Key Takeaways

• Agribusiness investing spans the entire global food supply chain beyond traditional commodity exposure.
• Population growth, climate pressures and supply chain disruption are reshaping agriculture as an investment theme.
• The VanEck Agribusiness ETF (MOO) provides diversified exposure across the agribusiness industry from seeds and fertilizers to farming equipment and food producers.

Feeding the world is increasingly viewed as a significant economic and societal challenge.

A growing global population, shifting diets and increasing climate pressures are forcing agricultural systems to produce more with fewer resources and greater efficiency. At the same time, supply chain disruptions and geopolitical tensions have exposed just how fragile those systems can be.

For investors, this is not only a macroeconomic challenge. It may also represent an evolving opportunity across the global food supply chain and the broader agribusiness sector.

What is Agribusiness?

Agribusiness refers to the network of companies involved in producing, processing and distributing food and agricultural products. This includes everything from fertilizers, seeds and farm equipment to food processing, trading and distribution.

Rather than focusing solely on farming or commodities, agribusiness encompasses the full value chain that brings food from field to consumer.

The VanEck Agribusiness ETF (MOO) offers comprehensive exposure to the agribusiness industry by seeking to replicate the MVIS^® Global Agribusiness Index (MVMOOTR). The index comprises a globally diversified group of agribusiness companies, including those engaged in agri-chemicals, animal health and fertilizers, seeds and traits, irrigation equipment and farm machinery, aquaculture and fishing, livestock, cultivation and plantations, and trading of agricultural products.

MOO targets businesses positioned within key areas of modern food systems. In these areas, factors such as scarcity, geopolitics and climate volatility may influence investment and, in some cases, pricing dynamics.

How Agribusiness Investing Benefits from Market Disruptions

Recent years have underscored how vulnerable global food systems can be. Pandemic-related shutdowns, geopolitical tensions and climate-related disruptions have strained supply chains, from fertilizer shortages to transportation bottlenecks.

At the same time, food inflation has remained a key concern for both consumers and policymakers.

While these dynamics can present challenges, they may also reinforce the importance of agribusiness companies. Food demand is inherently inelastic, meaning consumption remains relatively stable across economic cycles. At the same time, many firms have the ability to pass higher input costs through the value chain over time. Supply disruptions can also tighten availability and support pricing for producers and processors.

In this context, agribusiness exposure may serve as a potential buffer during inflationary or supply-constrained environments, although outcomes may vary.

Investing Across the Agriculture Value Chain

These structural pressures do not impact agriculture uniformly. Instead, they flow through different parts of the value chain in distinct ways.

To understand where these opportunities emerge, it helps to step back and look at the full agribusiness ecosystem:

Source: VanEck. Chart for illustrative purposes only. This is not an offer to buy or sell, or recommendation to buy or sell any of the securities mentioned herein.

Each segment of the value chain responds differently to the same underlying pressures. This creates distinct drivers of growth, risk and return. MOO captures this full ecosystem, offering diversified exposure across three key segments:

1. Agricultural Inputs (Upstream)

These companies provide the essential farming building blocks:

• Fertilizers & agricultural chemicals (e.g., Nutrien, Ltd, Mosaic Co.)
• Seeds & crop protection (e.g., Corteva, Inc.)
• Animal health (e.g., Zoetis, Inc.)

These businesses play an important role in improving crop yields and efficiency as arable land becomes more constrained.

Animal health, which is less directly tied to commodity cycles, has been a relatively resilient contributor within the portfolio. This may reflect the defensive characteristics of certain subsegments.

2. Equipment & Infrastructure (Midstream)

Mechanization and logistics are central to modern agriculture:

• Farm machinery (e.g., Deere & Co., CNH Industrial NV, Kubota Corp.)
• Transportation and storage (e.g., rail and grain logistics)

These firms may benefit from long-term trends such as precision agriculture and farm automation, while remaining sensitive to farm income cycles.

3. Processing, Trading & Food Production (Downstream)

This segment connects farms to consumers:

• Grain traders and processors (e.g., Bunge Global SA)
• Protein producers and packaged food companies (e.g., Tyson Foods Inc., Mowi ASA)

These companies play an important role in managing global supply chains by sourcing, storing and distributing food where it is needed most. During periods of volatility, their scale and network advantages may become more relevant.

Portfolio Positioning at a Glance

Understanding how MOO is constructed helps reinforce how it captures the agribusiness opportunity in practice.

Top Holdings

Source: VanEck. Data as of 2/28/2026. This is not an offer to buy or sell, or recommendation to buy or sell any of the securities mentioned herein. Holdings are subject to change.

A snapshot of MOO’s top holdings highlights exposure to leading global agribusiness companies across inputs, equipment and food production.

Takeaway: The fund is concentrated in established, globally recognized agribusiness companies that play important roles across the food supply chain.

Agricultural Supply Chain Weights Exposure

Source: VanEck. Data as of 2/28/2026. Chart for illustrative purposes only. Sector allocations are subject to change.

MOO’s exposure spans key segments of the agricultural supply chain, reflecting the same value chain framework illustrated earlier. Based on the chart, allocations include approximately 25% to seeds, fertilizers and agricultural chemicals, 21% to farm equipment and machinery, 20% to livestock, aquaculture and fishing, 17% to animal health, 10% to agricultural trading and 6% to cultivation and farming.

Takeaway: The portfolio is diversified across multiple parts of the agribusiness value chain, with meaningful exposure to both inputs and downstream activities. This balance may help capture different drivers of performance across the global food supply chain.

Geographic Exposure

Source: VanEck. Data as of 2/28/2026. Chart for illustrative purposes only. Country exposures are subject to change.

The portfolio spans both developed and emerging markets, providing global exposure to companies operating across the agricultural value chain.

Takeaway: This global footprint reflects the international nature of food production and distribution, while providing diversified exposure across regions.

A Distinct Sector Profile

MOO’s exposure reflects the real economy of food production:

• Heavy allocations to consumer staples, materials and industrials
• Minimal exposure to technology-heavy sectors that dominate broad indices

This differentiation means MOO may behave differently than traditional equity portfolios and may offer diversification benefits, particularly during periods of inflation or market stress.

Key Trends in Agriculture and Agribusiness Investing

Structural pressures are accelerating innovation across the system. Precision agriculture and automation are improving yields and reducing costs, while biological inputs and sustainable solutions are gaining traction amid environmental concerns. Companies are also investing in supply chain resilience, and innovation in protein production, including aquaculture, is expanding. These developments are reshaping the landscape for agriculture investing.

How Food Inflation and Supply Chains Impact Agribusiness

Inflation and supply disruptions can create short-term volatility, but they also reinforce long-term investment themes. Food security has become a priority for governments and corporations, while higher baseline prices can support revenues across the value chain. At the same time, innovation is accelerating as producers seek to improve efficiency and offset rising costs.

Agribusiness companies are not just exposed to these dynamics. They are also part of the solution.

What Drives Agribusiness ETF Performance

Agribusiness sits at the intersection of cyclical and structural forces. In the short term, performance is influenced by:

• Commodity prices
• Weather patterns
• Input costs

Over the long term, key drivers include:

• Population growth
• Dietary shifts
• Productivity demands

This cyclical nature can create entry points for long-term investors.

Why Invest in the VanEck Agribusiness ETF (MOO)?

• Global exposure across developed and emerging markets
• Pure-play agribusiness focus
• Diversified value chain exposure
• Structural growth tied to food demand and innovation
• Exposure to a non-discretionary industry
• Potential diversification benefits

The Bottom Line

Agriculture is evolving rapidly, driven by technology, sustainability and global demand. The VanEck Agribusiness ETF (MOO) provides a way to participate in this transformation through the companies enabling the future of food.

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