Overview
Companies Morningstar's analysts judge to have durable competitive advantages — wide economic moats — bought only when trading below their estimated fair value.
Top Holdings
| Ticker | Holding | Weight |
|---|---|---|
| CRM | Salesforce Inc. | 2.9% |
| NKE | Nike Inc. | 2.8% |
| ADBE | Adobe Inc. | 2.7% |
| GOOGL | Alphabet Inc. A | 2.6% |
| PFE | Pfizer Inc. | 2.5% |
| BA | Boeing Co. | 2.5% |
| DIS | Walt Disney Co. | 2.4% |
| KVUE | Kenvue Inc. | 2.4% |
| BMY | Bristol-Myers Squibb | 2.3% |
| MKTX | MarketAxess Holdings | 2.2% |
Fund Details
Investment Thesis
MOAT mechanises Warren Buffett's core idea — buy great businesses at fair prices — using Morningstar's analyst-driven moat ratings and fair-value estimates. The index rebalances into whichever wide-moat companies look cheapest, which forces contrarian buys the market hates at the time. The long-term record against the S&P 500 is strong for a strategy fund, though the 0.46% fee and analyst dependence are the price of admission.
Who It's For
Buffett-minded investors who want quality-at-a-reasonable-price systematised, and who are comfortable holding temporarily out-of-favour names the screen drags in. A differentiated core satellite.
10-Year History
| Year | Close | % Chg |
|---|---|---|
| 2016 | $30.25 | -- |
| 2017 | $36.90 | +22.0% |
| 2018 | $36.53 | -1.0% |
| 2019 | $48.95 | +34.0% |
| 2020 | $56.30 | +15.0% |
| 2021 | $69.81 | +24.0% |
| 2022 | $60.73 | -13.0% |
| 2023 | $80.17 | +32.0% |
| 2024 | $88.18 | +10.0% |
| 2025 | $97.00 | +10.0% |
| Year | Yield |
|---|---|
| 2016 | 1.50% |
| 2017 | 1.30% |
| 2018 | 1.50% |
| 2019 | 1.30% |
| 2020 | 1.10% |
| 2021 | 1.00% |
| 2022 | 1.20% |
| 2023 | 1.00% |
| 2024 | 1.00% |
| 2025 | 1.00% |
| Year | AUM | % Chg |
|---|---|---|
| 2016 | $0.7B | -- |
| 2017 | $1.2B | +71.4% |
| 2018 | $1.4B | +16.7% |
| 2019 | $2.5B | +78.6% |
| 2020 | $3.5B | +40.0% |
| 2021 | $6B | +71.4% |
| 2022 | $6.5B | +8.3% |
| 2023 | $11B | +69.2% |
| 2024 | $13B | +18.2% |
| 2025 | $12B | -7.7% |
Historical figures are ETFHub estimates modelled from asset-class return patterns and may differ from official fund records. Data as of August 2026.
Related US Broad Market ETFs
Markets. Intelligence. Daily.
Full briefs on 251 ETFs, curated daily ETF news, and a free weekly deep-dive newsletter — all on ETFHub.
Get the Free Weekly Brief Explore the ETF Portal Official Fund Page →