VanEck Vectors Morningstar Wide Moat ETF MOAT
Fund description: MOAT gives investors exposure to a diversified portfolio of attractively priced US companies with sustainable competitive advantages according to Morningstar’s equity research team. MOAT aims to provide investment returns before fees and other costs which track the performance of the Index.
Index description: The Morningstar® Wide Moat Focus NR AUD Index™ is a rules-based, equal-weighted index intended to offer exposure to attractively priced companies with sustainable competitive advantages according to Morningstar’s equity research team.
Management style: Replication
as at 26-Oct-20
-
Exchange
ASX -
ASX code
MOAT -
Bloomberg index code
MWMFNAUD -
Index provider
Morningstar -
NAV1
$77.60 -
Units outstanding1
2,227,881 -
Net assets1
$172.9M -
Number of holdings1
48 -
NYSE commencement
24-Apr-12 -
ASX commencement
26-Jun-15
1As of the close of the previous trading day.
as at 26-Oct-20
-
Distribution frequency
1 each year -
Management costs p.a.
0.49% - Investment management team »
- Market Announcements
- MOAT Fact Sheet
- Not all Moats are Created Equal
- MOAT Index Rebalance
- Moat investing
The NAV is generally calculated daily after all markets are closed for that day based on the closing price of the securities on the relevant foreign stock exchange. The NAV is then converted to AUD based on the relevant London WM Reuters 4pm exchange rate. This means, due to Australia’s time zone, that the NAV will generally not be updated until around 3pm next business day.
Key points
Underlying Index: Morningstar® Wide Moat Focus NR AUD Index™
Index composition:
The Index contains at least 40 attractively priced US 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.
Index profile
-
Bloomberg index code
MWMFNAUD -
Inception date
14-Feb-07 -
Reconstitution frequency
Semi-Annually, Staggered quarterly
Top ten index constituents (%) as at 30-Sep-20
| Constituent name |
Ticker
|
Weightings (%) | |
|---|---|---|---|
| SALESFORCE.COM INC |
CRM US
|
2.87 | |
| COMPASS MINERALS INTERNATION |
CMP US
|
2.83 | |
| ASPEN TECHNOLOGY INC |
AZPN US
|
2.80 | |
| BERKSHIRE HATHAWAY INC-CL B |
BRK/B US
|
2.68 | |
| PFIZER INC |
PFE US
|
2.63 | |
| BRISTOL-MYERS SQUIBB CO |
BMY US
|
2.60 | |
| BIOGEN IDEC INC |
BIIB US
|
2.59 | |
| APPLIED MATERIALS INC |
AMAT US
|
2.58 | |
| MEDTRONIC INC |
MDT US
|
2.57 | |
| CORTEVA INC |
CTVA US
|
2.56 | |
| Top ten total (%) | 26.71 | ||
Index country weightings (%) as of 30-Sep-20
-
Country
Weightings (%) -
United States
100.0 -
Total
100.0
Index sector weightings (%) as at 30-Sep-20
-
Sector
Weightings (%) -
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 -
Total
100.2
The Morningstar® Wide Moat Focus Index™ was created and is maintained by Morningstar, Inc. Morningstar, Inc. does not sponsor, endorse, issue, sell, or promote the MOAT fund and bears no liability with respect to MOAT or any security. Morningstar® and Morningstar Wide Moat Focus Index™ are trademarks of Morningstar, Inc. and have been licensed for use by VanEck.