GPZ vs. MOAT

Last updated Aug 4, 2026

GPZ (VanEck Alternative Asset Manager ETF) and MOAT (VanEck Morningstar Wide Moat ETF) are both exchange-traded funds - GPZ is a Financials Equities fund tracking the MarketVector Alternative Asset Managers Index, while MOAT is a Large Cap Blend Equities fund tracking the Morningstar Wide Moat Focus Index. Both are passively managed. Over the past year, GPZ returned -11.39% vs 15.84% for MOAT. Their 0.65 correlation means they have sometimes moved together and sometimes differently. GPZ charges 0.40%/yr vs 0.47%/yr for MOAT.

Performance

GPZ vs. MOAT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Alternative Asset Manager ETF (GPZ) and VanEck Morningstar Wide Moat ETF (MOAT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GPZ achieves a -10.76% return, which is significantly lower than MOAT's 5.78% return.

GPZ

• 1D: 3.99%
• 1M: 10.24%
• 6M: -7.66%
• YTD: -10.76%
• 1Y: -11.39%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -2.17%

MOAT

• 1D: 1.36%
• 1M: 3.07%
• 6M: 4.21%
• YTD: 5.78%
• 1Y: 15.84%
• 3Y*: 12.01%
• 5Y*: 9.07%
• 10Y*: 13.61%
• ALL TIME*: 13.91%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
GPZ VanEck Alternative Asset Manager ETF	$3.65M	$3.76M	$4.22M
MOAT VanEck Morningstar Wide Moat ETF	$67.13M	$66.89M	$81.17M

GPZ vs. MOAT - Yearly Performance Comparison

	2026 (YTD)	2025
GPZ VanEck Alternative Asset Manager ETF	-10.76%	9.24%
MOAT VanEck Morningstar Wide Moat ETF	5.78%	15.59%

Correlation

The correlation between GPZ and MOAT is 0.63, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.63
Correlation (All Time) Calculated using the full available price history since Jun 5, 2025	0.65

The correlation between GPZ and MOAT has been stable across timeframes, ranging from 0.63 to 0.65 - a consistent structural relationship.

GPZ vs. MOAT - Sectors Allocation Comparison

Sectors	GPZ	MOAT
Financial Services	100.0%	9.2%
Real Estate	2.3%	0.7%
Basic Materials	-	-
Communication Services	-	2.4%
Consumer Cyclical	-	11.1%
Consumer Defensive	-	18.2%
Energy	-	-
Healthcare	-	18.1%
Industrials	-	9.5%
Technology	-	30.8%
Utilities	-	-

Return for Risk

GPZ vs. MOAT — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

GPZ

GPZ Risk / Return Rank: 6
GPZ Sharpe Ratio Rank: 6
GPZ Sortino Ratio Rank: 6
GPZ Omega Ratio Rank: 6
GPZ Calmar Ratio Rank: 6
GPZ Martin Ratio Rank: 7

MOAT

MOAT Risk / Return Rank: 41
MOAT Sharpe Ratio Rank: 45
MOAT Sortino Ratio Rank: 46
MOAT Omega Ratio Rank: 40
MOAT Calmar Ratio Rank: 37
MOAT Martin Ratio Rank: 37

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

GPZ vs. MOAT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Alternative Asset Manager ETF (GPZ) and VanEck Morningstar Wide Moat ETF (MOAT). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	GPZ	MOAT	Difference
Sharpe ratio: Return per unit of total volatility	-0.41	1.14	-1.55
Sortino ratio: Return per unit of downside risk	-0.39	1.70	-2.09
Omega ratio: Gain probability vs. loss probability	0.95	1.20	-0.24
Calmar ratio: Return relative to maximum drawdown	-0.36	1.28	-1.64
Martin ratio: Return relative to average drawdown	-0.64	3.82	-4.46

GPZ vs. MOAT - Sharpe Ratio Comparison

The current GPZ Sharpe Ratio is -0.41, which is lower than the MOAT Sharpe Ratio of 1.14. The chart below compares the historical Sharpe Ratios of GPZ and MOAT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

GPZ vs. MOAT - Drawdown Comparison

The maximum GPZ drawdown since its inception was -31.72%, roughly equal to the maximum MOAT drawdown of -33.31%. Use the drawdown chart below to compare losses from any high point for GPZ and MOAT.

Drawdown Indicators

	GPZ	MOAT	Difference
Max Drawdown Largest peak-to-trough decline	-31.72%	-33.31%	+1.59%
Max Drawdown (1Y) Largest decline over 1 year	-31.72%	-12.43%	-19.29%
Max Drawdown (3Y) Largest decline over 3 years	—	-21.44%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-23.96%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.31%	—
Current Drawdown Current decline from peak	-18.02%	0.00%	-18.02%
Average Drawdown Average peak-to-trough decline	-13.43%	-3.82%	-9.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	17.76%	4.16%	+13.60%

Volatility

GPZ vs. MOAT - Volatility Comparison

VanEck Alternative Asset Manager ETF (GPZ) has a higher volatility of 7.78% compared to VanEck Morningstar Wide Moat ETF (MOAT) at 4.08%. This indicates that GPZ's price experiences larger fluctuations and is considered to be riskier than MOAT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GPZ	MOAT	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.78%	4.08%	+3.70%
Volatility (6M) Calculated over the trailing 6-month period	22.75%	10.55%	+12.20%
Volatility (1Y) Calculated over the trailing 1-year period	28.06%	14.01%	+14.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.57%	18.30%	+9.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.57%	18.63%	+8.94%

GPZ vs. MOAT - Expense Ratio Comparison

GPZ has a 0.40% expense ratio, which is lower than MOAT's 0.47% expense ratio.

Dividends

GPZ vs. MOAT - Dividend Comparison

GPZ's dividend yield for the trailing twelve months is around 0.93%, less than MOAT's 1.28% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GPZ VanEck Alternative Asset Manager ETF	0.93%	0.83%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
MOAT VanEck Morningstar Wide Moat ETF	1.28%	1.36%	1.37%	0.86%	1.25%	1.08%	1.46%	1.31%	1.79%	1.07%	1.17%	2.13%

Frequently Asked Questions

Can I hold both GPZ and MOAT in my portfolio?

GPZ and MOAT have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GPZ or MOAT?

GPZ has higher volatility (7.78%) compared to MOAT (4.08%). In terms of maximum drawdown, GPZ dropped -31.72% vs MOAT's -33.31%.

Which ETF is better, GPZ or MOAT?

On 1-year performance, MOAT leads with 15.84% vs -11.39% for GPZ. On fees, GPZ is cheaper at 0.40% per year. On volatility, MOAT has been the lower-risk option at 4.08%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GPZ or MOAT?

Over the 1-year period, MOAT has performed better with a 15.84% return vs -11.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GPZ or MOAT?

GPZ is cheaper with a 0.40% expense ratio, compared with 0.47% for MOAT.

Which ETF pays a higher dividend yield, GPZ or MOAT?

MOAT has the higher dividend yield at 1.28%, compared with 0.93% for GPZ.

What is the main difference between GPZ and MOAT?

GPZ is categorized as Financials Equities, while MOAT is Large Cap Blend Equities. GPZ tracks MarketVector Alternative Asset Managers Index, while MOAT tracks Morningstar Wide Moat Focus Index. Their fees differ too: 0.40% for GPZ and 0.47% for MOAT.

Which has better risk-adjusted returns?

MOAT currently has the higher Sharpe Ratio (1.14 vs -0.41), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.