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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

Country of domicile: Australia

  as at 15-Apr-21

  • Exchange

    ASX

  • ASX code

    MOAT

  • Bloomberg index code

    MWMFNAUD

  • Index provider

    Morningstar

  • NAV1

    $92.72

  • Units outstanding1

    2,679,240

  • Net assets1

    $248.4M

  • Number of holdings1

    49

  • NYSE commencement

    24-Apr-12

  • ASX commencement

    26-Jun-15

1As of the close of the previous trading day.

as at 15-Apr-21

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.

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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 31-Mar-21

Total constituents: 49
Constituent name
Ticker
 Weightings (%)
WELLS FARGO & CO
WFC US
 2.82
INTEL CORP
INTC US
 2.75
ALTRIA GROUP INC
MO US
 2.75
GENERAL DYNAMICS CORP
GD US
 2.66
BLACKBAUD INC
BLKB US
 2.66
BOEING CO/THE
BA US
 2.64
CHENIERE ENERGY INC
LNG US
 2.62
BIOGEN IDEC INC
BIIB US
 2.62
CORTEVA INC
CTVA US
 2.59
PHILIP MORRIS INTERNATIONAL
PM US
 2.58
Top ten total (%) 26.69
These are not recommendations to buy or to sell any security. Securities and holdings may vary.

Index country weightings (%) as of 31-Mar-21

  • Country

    Weightings (%)

  • United States

    100.0

  • Total

    100.0

Index sector weightings (%) as at 31-Mar-21

  • Sector

    Weightings (%)

  • Health Care

    20.6

  • Information Technology

    17.7

  • Industrials

    15.3

  • Financials

    12.3

  • Consumer Staples

    11.4

  • Communication Services

    6.9

  • Consumer Discretionary

    5.9

  • Materials

    4.9

  • Energy

    2.6

  • Utilities

    2.4

  • Total

    100.0

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.