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Vietnam’s FTSE upgrade starts a phased path for 27 stocks through 2027
Vietnam is scheduled to move from Frontier to Secondary Emerging Market status in FTSE Russell’s classification at the open on 21 September 2026, with implementation continuing through September 2027.[1][25] The 27 eligible Vietnamese securities will enter relevant FTSE global indices in four tranches: 10% of invest...
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Key takeaways
- Vietnam is scheduled to move from Frontier to Secondary Emerging Market status in FTSE Russell’s classification at the open on 21 September 2026, with implementation continuing through September 2027.[1][25]
- The 27 eligible Vietnamese securities will enter relevant FTSE global indices in four tranches: 10% of investability weight in September 2026, then 20%, 35% and 35% in 2027.[25]
- Reported large cap names include Vietcombank, Vingroup and Vinhomes, while BIDV, Hoa Phat Group and VPBank are among the reported mid cap names.
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openai.comCreate a landscape editorial hero image for this Studio Global article: What does Vietnam’s stock market’s official reclassification as an FTSE Russell “Secondary Emerging Market” on September 21, 2026—first anno. Article summary: Vietnam is scheduled to move from FTSE Russell’s Frontier to Secondary Emerging classification at the open on 21 September 2026; as of 18 September, it is a confirmed, imminent reclassification—not yet a completed one. [. Topic tags: general, general web, news, user generated. Style: premium digital editorial illustration, source-backed research mood, clean composition, high detail, modern web publication hero. Use reference image context only for broad subject, composition, and topical grounding; do not copy the exact image. Avoid: logos, brand marks, copyrighted characters, real person likenesses, fake screenshots, UI text, readable text, watermarks, charts w
Vietnam’s move from Frontier to Secondary Emerging Market status in FTSE Russell’s country classification is scheduled to take effect at the market open on 21 September 2026.1
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The change does not mean international investors must buy Vietnamese shares. Its practical importance is that eligible Vietnamese companies can begin to enter FTSE’s emerging-market benchmark ecosystem, making them available to funds that track or use those benchmarks.
Inclusion will be phased, not completed in one day
FTSE Russell has confirmed that Vietnam’s entry into the FTSE Global Equity Index Series (GEIS) and associated indices will be introduced in stages from September 2026 through 2027.25
| Tranche | Timing | Investability weight added | Cumulative weight |
|---|---|---|---|
| 1 | September 2026 | 10% | 10% |
| 2 | March 2027 | 20% | 30% |
| 3 | June 2027 | 35% | 65% |
| 4 | September 2027 | 35% | 100% |
These percentages refer to investability weight, rather than a company’s entire listed market capitalisation. The phased approach gives index-tracking funds, brokers, custodians and the market time to make portfolio and operational adjustments, instead of concentrating potentially large trades into a single session.25
Which 27 stocks are eligible?
FTSE Russell updated its list of Vietnamese securities eligible for the FTSE Global All Cap Index ahead of the effective date.6 Reports on that list identify 27 stocks, including the following larger companies:
- Large cap: Vietcombank (VCB), Vingroup (VIC) and Vinhomes (VHM)
- Mid cap: BIDV (BID), Hoa Phat Group (HPG) and VPBank (VPB)
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Reuters also reported that the eligible group includes Vingroup, FPT and Hoa Phat Group.17 Separate reporting said six Vietnamese stocks were also included in the FTSE All-World basket.
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Eligibility is not a permanent guarantee of index weight or membership. Constituents remain subject to FTSE Russell’s regular reviews and criteria, including liquidity, free-float-adjusted size and foreign-investor accessibility.4
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Why the upgrade could widen access to foreign capital
Passive funds are designed to follow an index or stay close to it. As Vietnam’s weight is progressively introduced into FTSE emerging-market indices, funds using those benchmarks may need to adjust their portfolios in line with the timetable.
The upgrade may also put Vietnam on the radar of more active global portfolio managers. But it is an opportunity for broader access to capital, not a promise of inflows. Actual investment decisions will still depend on valuations, liquidity, foreign ownership limits, currency conditions, global market sentiment and individual fund mandates. Reuters reported an increase in foreign interest in Vietnamese shares ahead of the reclassification.17
Forecasts of multibillion-dollar inflows should therefore be treated as market estimates, not binding commitments by FTSE Russell, BlackRock, Vanguard or other asset managers. Since only 10% of the target investability weight is set to be included in the first tranche, most index-related effects—if they occur—would be spread across the 2027 tranches.21
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The 17 September meeting and the market-infrastructure agenda
On 17 September in Hanoi, Prime Minister Lê Minh Hưng met Fiona Bassett, CEO of FTSE Russell, and a delegation of global investment organisations. Reports said the delegation included representatives of BlackRock and Vanguard.33
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FTSE Russell said it would support Vietnam’s efforts to build a capital market with greater depth, liquidity and resilience.34 That is significant because the reclassification recognises progress in market accessibility, but long-term international participation will also depend on trading and settlement infrastructure, disclosure, corporate governance and institutional-investor participation.
The reported presence of Vanguard representatives at the meeting does not by itself establish a binding commitment on allocation size or a timetable for Vietnam’s inclusion across all Vanguard emerging-market funds. Such commitments would require confirmation in official fund documents or statements from the manager.
What investors should watch next
The effective date is the start of implementation, rather than the end of the process. Key points to monitor include:
- The next rebalancing tranches: cumulative inclusion is scheduled to rise from 10% to 30%, 65% and then 100% across 2027.
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- Stock-level eligibility: free float, foreign ownership capacity and liquidity can affect a company’s effective index weight.
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- The market’s ability to absorb trading: staging is intended to support an orderly adjustment rather than concentrate pressure in one event.
- Post-upgrade reforms: durable improvements in infrastructure and investor access will matter more than any single index rebalance.
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Bottom line
Vietnam’s entry into FTSE Russell’s Secondary Emerging Market category will connect eligible Vietnamese shares to FTSE’s emerging-market index framework. With 27 eligible stocks and a 10%–20%–35%–35% rollout, the technical portfolio impact is designed to unfold gradually until September 2027—not all at once on 21 September 2026.25
It is an important milestone for Vietnam’s access to international portfolio capital. Its longer-term value, however, will depend on whether liquidity, governance, infrastructure and market openness continue to improve after the index transition is complete.
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What is the short answer to "Vietnam’s FTSE upgrade starts a phased path for 27 stocks through 2027"?
Vietnam is scheduled to move from Frontier to Secondary Emerging Market status in FTSE Russell’s classification at the open on 21 September 2026, with implementation continuing through September 2027.[1][25]
What are the key points to validate first?
Vietnam is scheduled to move from Frontier to Secondary Emerging Market status in FTSE Russell’s classification at the open on 21 September 2026, with implementation continuing through September 2027.[1][25] The 27 eligible Vietnamese securities will enter relevant FTSE global indices in four tranches: 10% of investability weight in September 2026, then 20%, 35% and 35% in 2027.[25]
What should I do next in practice?
Reported large cap names include Vietcombank, Vingroup and Vinhomes, while BIDV, Hoa Phat Group and VPBank are among the reported mid cap names.
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