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Fund Intelligence | Smart-beta ETF of the Year (MOAT)

MOAT
VanEck Morningstar Wide Moat ETF

Market Updates*

  • MOAT features an impressive long-term performance history.
  • Morningstar regularly addresses valuations and has slowly moved from a value tilt back to fairly even exposure to growth, value and blend style exposure.
  • MOAT’s YTD outperformance of the S&P 500 Index has been driven primarily by strong stock selection over sector over/underweights. Stock selection within the financials, information technology, consumer staples, communication services, and consumer discretionary sectors have been the most notable areas of success.

Learn More | Strong Showing by Recent Moat Stock Picks: Northrop, Google

Source: Morningstar.

Fund Description

VanEck 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.

 
 

  • 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 01/21/22

  • 30-Day SEC Yield1

    1.29%

  • Total Net Assets

    $6.9B

  • Number of Holdings

    46

  • Options

    Available

  • Gross Expense Ratio2

    0.47%

  • Net Expense Ratio/TER2

    0.47%

  • Distribution Frequency

    Annual
Schedule a Call
Why Invest?
How to Buy
Click here to read the Recommended Insights - Blog: Moat Stock Selection Drowns Out Factors
Click here to read the Recommended Insights - Blog: Moat Stock Selection Drowns Out Factors

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 12/31/21

Total Constituents: 46
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full data
Constituent Name
Ticker
Weightings (%)
Constellation Brands Inc-A
STZ US
2.76
Aspen Technology Inc
AZPN US
2.74
Tyler Technologies Inc
TYL US
2.66
Cheniere Energy Inc
LNG US
2.64
Berkshire Hathaway Inc-Cl B
BRK/B US
2.64
Microsoft Corp
MSFT US
2.63
Blackbaud Inc
BLKB US
2.62
Dominion Resources Inc/Va
D US
2.61
Corteva Inc
CTVA US
2.60
Merck & Co. Inc.
MRK US
2.60
Top 10 Total (%) 26.50
These are not recommendations to buy or to sell any security. Securities and holdings may vary.

Index Country Weightings (%) as of 12/31/21

  • Country

    Weightings (%)
  • ■

    United States

    98.6
  • ■

    Argentina

    1.4

Index Sector Weightings (%) as of 12/31/21

  • Sector

    Weightings (%)
  • ■

    Information Technology

    25.5
  • ■

    Health Care

    16.5
  • ■

    Industrials

    15.2
  • ■

    Consumer Staples

    14.1
  • ■

    Communication Services

    7.4
  • ■

    Consumer Discretionary

    6.1
  • ■

    Financials

    5.1
  • ■

    Materials

    4.8
  • ■

    Energy

    2.6
  • ■

    Utilities

    2.6