FUND PERFORMANCE REPORT

JULY 2023
DCVFMVN30 ETF (BBG: E1VFVN30 VN EQUITY) 17 AUGUST 2023
The VN30 Exchange Traded Fund tracks the VN30 Total Return Index, consisting primarily of Vietnam’s largest listed companies on the Ho Chi Minh City Stock
Exchange. The Index takes into account factors including liquidity, free-float and market capitalisation. As a local fund manager, DCVFM invests without any foreign
ownership limit restrictions. Currently 7/30 stocks (32.8% of fund) are at their limit.

FUND INFORMATION JULY REVIEW

TOTAL NAV VND8,996.7 bn (US $377.0m) July saw a 7.1% YoY rise in retail sales, driven by the ongoing recovery of the
tourism sector. Public investment demonstrated a remarkable acceleration, surging
NAV PER SHARE VND21,143.9 (US $0.89) over 40% YoY, while July CPI increased 0.5%, primarily driven by food and energy
prices. FDI registration reached a three-month high, culminating at $16.2bn in 7M23,
FUND CODE E1VFVN30
reflecting the continued attractiveness of Vietnam as an investment destination.
LISTING BOURSE HOSE Despite a contraction in imports/exports, the trade surplus remained resilient at
$15.2bn, positioning the economy well for the anticipated uplift in exports from the
BENCHMARK VN30 Total Return Index upcoming release of Samsung’s new phone in August.

INDEX PROVIDER HOSE The VNI increased by 8.8% MoM (TR$) in July, more than doubling June’s gains,
with average daily turnover reaching its highest level in over a year as domestic
CUSTODIAN BANK Standard Chartered (Vietnam)
investors return. Trading volume breached $1bn, with the average MoM turnover
MARKET MAKER HSC, BVSC, VCSC, swelling by 8% to $776m/day, underscoring bullish investor expectations. Our
BSC, KIS, VND analysis also indicates a surge in account deposits and a steady rise in retail
investors' margin balances, a firm showing of renewed faith in the market. July
HSC, VDSC, BVSC, TVSI, ACBS, witnessed an intriguing sector pivot, as interest shifted from brokerages and real
AP VCSC, VND, KIS, BSC, SSI, MAS
estate to retail. Conversely, the banking sector underperformed the index, with
MGMT FEE / TER 0.65% / 0.86%
investors exhibiting caution in the wake of Circular 06 and its lending limitations.

TRACKING ERROR 0.06% The VN30 ETF ended July at VND21,143.9/share, noting an increase of 9.7% MoM.

SECTOR EXPOSURE PERFORMANCE SINCE INCEPTION

Transportation, 300
Brokerage, 2.4% 2.2% Energy, 1.2%
Utilities, 0.6% % VN-Index MSCI EM Index E1VFVN30
Diversified Financial, Insurance, 0.3%
4.4%
250
Retail, 4.6%

Food &
Beverage,
Banks, 200
6.0%
42.2%

Cash &
Others, 150
6.9%

Materials,
7.1%
100

Software
& Services,
7.2% Real Estate,
15.0% 50
Sep-14 Sep-15 Sep-16 Sep-17 Sep-18 Sep-19 Sep-20 Sep-21 Sep-22

PORTFOLIO STATISTICS PERIOD FUND VS BENCHMARK PERFORMANCES (%)

Metric E1VFVN30 VNI
Since
As of 31/07/2023 NAV/unit 1M 3M YTD 12M
PE Ratio 12.6 14.8 inception

PB Ratio 1.8 1.8 E1VFVN30 (VND) 21,143.9 9.7 17.9 23.4 1.5 111.4

Dividend Yield (%) 2.0 1.8 VN30 TRI (VND) 1,417.0 9.7 18.0 23.9 1.4 122.9

Beta 1.1 1.0

Standard Dev. (%) 23.0 20.5

Sharpe Ratio -0.2 -0.2 TOP 10 HOLDINGS

STOCK SECTOR % NAV STOCK SECTOR % NAV

CONTACTS
VPB Banks 8.2 VHM Real Estate 5.4
THANH LE
Tel: +84 28 3825 1488 – ext: 3144 FPT Software & Services 7.2 VNM F&B 5.1
Email: thanhle@dragoncapital.com
HPG Materials 7.1 VIC Real Estate 5.0
TRANG PHAM
TCB Banks 6.1 MWG Retail 4.6
Tel: +84 28 3825 1488 – ext 3146
Email: trangphamquynh@dragoncapital.com ACB Banks 5.9 VCB Banks 4.4
15th Floor, Me Linh Point Tower. 2 Ngo Duc Ke, District 1,
HCMC, Vietnam

DISCLAIMER: This document is issued by Dragon Capital Vietfund Management Joint Stock Company (DCVFM). This document is a review of some information related to macro-economic, securities market in Vietnam and the funds
managed by DCVFM. This document is neither a prospectus nor an offer or invitation to apply for fund certificates and neither this document nor anything contained herein shall form the basis of any contract of commitment whatsoever.
The information related to Vietnam macro-economic and securities market contained in this document is for background purposes only and is subject to updating, revision and amendment, and no representation or warranty, express or
implied, is made, and no liability whatsoever is accepted by DCVFM, or any other person, in relation thereto.