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MWMZX
VanEck Morningstar Wide Moat Fund - Class Z

Daily Price as of 01/15/21

NAV† DAILY CHANGE
$31.31 $-0.32 / -1.0%

Class Z Details: MWMZX

INCEPTION DATE GROSS/NET EXPENSES1
3.02%/0.49%

Fund Summary and Key Points

The VanEck Morningstar Wide Moat Fund 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.

  • The Morningstar® Wide Moat Focus IndexSM contains at least 40 attractively priced U.S. companies with sustainable competitive advantages, or “moats”
  • Morningstar equity analysts use a rigorous proprietary process to determine if a company has an economic moat, which may allow them to earn above average returns on capital over a long period of time
  • Companies included in the Index are also determined to be trading at attractive prices relative to Morningstar’s estimate of fair value

Fund Details
as of 12/31/20

  • Net Assets (All Classes)
    $13.0M
  • Number of Holdings
    50
  • Avg. Wtd. Market Cap
    $61.3B
  • Turnover Rate (2019)
    107.1%
  • P/E (LTM) / P/E (Forward)*
    23.7 / 18.8
  • P/B (LTM)*
    2.9
  • Benchmark Index
    Morningstar® Wide Moat Focus IndexSM
*Price-to-Earnings (P/E) ratio is the price of a stock divided by its earnings per share. Price-to-Book (P/B) ratio is the ratio of a stock's price to its book value.

Performance History: Average Annual Total Returns* (%)

1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE
(11/06/17)
VanEck Morningstar Wide Moat Fund: Class Z
At Net Asset Value 2.93 15.07 14.31 14.31 15.09 -- -- 16.51
Morningstar® Wide Moat Focus IndexSM 2 3.06 15.28 15.09 15.09 15.72 18.61 15.70 17.16
S&P 500 Index3 3.84 12.15 18.40 18.40 14.18 15.22 13.88 14.72
1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE
(11/06/17)
VanEck Morningstar Wide Moat Fund: Class Z
At Net Asset Value 2.93 15.07 14.31 14.31 15.09 -- -- 16.51
Morningstar® Wide Moat Focus IndexSM 2 3.06 15.28 15.09 15.09 15.72 18.61 15.70 17.16
S&P 500 Index3 3.84 12.15 18.40 18.40 14.18 15.22 13.88 14.72

*Returns less than one year are not annualized.

The tables present 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 Fund incurred all expenses and fees1, investment returns would have been reduced. Expenses: Class Z: Gross  3.02% and Net 0.49%. Expenses are capped contractually through 05/01/21 at 0.49% for Class Z. Investment returns and Fund share values will fluctuate so that investors' shares, when redeemed, may be worth more or less than their original cost. Fund returns assume that dividends and capital gains distributions have been reinvested in the Fund at NAV.

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 Morningstar Wide Moat Focus Index is unmanaged and includes the reinvestment of all dividends, but does not reflect the payment of transaction costs, advisory fees or expenses that are associated with an investment in the Fund. An index's performance is not illustrative of the Fund's performance. Indices are not securities in which investments can be made.

Top 10 Holdings (%)

Holdings Sector % of Net Assets
John Wiley & Sons, Inc. Class A Communication Services 3.0
Charles Schwab Corporation Financials 3.0
Corteva Inc Materials 2.8
U.S. Bancorp Financials 2.7
Wells Fargo & Company Financials 2.7
Constellation Brands, Inc. Class A Consumer Staples 2.6
Bank of America Corp Financials 2.6
Boeing Company Industrials 2.6
Yum! Brands, Inc. Consumer Discretionary 2.6
Cheniere Energy, Inc. Energy 2.5
Top 10 Total 27.1
Holdings Sector % of Net Assets
John Wiley & Sons, Inc. Class A Communication Services 3.0
Charles Schwab Corporation Financials 3.0
Corteva Inc Materials 2.8
U.S. Bancorp Financials 2.7
Wells Fargo & Company Financials 2.7
Constellation Brands, Inc. Class A Consumer Staples 2.6
Bank of America Corp Financials 2.6
Boeing Company Industrials 2.6
Yum! Brands, Inc. Consumer Discretionary 2.6
Cheniere Energy, Inc. Energy 2.5
Top 10 Total 27.1
These are not recommendations to buy or sell any security. Holdings may vary.

Sector Weightings (%)
as of 12/31/20

Sector % of Net Assets
Health Care 18.8
Financials 17.6
Information Technology 17.5
Industrials 12.3
Consumer Staples 10.8
Consumer Discretionary 8.5
Communication Services 5.5
Materials 5.2
Energy 2.5
Utilities 1.3
Cash 0.0