Moat Investing
Insights on moat investing, powered by Morningstar’s equity research, which seeks quality companies with sustainable competitive advantages trading at attractive valuations, across the small-, mid- and large-cap universe.
EDUCATION
Moat investing represents a simple concept: Invest in companies with sustainable competitive advantages trading at attractive valuations. Learn more about how to access Morningstar’s philosophy.
With small– and mid–cap stock valuations at 20–year lows relative to large caps, now may be a compelling time for investors to consider these stocks.

EDUCATION
MOAT SHOW
Frequently Asked Questions
Morningstar’s approach to moat investing starts with companies with sustainable competitive advantages and targets those trading at attractive valuations. We explore in this Q&A.
Rather than a broad-based approach to international companies, we prefer Morningstar’s selective approach to identifying quality international companies.
Given the large small- and mid-cap stock universe and lack of analyst coverage, we believe a more selective approach may be a better choice than a broad-market exposure. We explore in this Q&A.
Related Funds
_ of _