Foreign ETFs Net Withdraw VND 4B from Vietnam Stocks in Late April 2026

Overview

Foreign ETFs recorded a net withdrawal of over VND 4 billion from the Vietnamese stock market in the week of April 28-29, 2026, according to data compiled by financial media. The outflow was concentrated in the Fubon FTSE Vietnam ETF and Xtracker Vietnam ETF, while the VanEck Vietnam ETF attracted net inflows. Top stocks sold included VIC, BID, TPB, FRT, and STB.

Key Facts

• Foreign ETFs net withdrew over VND 4 billion in the week of April 28-29, 2026.
• Fubon FTSE Vietnam ETF saw net outflows of VND 111 billion.
• Xtracker Vietnam ETF recorded net outflows of nearly VND 51 billion.
• VanEck Vietnam ETF attracted net inflows of over VND 173 billion.
• Domestic ETFs net withdrew nearly VND 200 million, mainly from VN30-tracking funds.
• In April 2026, total ETF net outflows reached nearly VND 521 billion, bringing year-to-date net outflows to nearly VND 3 trillion.
• Top stocks sold in the week included VIC, BID, TPB, FRT, and STB.

What Happened

According to a report by financial media, foreign ETFs recorded a net withdrawal of over VND 4 billion from the Vietnamese stock market in the week of April 28-29, 2026. The outflow was primarily driven by the Fubon FTSE Vietnam ETF, which saw net redemptions of VND 111 billion, and the Xtracker Vietnam ETF, which recorded net outflows of nearly VND 51 billion. In contrast, the VanEck Vietnam ETF attracted net inflows of over VND 173 billion.

Domestic ETFs also experienced minor net outflows of nearly VND 200 million, mainly from funds tracking the VN30 index, such as VFM VN30 ETF and Kim Growth VN30 ETF. Other domestic ETFs saw no significant changes in fund flows. Additionally, Thai investors sold a net 310,000 depository receipts of VFM VN30 ETF (E1VFVN3001) and 300,000 depository receipts of VFM VNDiamond ETF (FUEVFVND01), equivalent to net outflows of over VND 11 billion and VND 11.2 billion, respectively.

Market Context

The modest net outflow from foreign ETFs comes amid a broader trend of foreign selling on the Ho Chi Minh Stock Exchange (HOSE), where foreign investors net sold over VND 14.32 trillion in April 2026. The VN-Index recently surpassed the 1,900-point mark, but market breadth remained weak, with most stocks declining. Among the top stocks sold, VIC (Vingroup) closed at VND 177 on April 15, up 6.95% from the previous session, while BID (BIDV) closed at VND 40, down 0.12%. TPB (TPBank) closed at VND 16, unchanged, and FRT (FPT Retail) closed at VND 152, up 1.33%.

Strategic Significance

The continued net outflows from foreign ETFs, particularly from the Fubon FTSE Vietnam ETF, suggest that foreign investors remain cautious about Vietnamese equities amid tight credit conditions and macroeconomic uncertainties. The concentration of selling in large-cap stocks such as VIC, BID, and STB indicates a risk-off sentiment, as these stocks are heavily weighted in the FTSE Vietnam Index. However, the net inflows into the VanEck Vietnam ETF, which tracks a different index, may reflect divergent investor strategies or rebalancing. The year-to-date net outflow of nearly VND 3 trillion from ETFs highlights persistent foreign selling pressure, which could weigh on market liquidity and valuations in the near term.

What to Watch

• Weekly ETF flow data for May 2026 to see if the outflow trend accelerates or reverses.
• Foreign trading activity on HOSE, particularly in VIC, BID, TPB, FRT, and STB.
• Any changes in the FTSE Vietnam Index composition or rebalancing that could affect fund flows.
• Macroeconomic indicators such as credit growth and trade balance, which may influence foreign investor sentiment.
• Announcements from major ETF providers regarding any changes to their Vietnam allocations.