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MOAT
VanEck Vectors Morningstar Wide Moat ETF

  • The latest quarterly review of MOAT’s Index, the Morningstar® Wide Moat Focus IndexSM(MWMFTR or “the Index”), on June 19, 2020 led to increased weightings for many stocks added in the previous rebalance. Also notable was the further reduction in FAANG stocks exposure from already low levels and the addition of well-known consumer brands, including Coca-Cola, Tiffany and Yum! Brands.
  • Index reviews during market volatility and sell-offs have, at times historically, benefited the index. Most recently, the Index allocated to many oversold semiconductor companies at the end of December 2018. Many of those companies helped fuel 2019 outperformance.
  • We believe MOAT’s valuations remain attractive signaling upside potential if the market recognizes the mispricing of the portfolio stocks based on Morningstar’s fair value assessments.

Read more in our latest Moat Investing blog.

Fund Description

VanEck Vectors Morningstar Wide Moat ETF (MOAT®) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Morningstar® Wide Moat Focus IndexSM (MWMFTR), which is intended to track the overall performance of attractively priced companies with sustainable competitive advantages according to Morningstar's equity research team.

Why MOAT?

 
 

  • Fund Ticker

    MOAT
  • Exchange

    Cboe
  • ETF Structure

    Physical
  • Administrator

    Van Eck Associates
  • Custodian

    State Street Bank and Trust Company
  • Index Ticker

    MWMFTR
  • Index Reconstitution

    Semi-Annually, Staggered quarterly

 
as of 07/02/20

  • 30-Day SEC Yield1

    1.94%
  • Total Net Assets

    $3.3B
  • Number of Holdings

    49
  • Options

    Available
  • Gross Expense Ratio2

    0.48%
  • Net Expense Ratio/TER2

    0.48%
  • Distribution Frequency

    Annual

Index Key Points

Underlying Index: 

Morningstar® Wide Moat Focus IndexSM

The Index Composition:

The Index contains at least 40 attractively priced U.S. companies with sustainable competitive advantages according to Morningstar's equity research team.

Companies eligible for inclusion in the Index:

  • Derived from Morningstar® US Market IndexSM (Parent Index)
  • Assigned an Economic Moat rating of wide by Morningstar’s equity research team
  • Assigned a fair value estimate by Morningstar's equity research team

Methodology Highlights:

  • Staggered reconstitution
    • Index is divided into two equally-weighted sub-portfolios, and each is reconstituted and rebalanced semi-annually on alternating quarters
    • Each sub-portfolio will contain 40 equally-weighted securities at its semi-annual reconstitution and weights will vary with market prices until the next reconstitution date.
    • Each sub-portfolio is reweighted to 50% of the total index every six months.
  • Buffer rule
    • At each quarterly review, current index constituents ranked within the top 150% of the eligible universe based on current market price/fair value ratio are given preference for inclusion
    • From among the remaining eligible securities, those with the lowest current market price/fair value ratios are included in the index
  • Sector cap: The greater of 40% or corresponding weight in Parent Index + 10%

Index provider:

Morningstar, Inc.

Effective June 20, 2016, Morningstar implemented several changes to the Morningstar Wide Moat Focus Index construction rules. Among other changes, the index increased its constituent count from 20 stocks to at least 40 stocks and modified its rebalance and reconstitution methodology. These changes may result in more diversified exposure, lower turnover, and longer holding periods for index constituents than under the rules in effect prior to this date. Past performance is no guarantee of future results.

Index Profile

  • Ticker

    MWMFTR
  • Inception Date

    02/14/2007
  • Rebalance Frequency

    Semi-Annually, Staggered quarterly

Index Top 10 Constituents (%) as of 05/31/20 Download All Index Constituents

Total Constituents: 47
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full data
Constituent Name
Ticker
Weightings (%)
Veeva Systems Inc-Class A
VEEV US
3.71
Servicenow Inc
NOW US
3.40
Amazon.Com Inc
AMZN US
3.33
Facebook Inc-A
FB US
2.95
Blackrock Inc
BLK US
2.83
Intel Corp
INTC US
2.80
Microchip Technology Inc
MCHP US
2.78
Core Laboratories N.V.
CLB US
2.74
Salesforce.Com Inc
CRM US
2.70
Guidewire Software Inc
GWRE US
2.69
Top 10 Total (%) 29.93
These are not recommendations to buy or to sell any security. Securities and holdings may vary.

Index Country Weightings (%) as of 05/31/20

  • Country

    Weightings (%)
  • United States

    100.0

Index Sector Weightings (%) as of 05/31/20

  • Sector

    Weightings (%)
  • Information Technology

    20.4
  • Health Care

    19.9
  • Financials

    14.9
  • Industrials

    11.6
  • Consumer Discretionary

    8.5
  • Consumer Staples

    8.0
  • Communication Services

    5.4
  • Energy

    4.9
  • Materials

    4.9
  • Utilities

    1.4