MOAT Fees and Costs — VanEck Morningstar Wide Moat ETF
Data updated: 2026-08-26
The net expense ratio is 0.46%: a 0.45% management fee plus 0.01% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $3.2M in broker commissions, 0.0227% of average net assets, and portfolio turnover was 55%.
MOAT Fees and Expenses
Annual operating expenses and sales charges of MOAT. Prospectus, as of February 1, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.45% |
| 12b-1 fee | — |
| Other expenses | 0.01% |
| Gross expense ratio | 0.46% |
| Fee waiver | — |
| Net expense ratio | 0.46% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
MOAT Costs Over Time
On $10,000 invested in MOAT, assuming 5% a year before costs, total costs come to $305 over 5 years, cutting the return by 0.51% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.46%) | $48 | $152 | $264 |
| Trading costs (broker commissions) | $2 | $7 | $13 |
| Lost growth on money paid in costs | $0 | $8 | $28 |
| Total costs | $51 | $167 | $305 |
| Value after costs | $10,449 | $11,409 | $12,458 |
| Impact on return, per year | 0.51% | 0.51% | 0.51% |
MOAT Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0227%
- Total broker commissions: $3.2M
- Bought from dealers (principal trades, not a cost): $20.8B
- Portfolio turnover (prospectus): 55%
- Securities on loan, average value: $188.4M
- Net income from securities lending: $213K (0.002% of average net assets)
MOAT Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| UBS Securities LLC | $2.0M | 62.01% |
| J.P. Morgan Securities LLC | $596K | 18.73% |
| Jefferies LLC | $542K | 17.03% |
| BofA Securities, Inc. | $22K | 0.70% |
| Citigroup Global Markets Inc. | $21K | 0.66% |
| Morgan Stanley & Co. LLC | $12K | 0.39% |
| Goldman Sachs & Co. LLC | $9K | 0.29% |
| Robert W. Baird & Co. Incorporated | $6K | 0.20% |
MOAT Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| National Securities Clearing Corporation | $20.8B | 100.00% |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.