VanEck Morningstar Wide Moat Fund (MOAT)
Summary
AI Reevaluations Shape Moat Index Turnover
AI-driven moat rating downgrades played a major role in the Moat Index's Q2 review, reshaping tech exposure while surfacing attractively priced opportunities across other sectors. Key Takeaways Morningstar's March reassessment of software companies drove a larger-than-usual portion of the Index's turnover this quarter.
MOAT: Relative Value Proposition Is What Makes VanEck's Wide Moat ETF Special
MOAT is comprised of two sub-portfolios of U.S. securities with low price-to-fair market value ratios and "wide moat" ratings from Morningstar. Its expense ratio is 0.46%. On the surface, MOAT's 24.34x trailing P/E ratio appears expensive for a value-oriented ETF, especially when weighed against SPY's 26.86x P/E. However, my analysis reveals a 24% "discount to itself" based on its constituents' 5Y average P/E ratios. That discount is the 16th highest among 884 U.S. Size & Style ETFs.
Pattern Group: Defensible MOAT
Pattern Group has a MOAT in e-commerce optimization and is the largest player globally in this segment. EBITDA is expected to grow on average by 30% up to 2029, and the stock is trading at a reasonable forward EV/EBITDA multiple of 16x. The stock is +41% since its September 2025 IPO.
VanEck Morningstar Wide Moat Fund Investors
| Name | Quantity | Cost | Value | Profit ($) | Gain (%) |
|---|---|---|---|---|---|
| TJD Thomas John Drogan PR Inc.IPAL SECURITIES Inc. | 43,185 | $3.9M | $4.61M | $709,229.37 | 18.18% |
| TMB Timothy M. Bidwell Hazlett, BURT & WATSON Inc. | 11,616 | $1.05M | $1.24M | $186,756.31 | 17.73% |
| CE Curtis Ellergodt Rothschild Investment LLC | 1,234 | $108,318.16 | $131,717.16 | $23,399 | 21.6% |
| TM Tom McDonald Richards, MERRILL & PETERSON Inc. | 200 | $19,822 | $21,230 | $1,408 | 7.1% |
| JD Jim Dushek HARBOUR INVESTMENTS Inc. | 39,306 | $3.53M | $4.18M | $652,654.44 | 18.48% |
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VanEck Morningstar Wide Moat Fund Profile
| BATS Exchange | US Country |
Overview
The fund is designed for investors seeking sustainable investment opportunities that connect financial returns with positive environmental or social outcomes. It allocates at least 80% of its total assets to securities within its benchmark index, which is curated based on rigorous standards set by Morningstar, Inc. This index is unique as it focuses solely on companies identified to possess sustainable competitive advantages, often referred to as "wide moat companies." Through a blend of both quantitative metrics and qualitative analysis, the fund aims to invest in firms that are not only leading in their respective sectors but are also positioned for long-term success due to their sustainable practices and strong market positioning.
Products and Services
- Sustainable Investment Fund
This product targets investors looking to integrate sustainability principles into their investment portfolios. The fund invests predominantly in securities selected from the benchmark index, consisting of wide moat companies as determined by Morningstar, Inc. These companies are believed to have sustainable competitive advantages, blending factors such as environmental responsibility, social impact, and governance (ESG) practices alongside strong financial performance potential. The objective is to offer investors not just financial returns, but also a sense of contributing positively towards global challenges through their investments.
