Overview
Thai equity via PTT Group, Kasikorn Bank, SCG, and Airports of Thailand. Energy, banking, and tourism infrastructure. 2025 headwinds from economic slowdown and political uncertainty weighed on an otherwise resilient market.
Top Holdings
| Ticker | Holding | Weight |
|---|---|---|
| PTT | PTT PLC | 16.8% |
| KBANK | Kasikornbank | 12.4% |
| BBL | Bangkok Bank | 8.4% |
| SCC | Siam Cement Group | 7.8% |
| CPALL | CP All PLC | 6.8% |
| SCB | Siam Commercial Bank | 6.4% |
| GULF | Gulf Energy | 5.8% |
| BDMS | Bangkok Dusit Medical | 5.4% |
| AOT | Airports of Thailand | 4.8% |
| PTTGC | PTT Global Chemical | 4.4% |
Fund Details
Investment Thesis
Thailand's equity market offers exposure to Southeast Asia's second-largest economy with a unique combination of energy infrastructure through PTT Group, high-quality banking through Kasikornbank, healthcare through Bangkok Dusit Medical, and tourism infrastructure through Airports of Thailand. Thailand receives over 35 million tourists annually generating significant GDP impact, and post-COVID tourism recovery continues to drive airport capacity expansion. The automotive manufacturing base with Toyota and Honda plants provides export diversification beyond tourism and agriculture.
Who It's For
Investors seeking Southeast Asian equity exposure through Thailand's diversified upper-middle-income economy with tourism, energy, and industrial manufacturing drivers. THD suits those who want ASEAN equity exposure in a market with stronger institutional framework than frontier alternatives. The tourism sector exposure makes THD sensitive to global travel demand cycles. Best as part of a broader ASEAN or Southeast Asian equity allocation.
10-Year History
| Year | Close | % Chg |
|---|---|---|
| 2016 | $54.42 | -- |
| 2017 | $66.42 | +22.1% |
| 2018 | $56.42 | -15.1% |
| 2019 | $66.42 | +17.7% |
| 2020 | $60.42 | -9.0% |
| 2021 | $68.42 | +13.2% |
| 2022 | $60.42 | -11.7% |
| 2023 | $62.42 | +3.3% |
| 2024 | $61.82 | -1.0% |
| 2025 | $57.84 | -6.5% |
| Year | Yield |
|---|---|
| 2016 | 3.18% |
| 2017 | 2.92% |
| 2018 | 3.28% |
| 2019 | 3.02% |
| 2020 | 2.72% |
| 2021 | 2.48% |
| 2022 | 2.98% |
| 2023 | 2.78% |
| 2024 | 2.98% |
| 2025 | 3.18% |
| Year | AUM | % Chg |
|---|---|---|
| 2016 | $0.5B | -- |
| 2017 | $0.6B | +20.0% |
| 2018 | $0.5B | -16.7% |
| 2019 | $0.5B | 0.0% |
| 2020 | $0.4B | -20.0% |
| 2021 | $0.5B | +25.0% |
| 2022 | $0.4B | -20.0% |
| 2023 | $0.4B | 0.0% |
| 2024 | $0.4B | 0.0% |
| 2025 | $0.32B | -20.0% |
Historical figures are ETFHub estimates modelled from asset-class return patterns and may differ from official fund records. Data as of August 2026.
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