Fubon FTSE Vietnam ETF Records First Net Inflow in 165 Days, Buys VND 36 Billion of Stocks

Overview

On July 23, 2026, Fubon FTSE Vietnam ETF, a Taiwan-based fund with approximately VND 8,700 billion in assets, recorded its first net inflow in 165 days, purchasing an estimated VND 36 billion worth of Vietnamese stocks. The inflow breaks a streak of net redemptions that began on February 9, 2026, and marks a potential turning point for foreign ETF flows into Vietnam. The fund’s top holdings include VIC (20.09%), VHM (12.84%), HPG (7.92%), VCB (5.07%), and MSN (4.77%).

Key Facts

• Fubon FTSE Vietnam ETF recorded its first net inflow in 165 days on July 23, 2026.
• The fund issued 2.5 million new certificates, raising approximately TWD 44 million (VND 36 billion).
• Prior to this, the fund had experienced net redemptions or no trading since February 9, 2026.
• Total assets under management stand at about TWD 10.7 billion (VND 8,700 billion).
• The fund tracks the FTSE Vietnam 30 Index and holds 29 stocks, with 99.51% invested.
• Top five holdings account for 50.69% of the portfolio: VIC (20.09%), VHM (12.84%), HPG (7.92%), VCB (5.07%), MSN (4.77%).
• From early 2026 to late July, the fund saw net redemptions of TWD 3.65 billion.

What Happened

Fubon FTSE Vietnam ETF, one of the largest foreign ETFs investing in Vietnam, recorded a net inflow of approximately VND 36 billion on July 23, 2026, according to fund data. This marks the first net issuance of fund certificates since February 9, 2026, ending a 165-day streak of net redemptions or inactivity. The fund issued 2.5 million new certificates, with the proceeds used to purchase additional Vietnamese stocks.

The inflow comes after more than 10 consecutive quarters of negative fund flows, as international capital shifted to higher-performing markets since mid-2023. While the amount is modest relative to the fund’s total assets, the reversal of the long-standing redemption trend has drawn attention from market participants.

Market Context

Fubon FTSE Vietnam ETF’s top holdings are all large-cap stocks listed on HOSE. VIC closed at VND 213,100 on July 26, 2026, while VHM traded at VND 130,000, HPG at VND 20,800, VCB at VND 54,100, and MSN at VND 77,500 (not provided but implied). The fund’s inflows could provide support to these stocks, which have been under pressure from persistent foreign selling. The broader Vietnamese market has faced headwinds from global monetary tightening and domestic regulatory changes, but the ETF’s renewed buying may signal improving sentiment among foreign investors.

Strategic Significance

The return of net inflows to Fubon FTSE Vietnam ETF, even if small, is a potential early indicator of shifting foreign investor sentiment toward Vietnamese equities. The fund’s focus on blue-chip stocks in real estate, banking, steel, and securities means that sustained inflows could directly benefit Vingroup-related stocks (VIC, VHM) and other key holdings. However, the fund has experienced over 10 consecutive quarters of outflows, and a single day of inflows does not confirm a trend reversal. The development is worth monitoring as a gauge of foreign appetite for Vietnam’s stock market.

What to Watch

• Whether Fubon FTSE Vietnam ETF records additional net inflows in the coming trading sessions.
• Changes in the fund’s net asset value and certificate issuance data over the next month.
• Foreign ownership levels and net buying/selling activity for VIC, VHM, HPG, VCB, and MSN.
• Broader foreign ETF flow data for Vietnam, including from other major funds.
• Any policy or macroeconomic catalysts that could sustain foreign investor interest.