• Sustainable Competitive Advantages

    The Moat Investing Philosophy

    The moat philosophy aims to identify companies with structural competitive advantages that are more likely to earn above-average returns on capital over a long period of time, according to Morningstar's equity research team.

    Morningstar believes these moat-rated companies demonstrate a sustainable competitive edge.

    MOAT and MOTI

    Two ETFs focus on moat investing: VanEck Vectors Morningstar® Wide Moat ETF (MOAT®) offers investors domestic exposure to Morningstar’s proprietary equity research, and VanEck Vectors® Morningstar International Moat ETF (MOTI) offers international exposure.

    Learn more about Morningstar's Moat Rating »

    ...at Attractive Valuations

    Morningstar’s proprietary valuation methodology is used in an effort to select undervalued moat-rated stocks for inclusion in the Morningstar suite of moat indexes.

    Learn more about Morningstar’s Valuation Framework »

    A History of Outperformance

    The Morningstar® Wide Moat Focus IndexSM and Morningstar® Global ex-US Moat Focus IndexSM have outperformed their respective broad markets historically.


    VanEck Vectors Morningstar Wide Moat ETF

    VanEck Vectors Morningstar International Moat ETF

    Exposure Type Domestic Exposure International Exposure
    Ticker MOAT® MOTI
    Underlying Index Morningstar® Wide Moat Focus IndexSM (MWMFTR) Morningstar® Global ex-US Moat Focus IndexSM (MGEUMFUN)
    Inception Date 4/24/2012 7/13/2015
    Gross Expenses 0.51% 0.64%
    Net Expenses 0.49%1 0.56%2
    MWMFTR Index Reconstitution Report 6/17/16
    MGEUMFUN Index Reconstitution Report 6/17/16
    Learn more » Learn more »

    Moat Investing Monthly Blog

    Receive these monthly blog posts on Morningstar moat philosophy and its impact on MOAT and MOTI.

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    Conference Call

    October 4: Quarterly Moat Investing Call

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