ETF Chart of the Day: Vietnam
March 12th at 11:30am by Paul Weisbruch, Street One Financial
An equity ETF that has seen accelerated trading volume recently is Market Vectors Vietnam (NYSEArca: VNM). The fund is unique in its class in delivering access to the Vietnamese local equity market, and the fund has accumulated $287 million in assets since its inception in August of 2009.
Typically trading about 214,000 shares on an average daily basis, the fund has traded more than twice that in several sessions in just the past week as VNM has traded at its highest price levels recently since late last summer.
The ETF holds 32 equities that are designated as generating at least 50% of their revenues in Vietnam, and current top holdings are Vincom Joint Stock Company (9.69%), Vietnam Joint Stock Commercial Bank for Industry and Trade (8.13%), Joint Stock Commercial Bank For Foreign Trade of Vietnam (6.86%), BaoViet Holdings (6.80%), and Petrovietnam Fertilizer and Chemicals (5.53%).
Year to date, the ETF has turned in notable performance, returning 38.42% year to date but it is down 17.19% over the trailing one year period. Since inception, the fund is also down, losing 22.60% so it is very possible that if emerging and frontier markets continue to rally in 2012, that VNM has significant additional upside.
Market Vectors Vietnam ETF