VanEck Vietnam ETF

VNM

Market cap $522M

Asian currencies consolidated against the dollar before first decision by a FOMC led by Chairman Kevin Warsh later.

VanEck Vietnam ETF which covers 58 Vietnamese incorporated stocks, the bulk of which are mid-caps, is down by -7% YTD and is underperforming other EMs and global markets. FTSE Russell's EM reclassification, which goes live in a phased manner from Sep 21st, should prompt higher foreign institutional interest. However, the overall macro position has taken a turn for the worse, and this could also cap interest in the intermediate term.

A heatwave gripping ​Vietnam has already placed immense pressure on the national power grid, the country's industry ‌ministry said, adding the problem could get worse as the El Nino weather pattern is forecast to return from July.

Despite a downward trend for several weeks at the beginning of the year, in spring 2026 the S&P 500 has once again shot upward, achieving fresh new all-time highs in the process. Still, even the most bullish investors may be wondering how long the trend can continue, given the prolonged war in Iran and its impacts on the global oil market—not to mention preexisting factors like inflation, aggressive interest rate hikes, and more.

CNBC's Dan Murphy delves into the Middle East's investment flows and provide insights on the global energy hub and the vast amounts of capital originating from the region on Access Middle East (12:00 – 13:00 SIN/HK). Please note this livestream is only available in Europe and India.

Countries around the world have scrambled to cope with the fallout of the energy shock from the Iran war. This comes as the Iran war stretches into its third week.

VanEck Vietnam ETF offers diversified exposure to Vietnamese equities, with significant weights in Financials, Real Estate, and Industrials. VNM's forward P/E of 14.22x and modeled IRR of 3.03% suggest current valuations are unattractive relative to local risk and return prospects. Vietnam's robust nominal GDP growth and supportive macro context are offset by high stock beta and a negative implied equity risk premium.

ASEAN's dividend opportunity is underpinned by diverse and evolving market characteristics. The FTSE ASEAN Index, which captures the large- and mid-cap companies listed in the five ASEAN markets - Singapore, Malaysia, Indonesia, Thailand and Philippines - has delivered a 10-year average dividend yield of 3.57%. Across multiple market cycles over the past 25 years, a back-test of the FTSE ASEAN ex REITs Target Dividend Index's strategy showed notable resilience during market downturns and lower overall volatility compared with the broader ASEAN market.

Vietnam has rapidly closed the gap with EM ASEAN peers, surpassing the Philippines in GDP per capita and equity market capitalisation, and moving closer to Indonesia. Vietnam's economic transformation has been driven largely by manufacturing and its growing role in the global tech supply chain.

NEW YORK--(BUSINESS WIRE)--VanEck announced today the 2025 annual distributions per share for its VanEck equity exchange-traded funds.