MVAL Fees and Costs — VanEck Morningstar Wide Moat Value ETF
Data updated: 2026-08-26
The net expense ratio is 0.50%: a 0.45% management fee plus 1.64% other expenses, less a 1.59% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $1K in broker commissions, 0.0212% of average net assets, and portfolio turnover was 44%.
MVAL Fees and Expenses
Annual operating expenses and sales charges of MVAL. Prospectus, as of February 1, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.45% |
| 12b-1 fee | — |
| Other expenses | 1.64% |
| Gross expense ratio | 2.09% |
| Fee waiver | −1.59% |
| Net expense ratio | 0.50% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
MVAL Costs Over Time
On $10,000 invested in MVAL, assuming 5% a year before costs, total costs come to $329 over 5 years, cutting the return by 0.55% 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 0.50%) | $52 | $165 | $287 |
| Trading costs (broker commissions) | $2 | $7 | $12 |
| Lost growth on money paid in costs | $0 | $8 | $30 |
| Total costs | $55 | $180 | $329 |
| Value after costs | $10,445 | $11,396 | $12,434 |
| Impact on return, per year | 0.55% | 0.55% | 0.55% |
MVAL 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): 0.0212%
- Total broker commissions: $1K
- Bought from dealers (principal trades, not a cost): $7.2M
- Portfolio turnover (prospectus): 44%
- Securities on loan, average value: $3K
- Net income from securities lending: $18 (0.000% of average net assets)
MVAL Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Jefferies LLC | $296 | 28.41% |
| Morgan Stanley & Co. LLC | $256 | 24.52% |
| BofA Securities, Inc. | $246 | 23.60% |
| UBS Securities LLC | $213 | 20.38% |
| Citigroup Global Markets Inc. | $11 | 1.09% |
| J.P. Morgan Securities LLC | $11 | 1.05% |
| Goldman Sachs & Co. LLC | $10 | 0.94% |
MVAL Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| National Securities Clearing Corporation | $7.2M | 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.