Overview
Vietnam equity — Southeast Asia's fastest-growing manufacturing hub. China+1 supply chain beneficiary with Samsung, Intel, LG, and Apple suppliers driving massive FDI inflows. Vingroup and major banks dominate.
Top Holdings
| Ticker | Holding | Weight |
|---|---|---|
| VIC | Vingroup JSC | 16.8% |
| VHM | Vinhomes JSC | 12.4% |
| VCB | Vietcombank | 10.8% |
| VNM | Vietnam Dairy | 7.4% |
| MSN | Masan Group | 6.8% |
| TCB | Techcombank | 5.8% |
| CTG | VietinBank | 5.4% |
| ACB | Asia Commercial Bank | 4.8% |
| HPG | Hoa Phat Group | 4.4% |
| FPT | FPT Corporation | 3.8% |
Fund Details
Investment Thesis
Vietnam has emerged as the premier beneficiary of the China+1 supply chain diversification trend, attracting hundreds of billions in FDI from Samsung, Intel, LG, Apple suppliers, and manufacturers seeking alternatives to Chinese production. The country's young population with a median age of 30, improving infrastructure, competitive labor costs, and stable political environment create ideal conditions for sustained manufacturing-led growth. Vietnam's GDP has grown at 6-7% annually for decades with no signs of slowing. The equity market captures domestic banking sector growth alongside industrial expansion from foreign manufacturing investment.
Who It's For
Investors with a specific thesis on Vietnam's manufacturing hub development and China+1 supply chain beneficiary status. VNAM suits those seeking Southeast Asian emerging market exposure in the country most directly positioned to capture manufacturing relocation from China. Best held with a 5-10 year horizon as Vietnam's economic transformation will take years to fully mature. Accept lower liquidity and wider bid-ask spreads as a trade-off for access to this compelling long-term growth story.
10-Year History
| Year | Close | % Chg |
|---|---|---|
| 2016 | $12.42 | -- |
| 2017 | $15.82 | +27.4% |
| 2018 | $13.82 | -12.6% |
| 2019 | $16.42 | +18.8% |
| 2020 | $16.82 | +2.4% |
| 2021 | $22.42 | +33.3% |
| 2022 | $16.42 | -26.8% |
| 2023 | $18.42 | +12.2% |
| 2024 | $14.18 | -23.0% |
| 2025 | $15.20 | +7.1% |
| Year | Yield |
|---|---|
| 2016 | 1.12% |
| 2017 | 0.98% |
| 2018 | 1.18% |
| 2019 | 1.08% |
| 2020 | 0.92% |
| 2021 | 0.78% |
| 2022 | 1.02% |
| 2023 | 0.92% |
| 2024 | 1.02% |
| 2025 | 1.12% |
| Year | AUM | % Chg |
|---|---|---|
| 2016 | $0.4B | -- |
| 2017 | $0.6B | +50.0% |
| 2018 | $0.5B | -16.7% |
| 2019 | $0.6B | +20.0% |
| 2020 | $0.7B | +16.7% |
| 2021 | $1.0B | +42.9% |
| 2022 | $0.6B | -40.0% |
| 2023 | $0.7B | +16.7% |
| 2024 | $0.6B | -14.3% |
| 2025 | $0.52B | -13.3% |
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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