{"id":14514,"date":"2026-05-10T11:29:20","date_gmt":"2026-05-10T04:29:20","guid":{"rendered":"https:\/\/taichinhphowall.com\/index.php\/2026\/05\/10\/dong-tien-etf-co-phieu-my-va-suc-hut-tu-tam-ly-than-trong\/"},"modified":"2026-05-10T11:29:20","modified_gmt":"2026-05-10T04:29:20","slug":"dong-tien-etf-co-phieu-my-va-suc-hut-tu-tam-ly-than-trong","status":"publish","type":"post","link":"https:\/\/taichinhphowall.com\/index.php\/2026\/05\/10\/dong-tien-etf-co-phieu-my-va-suc-hut-tu-tam-ly-than-trong\/","title":{"rendered":"D\u00f2ng ti\u1ec1n ETF c\u1ed5 phi\u1ebfu M\u1ef9 v\u00e0 s\u1ee9c h\u00fat t\u1eeb t\u00e2m l\u00fd th\u1eadn tr\u1ecdng"},"content":{"rendered":"
\n

D\u00f2ng ti\u1ec1n ETF c\u1ed5 phi\u1ebfu M\u1ef9 \u0111ang tr\u1edf th\u00e0nh t\u00e2m \u0111i\u1ec3m tr\u00ean b\u1ea3n \u0111\u1ed3 t\u00e0i ch\u00ednh to\u00e0n c\u1ea7u khi ghi nh\u1eadn nh\u1eefng \u0111\u1ee3t \u0111\u1ed5 b\u1ed9 m\u1ea1nh m\u1ebd trong th\u00e1ng 4\/2026. S\u1ef1 d\u1ecbch chuy\u1ec3n v\u1ed1n n\u00e0y kh\u00f4ng ch\u1ec9 l\u00e0 nh\u1eefng con s\u1ed1 th\u1ed1ng k\u00ea kh\u00f4 khan m\u00e0 l\u00e0 minh ch\u1ee9ng cho s\u1ef1 \u0111i\u1ec1u ch\u1ec9nh kh\u1ea9u v\u1ecb r\u1ee7i ro c\u1ee7a nh\u00e0 \u0111\u1ea7u t\u01b0 tr\u01b0\u1edbc nh\u1eefng bi\u1ebfn \u0111\u1ed9ng \u0111\u1ecba ch\u00ednh tr\u1ecb ph\u1ee9c t\u1ea1p. Khi \u00e1p l\u1ef1c t\u1eeb xung \u0111\u1ed9t Trung \u0110\u00f4ng t\u1ea1m th\u1eddi h\u1ea1 nhi\u1ec7t, d\u00f2ng v\u1ed1n c\u00f3 xu h\u01b0\u1edbng t\u00e1i \u0111\u1ecbnh v\u1ecb v\u00e0o nh\u1eefng k\u00eanh t\u00e0i s\u1ea3n c\u00f3 kh\u1ea3 n\u0103ng sinh l\u1eddi t\u1ed1t h\u01a1n, trong \u0111\u00f3 th\u1ecb tr\u01b0\u1eddng M\u1ef9 ti\u1ebfp t\u1ee5c gi\u1eef v\u1eefng v\u1ecb th\u1ebf d\u1eabn d\u1eaft d\u00f2ng v\u1ed1n to\u00e0n c\u1ea7u.<\/p>\n

\n \"D\u00f2ng
\u1ea2nh t\u1eeb ngu\u1ed3n: vneconomy.vn<\/em><\/figcaption><\/figure>\n

S\u1ee9c h\u00fat t\u1eeb d\u00f2ng ti\u1ec1n ETF c\u1ed5 phi\u1ebfu M\u1ef9 trong b\u1ed1i c\u1ea3nh v\u0129 m\u00f4<\/h2>\n

Nh\u00ecn v\u00e0o b\u1ee9c tranh t\u1ed5ng th\u1ec3, ETF c\u1ed5 phi\u1ebfu t\u1ea1i M\u1ef9 \u0111\u00e3 h\u00fat r\u00f2ng kho\u1ea3ng 133,1 t\u1ef7 USD, m\u1ed9t con s\u1ed1 t\u0103ng v\u1ecdt so v\u1edbi m\u1ee9c 33,6 t\u1ef7 USD c\u1ee7a th\u00e1ng tr\u01b0\u1edbc \u0111\u00f3. \u0110\u1ed9ng l\u1ef1c ch\u00ednh cho c\u00fa b\u1ee9t ph\u00e1 n\u00e0y xu\u1ea5t ph\u00e1t t\u1eeb k\u1ef3 v\u1ecdng v\u1ec1 l\u1ed9 tr\u00ecnh n\u1edbi l\u1ecfng ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 c\u1ee7a C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang (Fed). D\u00f9 th\u1ecb tr\u01b0\u1eddng v\u1eabn \u0111ang nghe ng\u00f3ng c\u00e1c t\u00edn hi\u1ec7u t\u1eeb b\u1ea3ng l\u01b0\u01a1ng phi n\u00f4ng nghi\u1ec7p hay nh\u1eefng ph\u1ea3n \u1ee9ng c\u1ee7a th\u1ecb tr\u01b0\u1eddng lao \u0111\u1ed9ng, nh\u01b0 \u0111\u00e3 \u0111\u01b0\u1ee3c \u0111\u1ec1 c\u1eadp trong b\u00e0i vi\u1ebft v\u1ec1 b\u1ea3ng l\u01b0\u01a1ng phi n\u00f4ng nghi\u1ec7p M\u1ef9 v\u00e0 nh\u1eefng t\u00edn hi\u1ec7u \u0111\u1ecf t\u1eeb th\u1ecb tr\u01b0\u1eddng lao \u0111\u1ed9ng<\/a>, nh\u00e0 \u0111\u1ea7u t\u01b0 v\u1eabn \u0111\u1eb7t ni\u1ec1m tin v\u00e0o tri\u1ec3n v\u1ecdng l\u1ee3i nhu\u1eadn doanh nghi\u1ec7p b\u1ec1n v\u1eefng t\u1ea1i x\u1ee9 s\u1edf c\u1edd hoa. S\u1ef1 t\u1ef1 tin n\u00e0y t\u1ea1o th\u00e0nh l\u1ef1c h\u00fat \u0111\u1ee7 m\u1ea1nh \u0111\u1ec3 l\u1ea5n \u00e1t nh\u1eefng lo ng\u1ea1i v\u1ec1 bi\u1ebfn \u0111\u1ed9ng b\u00ean ngo\u00e0i.<\/p>\n

Th\u1ef1c t\u1ebf cho th\u1ea5y m\u1ed9t ngh\u1ecbch l\u00fd l\u00e0 trong khi d\u00f2ng ti\u1ec1n t\u00ecm \u0111\u1ebfn c\u1ed5 phi\u1ebfu, nhu c\u1ea7u tr\u00fa \u1ea9n v\u1eabn t\u1ed3n t\u1ea1i song song. C\u00e1c qu\u1ef9 ETF tr\u00e1i phi\u1ebfu M\u1ef9 li\u00ean t\u1ee5c ghi nh\u1eadn tr\u1ea1ng th\u00e1i h\u00fat r\u00f2ng trong nhi\u1ec1u tu\u1ea7n, ph\u1ea3n \u00e1nh chi\u1ebfn l\u01b0\u1ee3c c\u00e2n b\u1eb1ng danh m\u1ee5c c\u1ee7a c\u00e1c nh\u00e0 qu\u1ea3n l\u00fd t\u00e0i s\u1ea3n. Khi l\u1ee3i su\u1ea5t tr\u00e1i phi\u1ebfu Ch\u00ednh ph\u1ee7 M\u1ef9 k\u1ef3 h\u1ea1n 10 n\u0103m ph\u1ee5c h\u1ed3i l\u00ean v\u00f9ng 4,45%, c\u00e1c t\u00e0i s\u1ea3n t\u1ea1o thu nh\u1eadp c\u1ed1 \u0111\u1ecbnh tr\u1edf n\u00ean h\u1ea5p d\u1eabn h\u01a1n nh\u01b0 m\u1ed9t “b\u1ed9 gi\u1ea3m x\u00f3c” tr\u01b0\u1edbc nh\u1eefng b\u1ea5t \u0111\u1ecbnh c\u1ee7a th\u1ecb tr\u01b0\u1eddng h\u00e0ng h\u00f3a. \u0110i\u1ec1u n\u00e0y gi\u1ea3i th\u00edch t\u1ea1i sao d\u00f2ng v\u1ed1n v\u00e0o ETF ti\u1ec1n t\u1ec7 s\u1ee5t gi\u1ea3m m\u1ea1nh, khi nh\u00e0 \u0111\u1ea7u t\u01b0 kh\u00f4ng c\u00f2n \u01b0u ti\u00ean gi\u1eef ti\u1ec1n m\u1eb7t m\u00e0 chuy\u1ec3n sang s\u0103n t\u00ecm l\u1ee3i su\u1ea5t th\u1ef1c t\u1ebf.<\/p>\n

S\u1ef1 ph\u00e2n h\u00f3a d\u00f2ng v\u1ed1n v\u00e0 h\u1ec7 l\u1ee5y t\u1eeb th\u1ecb tr\u01b0\u1eddng \u0111ang ph\u00e1t tri\u1ec3n<\/h2>\n

N\u1ebfu nh\u01b0 th\u1ecb tr\u01b0\u1eddng M\u1ef9 v\u00e0 c\u00e1c th\u1ecb tr\u01b0\u1eddng ph\u00e1t tri\u1ec3n \u0111ang \u0111\u00f3n nh\u1eadn lu\u1ed3ng gi\u00f3 m\u1edbi, th\u00ec c\u00e1c th\u1ecb tr\u01b0\u1eddng \u0111ang ph\u00e1t tri\u1ec3n l\u1ea1i r\u01a1i v\u00e0o th\u1ebf ph\u00f2ng th\u1ee7. D\u1eef li\u1ec7u cho th\u1ea5y \u00e1p l\u1ef1c r\u00fat r\u00f2ng t\u1ea1i nh\u00f3m th\u1ecb tr\u01b0\u1eddng n\u00e0y gia t\u0103ng \u0111\u00e1ng k\u1ec3, ph\u1ea3n \u00e1nh t\u00e2m l\u00fd e ng\u1ea1i tr\u01b0\u1edbc \u0111\u1ed9 nh\u1ea1y cao v\u1edbi bi\u1ebfn \u0111\u1ed9ng ngo\u1ea1i lai. Trong khi Nh\u1eadt B\u1ea3n v\u1eabn duy tr\u00ec s\u1ee9c h\u00fat nh\u1edd ti\u1ebfn tr\u00ecnh c\u1ea3i c\u00e1ch qu\u1ea3n tr\u1ecb doanh nghi\u1ec7p, th\u00ec Trung Qu\u1ed1c l\u1ea1i \u0111\u1ed1i m\u1eb7t v\u1edbi \u00e1p l\u1ef1c r\u00fat r\u00f2ng l\u00ean t\u1edbi 37,1 t\u1ef7 USD do nh\u1eefng lo ng\u1ea1i v\u1ec1 \u0111\u00e0 ph\u1ee5c h\u1ed3i kinh t\u1ebf v\u00e0 b\u00e0i to\u00e1n gi\u1ea3m ph\u00e1t k\u00e9o d\u00e0i.<\/p>\n

T\u1ea1i khu v\u1ef1c \u0110\u00f4ng Nam \u00c1, d\u00f2ng v\u1ed1n ngo\u1ea1i v\u1eabn duy tr\u00ec xu h\u01b0\u1edbng r\u00fat r\u00f2ng ch\u1ee7 \u0111\u1ea1o, v\u1edbi nh\u1eefng c\u00e1i t\u00ean nh\u01b0 Taiwan, South Korea, India hay Indonesia \u0111\u1ec1u ghi nh\u1eadn s\u1ef1 s\u1ee5t gi\u1ea3m t\u00e0i s\u1ea3n \u0111\u1ea7u t\u01b0 trong tu\u1ea7n cu\u1ed1i th\u00e1ng 4. \u0110i\u1ec1u n\u00e0y \u0111\u1eb7t ra d\u1ea5u h\u1ecfi v\u1ec1 kh\u1ea3 n\u0103ng gi\u1eef ch\u00e2n d\u00f2ng v\u1ed1n trong b\u1ed1i c\u1ea3nh c\u00e1c ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng to\u00e0n c\u1ea7u \u0111ang c\u00e2n nh\u1eafc v\u1ec1 vi\u1ec7c k\u1ebft th\u00fac s\u1edbm chu k\u1ef3 n\u1edbi l\u1ecfng ti\u1ec1n t\u1ec7. Ngay c\u1ea3 th\u1ecb tr\u01b0\u1eddng v\u00e0ng, v\u1ed1n \u0111\u01b0\u1ee3c xem l\u00e0 h\u1ea7m tr\u00fa \u1ea9n truy\u1ec1n th\u1ed1ng, c\u0169ng \u0111ang ph\u1ea3i ch\u1ecbu \u00e1p l\u1ef1c t\u1eeb c\u00e1c s\u1ed1 li\u1ec7u vi\u1ec7c l\u00e0m v\u00e0 s\u1ef1 \u0111i\u1ec1u ch\u1ec9nh k\u1ef3 v\u1ecdng l\u00e3i su\u1ea5t, t\u01b0\u01a1ng t\u1ef1 nh\u01b0 nh\u1eefng di\u1ec5n bi\u1ebfn \u0111\u01b0\u1ee3c ph\u00e2n t\u00edch trong b\u00e0i vi\u1ebft v\u1ec1 gi\u00e1 v\u00e0ng t\u00e1i l\u1eadp m\u1ed1c 4.700 USD\/oz<\/a> v\u00e0 s\u1ef1 ch\u00eanh l\u1ec7ch gi\u00e1 kh\u00f3 hi\u1ec3u nh\u01b0 b\u00e0i gi\u00e1 v\u00e0ng trong n\u01b0\u1edbc cao h\u01a1n th\u1ebf gi\u1edbi<\/a>.<\/p>\n

D\u00f2ng ti\u1ec1n ETF c\u1ed5 phi\u1ebfu M\u1ef9 v\u00e0 b\u00e0i h\u1ecdc v\u1ec1 t\u00e2m l\u00fd risk-on<\/h2>\n

X\u00e9t \u1edf g\u00f3c \u0111\u1ed9 v\u1eadn \u0111\u1ed9ng c\u1ee7a d\u00f2ng ti\u1ec1n, t\u00e2m l\u00fd ch\u1ea5p nh\u1eadn r\u1ee7i ro (risk-on) v\u1eabn \u0111ang chi\u1ebfm \u01b0u th\u1ebf t\u1ea1i M\u1ef9. C\u00e1c qu\u1ef9 ETF c\u1ed5 phi\u1ebfu M\u1ef9 ti\u1ebfp t\u1ee5c d\u1eabn d\u1eaft th\u1ecb tr\u01b0\u1eddng, kh\u1eb3ng \u0111\u1ecbnh v\u1ecb th\u1ebf c\u1ee7a m\u1ed9t \u0111i\u1ec3m \u0111\u1ebfn an to\u00e0n trong b\u1ed1i c\u1ea3nh kinh t\u1ebf to\u00e0n c\u1ea7u nhi\u1ec1u th\u00e1ch th\u1ee9c. Tuy nhi\u00ean, s\u1ef1 th\u1eadn tr\u1ecdng v\u1eabn hi\u1ec7n h\u1eefu qua nhu c\u1ea7u s\u1edf h\u1eefu tr\u00e1i phi\u1ebfu t\u0103ng cao. Kh\u00f4ng c\u00f3 s\u1ef1 d\u1ecbch chuy\u1ec3n \u1ed3 \u1ea1t m\u00e0 l\u00e0 m\u1ed9t qu\u00e1 tr\u00ecnh ch\u1ecdn l\u1ecdc t\u00e0i s\u1ea3n kh\u1eaft khe d\u1ef1a tr\u00ean k\u1ef3 v\u1ecdng l\u1ee3i nhu\u1eadn qu\u00fd 1 \u0111\u1ea7y kh\u1ea3 quan.<\/p>\n

Nh\u00ecn s\u00e2u v\u00e0o b\u1ea3n ch\u1ea5t c\u1ee7a s\u1ef1 d\u1ecbch chuy\u1ec3n n\u00e0y, ta th\u1ea5y th\u1ecb tr\u01b0\u1eddng \u0111ang v\u1eadn h\u00e0nh nh\u01b0 m\u1ed9t th\u1ef1c th\u1ec3 t\u1ef1 \u0111i\u1ec1u ch\u1ec9nh. Nh\u1eefng t\u00e0i s\u1ea3n t\u1eebng b\u1ecb ch\u1ed1t l\u1eddi v\u00ec bi\u1ebfn \u0111\u1ed9ng gi\u00e1 nh\u01b0 h\u00e0ng h\u00f3a \u0111ang d\u1ea7n m\u1ea5t \u0111i s\u1ee9c h\u00fat, trong khi c\u1ed5 phi\u1ebfu v\u00e0 tr\u00e1i phi\u1ebfu M\u1ef9 l\u1ea1i ch\u1ee9ng minh \u0111\u01b0\u1ee3c gi\u00e1 tr\u1ecb n\u1ed9i t\u1ea1i trong m\u1eaft c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 l\u1edbn. \u0110\u00e2y kh\u00f4ng ch\u1ec9 \u0111\u01a1n thu\u1ea7n l\u00e0 d\u00f2ng ch\u1ea3y v\u1ed1n, m\u00e0 l\u00e0 ph\u1ea3n \u1ee9ng c\u1ee7a th\u1ecb tr\u01b0\u1eddng tr\u01b0\u1edbc b\u00e0n c\u1edd l\u00e3i su\u1ea5t m\u00e0 Fed \u0111ang n\u1eafm gi\u1eef ch\u00eca kh\u00f3a, n\u01a1i m\u1ed7i quy\u1ebft \u0111\u1ecbnh ch\u00ednh s\u00e1ch s\u1ebd tr\u1ef1c ti\u1ebfp \u0111\u1ecbnh h\u00ecnh l\u1ea1i h\u01b0\u1edbng \u0111i c\u1ee7a d\u00f2ng ti\u1ec1n to\u00e0n c\u1ea7u trong nh\u1eefng th\u00e1ng ti\u1ebfp theo.<\/p>\n

B\u00e0i vi\u1ebft \u0111\u00e3 \u0111\u01b0\u1ee3c bi\u00ean t\u1eadp l\u1ea1i t\u1eeb ngu\u1ed3n: vneconomy.vn<\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

D\u00f2ng ti\u1ec1n ETF c\u1ed5 phi\u1ebfu M\u1ef9 \u0111ang tr\u1edf th\u00e0nh t\u00e2m \u0111i\u1ec3m tr\u00ean b\u1ea3n \u0111\u1ed3 t\u00e0i ch\u00ednh to\u00e0n c\u1ea7u khi ghi nh\u1eadn nh\u1eefng \u0111\u1ee3t \u0111\u1ed5 b\u1ed9 m\u1ea1nh m\u1ebd trong th\u00e1ng 4\/2026. S\u1ef1 d\u1ecbch chuy\u1ec3n v\u1ed1n n\u00e0y kh\u00f4ng ch\u1ec9 l\u00e0 nh\u1eefng con s\u1ed1 th\u1ed1ng k\u00ea kh\u00f4 khan m\u00e0 l\u00e0 minh ch\u1ee9ng cho s\u1ef1 \u0111i\u1ec1u ch\u1ec9nh kh\u1ea9u v\u1ecb […]<\/p>\n","protected":false},"author":1,"featured_media":14512,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[41],"tags":[],"class_list":["post-14514","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tin-tuc-fed"],"_links":{"self":[{"href":"https:\/\/taichinhphowall.com\/index.php\/wp-json\/wp\/v2\/posts\/14514","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/taichinhphowall.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/taichinhphowall.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/taichinhphowall.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/taichinhphowall.com\/index.php\/wp-json\/wp\/v2\/comments?post=14514"}],"version-history":[{"count":0,"href":"https:\/\/taichinhphowall.com\/index.php\/wp-json\/wp\/v2\/posts\/14514\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/taichinhphowall.com\/index.php\/wp-json\/wp\/v2\/media\/14512"}],"wp:attachment":[{"href":"https:\/\/taichinhphowall.com\/index.php\/wp-json\/wp\/v2\/media?parent=14514"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/taichinhphowall.com\/index.php\/wp-json\/wp\/v2\/categories?post=14514"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/taichinhphowall.com\/index.php\/wp-json\/wp\/v2\/tags?post=14514"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}