Investors seeking momentum may have VanEck Vectors Vietnam ETF (HM:VNM) on radar now. The fund recently hit a new 52-week high. Shares of VNM are up approximately 47.3% from their 52-week low of $13.75/share.
But could there be more gains ahead for this ETF? Let’s take a look at the fund and the near-term outlook to get a better idea of where it might be headed.
VNM in Focus
VNM focuses on providing exposure to Vietnamese equities. It invests in stocks that are either domiciled out of Vietnam or derive at least 50% of its revenues from Vietnam. VNM charges 66 basis points in fee per year and has AUM of $442.3 million (see all Asia Pacific Emerging ETFs here).
Why the move?
Vietnam’s stock markets are witnessing a rally and settled at an all-time high at the end of trading on Apr 3. Vietnam stock index increased 1.9% to close at 1,196.61, with gains led by the financials and real estate sectors. Moreover, renewed interest from foreign investors has been driving stocks higher. Per a VN Express article, foreign investors made a net purchase of more than $1 billion in 2017.
More Gains Ahead?
VNM has a Zacks ETF Rank #3 (Hold) with a Medium risk outlook. So, it is hard to get a handle on its returns one way or the other. However, it has a weighted alpha of 48.00. So, there is a promising outlook ahead for those who want to ride this surging ETF a shade further.
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VANECK-VIETNAM (VNM): ETF Research Reports
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Zacks Investment Research