Full product details are available on the E1VFVN30 product page.
FUEVFVND: Diamond exposure at 32,200 VND, with heavier trading
FUEVFVND recorded 471K units traded — roughly 1.8 times the volume of E1VFVN30 — and was the only one of the two to post a positive one-day move, at +0.56%. Its one-week figure of -0.56% was also shallower than E1VFVN30's -2.11%. Against that, the year-to-date figure of -15.93% is the single largest decline among the domestic funds in the table. The underlying index is the VN Diamond basket, whose constituent rules differ from the VN30 in ways that matter for both flow and return.
See the fund's details on the FUEVFVND product page.
2. Fund flows: what the volume numbers do — and do not — say
Trading volume is not the same as fund flow
This is the most common misreading in ETF coverage, and it matters for how investors interpret the current data set. In any so sánh ETF VN30 và VN Diamond, the first correction is definitional. Trading volume — 471K units for FUEVFVND, 257K units for E1VFVN30 — measures how many ETF shares changed hands on the exchange. True fund flow is a different measurement entirely: it is the change in shares outstanding multiplied by net asset value, driven by creation and redemption activity between authorised participants and the fund.
The data set used here does not contain creation/redemption figures or official fund flow data for either fund. That means the correct description of FUEVFVND's 471K units is "higher trading volume", not "strong capital inflow". A high-volume session can reflect secondary-market rotation between two holders and produce no change in shares outstanding at all. Readers looking for confirmed flow direction should treat the volume column as an activity indicator, and wait for official fund flow reporting — see the Vietnam ETF hub and the ETF comparison section for updates — before drawing conclusions about money entering or leaving either product.
What the data can and cannot settle
What the data set does settle is relative price behaviour: E1VFVN30 has held up better year to date, FUEVFVND has traded more heavily and moved more sharply. What it cannot settle is whether those moves were driven by investors adding or removing capital. Until creation/redemption data is published, any so sánh ETF VN30 và VN Diamond that treats volume as flow is reading the wrong column.
3. Tracking error: the part of the comparison that persists
Tracking error is where a so sánh ETF VN30 và VN Diamond becomes more than a price check. Two funds can hold related Vietnamese equity exposure and still diverge because of differences in index construction, constituent caps, rebalancing dates, cash drag, management fees and foreign-ownership constraints. Those structural differences do not reverse when the market recovers; they compound. For investors choosing between E1VFVN30 and FUEVFVND, the October 2026 numbers are a snapshot of price, not a verdict on implementation quality — and the tracking error record is the measure to watch next.