VanEck Vectors Morningstar Global Wide Moat ETF
GOAT
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- VanEck Morningstar Global Wide Moat UCITS ETF (GOAT) is an exchange-traded fund that seeks to replicate, before fees and expenses, the performance of the Morningstar Global Wide Moat Focus Index, which tracks attractively priced companies worldwide with sustainable competitive advantages, or wide economic moats, as determined by Morningstar's equity research team. The ETF provides investors with exposure to a diversified portfolio typically comprising 50 to 100 holdings across global developed markets, focusing on large-cap equities in sectors such as consumer goods, healthcare, technology, and industrials; it emphasizes firms trading at discounts to Morningstar's fair value estimates while maintaining wide moat ratings for long-term defensibility. Launched on July 7, 2020, and domiciled in Ireland with VanEck as the fund provider, GOAT lists on multiple exchanges including the London Stock Exchange, Borsa Italiana, and Euronext Paris, and operates on an accumulating basis with a total expense ratio of 0.52% per annum. The fund targets institutional and retail investors seeking quality-focused global equity exposure with currency unhedged USD base currency, excluding emerging markets and prioritizing blend-style large-cap stocks from regions including North America (approximately 40%), Europe, Japan, the United Kingdom, and Canada. Key portfolio characteristics include around 66-71 holdings, a forward price/earnings ratio of approximately 18.4, and a dividend yield near 2.5%, with quarterly rebalancing to maintain index alignment; as of late 2025, assets under management stand at roughly EUR 128 million. Recent developments include standard quarterly index rebalances, such as the September 2024 adjustment for GOAT and related VanEck Morningstar Wide Moat ETFs, which refreshed holdings to reflect updated Morningstar valuations and moat assessments amid evolving market conditions. The ETF has maintained steady operations without major structural changes, acquisitions, or new product launches specific to GOAT in the last 1-2 years, continuing to leverage Morningstar's rigorous, forward-looking research from over 100 global analysts. VanEck, headquartered in New York with over 70 years as one of the world's largest ETF issuers managing more than US$100 billion globally, supports GOAT as part of its smart beta and moat-themed offerings.