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MOAT
VanEck Vectors Morningstar Wide Moat ETF

Latest Market Updates*

  • MOAT’s index underwent its quarterly review on September 18, 2020 when it reinforced its previous shifts away from mega cap growth-oriented companies to a more value-oriented posturing. This positioning in what Morningstar believes are undervalued stocks has driven near-term underperformance relative to the broad US equity markets.
  • FAANG + Microsoft accounted for over 23% of the S&P 500 Index while only Amazon and Microsoft remain in MOAT which accounted for just over 2% of its assets as of October 12, 2020.
  • We believe MOAT’s valuations remain attractive signaling upside potential if the market recognizes the mispricing of the portfolio stocks based on Morningstar’s fair value assessments.

Fund Description

VanEck Vectors 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 10/23/20

  • 30-Day SEC Yield1

    1.90%

  • Total Net Assets

    $3.6B

  • Number of Holdings

    48

  • Options

    Available

  • Gross Expense Ratio2

    0.48%

  • Net Expense Ratio/TER2

    0.48%

  • Distribution Frequency

    Annual

Morningstar™ Ratings3
as of 09/30/2020

Category Overall 3 Year 5 Year
Large Blend
5 stars of 1229 funds
4 stars of 1229 funds
5 stars of 1066 funds

Key Points

  • Wide Moat Companies
    A focus on U.S. companies Morningstar believes possess sustainable competitive advantages, or “moats”

  • Focus on Valuations
    Index targets companies trading at attractive prices relative to Morningstar’s estimate of fair value

  • Morningstar’s Equity Research
    Index fueled by Morningstar’s forward-looking, rigorous equity research process driven by over 100 analysts globally

Trading Information

  • Fund Ticker

    MOAT

  • Index Total Return Ticker

    MWMFTR

  • NAV

    MOATNV

  • Intraday NAV (IIV)4

    MOATIV

  • Shares Outstanding

    62,950,000

  • Estimated Cash

    MOATEU

  • Total Cash

    MOATTC

  • CUSIP

    92189F643

  • ISIN

    US92189F6438
Source: Bloomberg

Fees and Expenses2

  • Management Fee

    0.45%

  • Other Expenses

    0.03%

  • Gross Expense Ratio

    0.48%

  • Fee Waivers and
    Expense Reimbursement

    --

  • Net Expense Ratio/TER2

    0.48%
2Expenses for MOAT are capped contractually at 0.49% until February 1, 2021. Cap excludes acquired fund fees and expenses, interest expense, trading expenses, taxes and extraordinary expenses.

Prices as of 10/23/20

NAV/
Market Price 		Volume
30-Day Avg./
Last Trading Day 		Daily Change
NAV/
Last Price 		YTD Change
NAV/
Last Price 		Premium/
Discount 		Prem/Discount
Distribution Charts 		NAV &
Prem/Discount
History 		30-Day
Median
Bid Ask
Spread 		NAV
Chart
MOAT $56.41
$56.42		 303,960
160,510		 -$0.17 / -0.30%
$-0.17 / -0.30%		 +2.93%
+2.99%
 $0.01
0.01%		 0.02%

Premium/Discount History as of 10/23/20

Calendar Year 2019 4Q 2019 1Q 2020 2Q 2020 3Q 2020 Premium/Discount Charts NAV & Prem/Discount History
Days closed at a premium 164 47 23 37 31
MOAT Days closed at NAV 33 9 13 5 8
Days closed at a discount 55 8 26 21 25

Performance History: Average Annual Total Returns* (%)
View All ETFs View All Indices

1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE
04/24/12
MOAT (NAV) -3.76 4.50 -0.33 10.40 12.19 16.04 -- 13.91
MOAT (Share Price) -3.77 4.52 -0.35 10.27 12.15 16.05 -- 13.90
MWMFTR (Index) -3.72 4.64 -0.17 10.73 12.68 16.61 14.75 14.46
Performance Differential (NAV - Index) -0.04 -0.14 -0.16 -0.33 -0.49 -0.57 -- -0.55
S&P 500 Index -3.80 8.93 5.57 15.15 12.28 14.15 13.74 13.54
1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE
04/24/12
MOAT (NAV) -3.76 4.50 -0.33 10.40 12.19 16.04 -- 13.91
MOAT (Share Price) -3.77 4.52 -0.35 10.27 12.15 16.05 -- 13.90
MWMFTR (Index) -3.72 4.64 -0.17 10.73 12.68 16.61 14.75 14.46
Performance Differential (NAV - Index) -0.04 -0.14 -0.16 -0.33 -0.49 -0.57 -- -0.55
S&P 500 Index -3.80 8.93 5.57 15.15 12.28 14.15 13.74 13.54

*Returns less than one year are not annualized.

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.

The table presents past performance which is no guarantee of future results and which may be lower or higher than current performance. Returns reflect temporary contractual fee waivers and/or expense reimbursements. Had the ETF incurred all expenses and fees, investment returns would have been reduced. Investment returns and ETF share values will fluctuate so that investors' shares, when redeemed, may be worth more or less than their original cost. ETF returns assume that dividends and capital gains distributions have been reinvested in the Fund at NAV.

Top 10 Holdings (%) as of 09/30/20 Daily Holdings

Total Holdings: 48
Swipe
to view
full data
Holding Name
Ticker
Shares Market Value
(US$) 		% of Net
Assets
SALESFORCE.COM INC
CRM US
386,282
97,080,392 2.87
COMPASS MINERALS INTERNATIONAL INC
CMP US
1,615,022
95,851,556 2.83
ASPEN TECHNOLOGY INC
AZPN US
747,840
94,669,066 2.80
BERKSHIRE HATHAWAY INC
BRK/B US
425,543
90,615,126 2.68
PFIZER INC
PFE US
2,425,894
89,030,310 2.63
BRISTOL-MYERS SQUIBB CO
BMY US
1,459,160
87,972,756 2.60
BIOGEN INC
BIIB US
309,420
87,776,266 2.59
APPLIED MATERIALS INC
AMAT US
1,467,564
87,246,680 2.58
MEDTRONIC PLC
MDT US
837,916
87,076,231 2.57
CORTEVA INC
CTVA US
3,007,576
86,648,265 2.56
Top 10 Total (%) 26.71
These are not recommendations to buy or to sell any security. Securities and holdings may vary.

Country Weightings (%) as of 09/30/20

  • Country

    % of Net Assets
  • ■

    United States

    99.95
  • ■

    Other/Cash

    0.05

Sector Weightings (%) as of 09/30/20

  • Sector

    % of Net Assets
  • ■

    Information Technology

    22.0
  • ■

    Health Care

    20.2
  • ■

    Financials

    16.0
  • ■

    Consumer Staples

    11.0
  • ■

    Industrials

    10.9
  • ■

    Consumer Discretionary

    7.5
  • ■

    Materials

    5.4
  • ■

    Communication Services

    3.6
  • ■

    Energy

    2.4
  • ■

    Utilities

    1.2
  • ■

    Other/Cash

    0.1