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The Morningstar Wide Moat Focus Index has faced modest headwinds from factor risk exposure since its inception, but favorable stock selection remains the dominant driver of relative outperformance versus the broad U.S. equity market.
The Morningstar® Wide Moat Focus IndexSM (the “Moat Index” or “Index”) completed its quarterly review on 22 March 2021. This review was awfully different than its review one year ago.
The Morningstar Wide Moat Focus Index’s increase in exposure to large banks and brokerages in March 2020 has paid off. They comprised four of the top five contributors to performance last month.
The Morningstar Wide Moat Focus Index ended January ahead of the S&P 500 Index. We also touch on inflation and what it may mean for moat stocks.
We take a look at the top and bottom performers for 2020 for the Morningstar Wide Moat Focus Index, following the Index’s strong finish in Q4 relative to the S&P 500 Index.