ETF Chart of the Day: Vietnam

August 29th at 9:40am by Paul Weisbruch, Street One Financial

With most global markets suffering through doldrums the past few weeks and with the VIX (CBOE Volatility Index) still trading below its 50 day moving average, one single country ETF that has seen enormous activity on its most recent sell-off is Market Vectors Vietnam (NYSEArca: VNM).

The country’s benchmark index, the VN Index, has now shed more than 20% since its peak on May 8th of this year as two banking officials were recently arrested and there are fears that the country’s financial system may be corrupt and unstable.

Currently, VNM is the only way to play the country of Vietnam in terms of its equity market, and the fund itself is reasonably popular, trading more than 114,000 shares on an average daily basis.

The fund contains 33 separate equities that are based in Vietnam, and more than 57% of the overall fund assets are spread across only the top 10 holdings.

Top weightings include Baoviet Holdings (8.50%), Vingroup JSC (7.14%), and Joint Stock Commercial Bank for Foreign Trade of Vietnam (6.95%).

Despite the recent drubbing in price, VNM is still up 14.23% year to date, but it has staggered 36.13% since the ETF’s inception date in August of 2009.

Market Vectors Vietnam

For more information on Street One ETF research and ETF trade execution/liquidity services, contact Paul Weisbruch at pweisbruch@streetonefinancial.com.

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