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GOAT
VanEck Morningstar Global Wide Moat UCITS ETF

Index Description

The Morningstar® Global Wide Moat Focus IndexSM tracks the overall performance of attractively priced global companies with sustainable competitive advantages according to Morningstar’s equity research team. The rules-based index is reviewed quarterly. Please consult http://indexes.morningstar.com for detailed index information.

Index Key Points

Underlying Index
Morningstar®Global Wide Moat Focus IndexSM

Index composition:
The Index contains at least 50 companies globally with sustainable competitive advantages trading at attractive valuations according to Morningstar.

Companies eligible for inclusion in the Index:

  • Derived from Morningstar® Global Markets 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:

  • Momentum screen: securities in the bottom 20% as ranked by 12-month price change at the time of review are excluded
  • 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 50 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 200% 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.

Index Information
 

  • Index Provider

    Morningstar
  • Index Type

    Total Return
  • Currency

    USD
  • Reconstitution Frequency

    Semi-Annually, Staggered quarterly
  • Bloomberg Ticker

    MSGWMFNU
  • Reuters Ticker

    --

Index Currency Exposure (%)
as of 30 Apr 2023

  • USD

    51.92
  • EUR

    14.26
  • GBP

    10.22
  • AUD

    4.91
  • JPY

    4.66
  • CHF

    4.24
  • HKD

    2.72
  • BRL

    1.97
  • CAD

    1.93
  • DKK

    1.10
  • SEK

    1.04
  • TWD

    1.03

Index Top 10 Constituents (%) as of 30 Apr 2023

Total Constituents: 72
Constituent Name
Ticker
Weightings (%)
Safran Sa
SAF FP
2.29
London Stock Exchange Group
LSEG LN
2.28
Sanofi
SAN FP
2.27
Bayer Ag-Reg
BAYN GR
2.24
Airbus Group Nv
AIR FP
2.20
Zimmer Biomet Holdings Inc
ZBH US
2.17
Fortinet Inc
FTNT US
2.13
Barry Callebaut Ag-Reg
BARN SW
2.11
Anheuser-Busch Inbev Sa/Nv
ABI BB
2.11
Masco Corp
MAS US
2.09
Top 10 Total (%) 21.89
These are not recommendations to buy or to sell any security. Securities and holdings may vary.

Index Country Weightings (%) as of 30 Apr 2023

  • Country

    Weightings (%)
  • United States

    49.4
  • United Kingdom

    9.2
  • France

    6.8
  • Australia

    4.9
  • Japan

    4.7
  • Switzerland

    4.2
  • China

    3.8
  • Brazil

    3.4
  • Germany

    3.3
  • Belgium

    2.1
  • Netherlands

    2.0
  • Canada

    1.9
  • Denmark

    1.1
  • Sweden

    1.0
  • Taiwan Region

    1.0
  • Hong Kong

    0.9

Index Sector Weightings (%) as of 30 Apr 2023

  • Sector

    Weightings (%)
  • Industrials

    22.1
  • Financials

    19.5
  • Consumer Staples

    18.0
  • Health Care

    14.1
  • Information Technology

    13.1
  • Consumer Discretionary

    5.4
  • Communication Services

    3.8
  • Materials

    3.0
  • Utilities

    0.9

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