Vietnamese stocks remain attractively valued relative to regional rivals such as Indonesia and the Philippines and VNM reflects those decent valuations. With a trailing 12-month P/E of just under 14 at the end of July, VNM looks inexpensive compared to rival Indonesia and Philippines offerings. The Market Vectors Indonesia Index ETF (NYSEArca: IDX) had a P/E of 16.6 at the end of July, according to Market Vectors data.
Foreign institutional investors have stepped into Vietnamese shares this year due in part to plans by Vietnamese policymakers and the central bank to lift foreign ownership limits across several sectors financial services and materials. Those sectors combine for 40.6% of VNM’s weight.
Market Vectors Vietnam ETF
