MARKET VECTORS VIETNAM ETF $16.84 (New York symbol VNM; buy or sell through brokers) holds shares of Vietnamese companies or foreign firms that get a significant amount of their revenue from Vietnam.
The ETF’s top 10 holdings are Vietin Commercial Bank, 8.1%; Vincom Corp. (real estate), 7.4%; PetroVietnam Fertilizer and Chemical, 7.2%; Talisman Energy (a Canadian producer with interests off Vietnam’s coast), 6.5%; JSC Bank, 5.9%; Premier Oil (a U.K.-based producer with a 53.1% stake in the huge Chim Sao oil project off southern Vietnam), 5.3%; Oil & Natural Gas Corp. (an India-based oil and gas company), 5.1%; Baoviet Holdings (finance and insurance), 4.7%; Gamuda Bhd (a Malaysiabased construction group), 4.6%; and Charoen Pokp-hand Foods (a Thailand-based food conglomerate),4.2%.
Market Vectors Vietnam ETF’s industry breakdown is as follows: Financials, 44.0%; Energy, 26.4%; Industrials, 11.2%; Materials, 7.9%; Consumer Discretionary, 4.3%; Consumer Staples, 4.1%; and Utilities, 2.2%. Its expense ratio is 0.76%.
The Market Vectors Vietnam ETF cuts its risk by investing part of its assets indirectly in Vietnam by purchasing shares of companies that are based outside the country but still do business there. That’s a better approach than adding thinly traded or illiquid shares of smaller Vietnamese firms.
Investing in Vietnam entails above-average political risk. Still, the long-term outlook for the Vietnamese economy is positive, and the country is making steady progress on political and economic reforms.
Market Vectors Vietnam ETF is a buy for aggressive investors.
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