SMOG vs. MOAT

Last updated Jun 4, 2026

SMOG (VanEck Low Carbon Energy ETF) and MOAT (VanEck Vectors Morningstar Wide Moat ETF) are both exchange-traded funds - SMOG is a Alternative Energy Equities fund tracking the MVIS Global Low Carbon Energy Index, while MOAT is a Large Cap Blend Equities fund tracking the Morningstar Wide Moat Focus Index. Both are passively managed. Over the past 10 years, SMOG returned 12.70%/yr vs 13.37%/yr for MOAT. A 0.66 correlation means they provide meaningful diversification when combined. SMOG charges 0.61%/yr vs 0.48%/yr for MOAT.

Performance

SMOG vs. MOAT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Low Carbon Energy ETF (SMOG) and VanEck Vectors 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, SMOG achieves a 18.16% return, which is significantly higher than MOAT's -0.94% return. Over the past 10 years, SMOG has underperformed MOAT with an annualized return of 12.70%, while MOAT has yielded a comparatively higher 13.37% annualized return.

SMOG

• 1D: -1.20%
• 1M: 0.08%
• YTD: 18.16%
• 6M: 17.43%
• 1Y: 42.14%
• 3Y*: 10.86%
• 5Y*: 1.76%
• 10Y*: 12.70%

MOAT

• 1D: -1.37%
• 1M: 3.30%
• YTD: -0.94%
• 6M: -0.69%
• 1Y: 14.97%
• 3Y*: 11.34%
• 5Y*: 8.01%
• 10Y*: 13.37%

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

SMOG vs. MOAT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SMOG VanEck Low Carbon Energy ETF	18.16%	33.36%	-9.33%	1.42%	-29.92%	-2.75%	118.38%	38.86%	-10.18%	22.69%
MOAT VanEck Vectors Morningstar Wide Moat ETF	-0.94%	13.20%	10.73%	31.89%	-13.66%	24.12%	14.84%	34.79%	-1.28%	23.18%

Correlation

The correlation between SMOG and MOAT is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.48
Correlation (3Y) Calculated over the trailing 3-year period	0.57
Correlation (5Y) Calculated over the trailing 5-year period	0.63
Correlation (10Y) Calculated over the trailing 10-year period	0.63
Correlation (All Time) Calculated using the full available price history since Apr 26, 2012	0.66

The correlation between SMOG and MOAT shifts across timeframes, from 0.48 (1 year) to 0.66 (all time), reflecting how their relationship changes across market environments.

SMOG vs. MOAT - Sectors Allocation Comparison

Sectors	SMOG	MOAT
Utilities	33.2%	-
Industrials	28.1%	13.5%
Consumer Cyclical	21.7%	10.3%
Technology	8.4%	32.8%
Energy	6.6%	-
Basic Materials	1.2%	-
Financial Services	0.6%	6.7%
Communication Services	-	2.4%
Consumer Defensive	-	17.5%
Healthcare	-	16.0%
Real Estate	-	0.8%

Return for Risk

SMOG vs. MOAT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SMOG

SMOG Risk / Return Rank: 66
SMOG Sharpe Ratio Rank: 62
SMOG Sortino Ratio Rank: 56
SMOG Omega Ratio Rank: 56
SMOG Calmar Ratio Rank: 86
SMOG Martin Ratio Rank: 73

MOAT

MOAT Risk / Return Rank: 27
MOAT Sharpe Ratio Rank: 29
MOAT Sortino Ratio Rank: 29
MOAT Omega Ratio Rank: 27
MOAT Calmar Ratio Rank: 25
MOAT Martin Ratio Rank: 27

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SMOG vs. MOAT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Low Carbon Energy ETF (SMOG) and VanEck Vectors 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.

	SMOG	MOAT	Difference
Sharpe ratio Return per unit of total volatility	2.07	1.09	+0.98
Sortino ratio Return per unit of downside risk	2.69	1.64	+1.05
Omega ratio Gain probability vs. loss probability	1.35	1.19	+0.16
Calmar ratio Return relative to maximum drawdown	4.80	1.21	+3.59
Martin ratio Return relative to average drawdown	13.62	3.77	+9.84
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SMOG vs. MOAT - Sharpe Ratio Comparison

The current SMOG Sharpe Ratio is 2.07, which is higher than the MOAT Sharpe Ratio of 1.09. The chart below compares the historical Sharpe Ratios of SMOG 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.

Sharpe Ratios by Period

	SMOG	MOAT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.07	1.09	+0.98
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.07	0.44	-0.37
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.50	0.72	-0.22
Sharpe Ratio (All Time) Calculated using the full available price history	0.07	0.77	-0.70

Drawdowns

SMOG vs. MOAT - Drawdown Comparison

The maximum SMOG drawdown since its inception was -84.39%, which is greater than MOAT's maximum drawdown of -33.31%. Use the drawdown chart below to compare losses from any high point for SMOG and MOAT.

Drawdown Indicators

	SMOG	MOAT	Difference
Max Drawdown Largest peak-to-trough decline	-84.39%	-33.31%	-51.08%
Max Drawdown (1Y) Largest decline over 1 year	-8.82%	-12.43%	+3.61%
Max Drawdown (3Y) Largest decline over 3 years	-28.72%	-21.44%	-7.28%
Max Drawdown (5Y) Largest decline over 5 years	-47.86%	-23.96%	-23.90%
Max Drawdown (10Y) Largest decline over 10 years	-51.10%	-33.31%	-17.79%
Current Drawdown Current decline from peak	-14.61%	-4.72%	-9.89%
Average Drawdown Average peak-to-trough decline	-52.47%	-3.83%	-48.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.10%	3.98%	-0.88%

Volatility

SMOG vs. MOAT - Volatility Comparison

VanEck Low Carbon Energy ETF (SMOG) has a higher volatility of 7.43% compared to VanEck Vectors Morningstar Wide Moat ETF (MOAT) at 3.82%. This indicates that SMOG'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

	SMOG	MOAT	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.43%	3.82%	+3.61%
Volatility (6M) Calculated over the trailing 6-month period	15.46%	9.87%	+5.59%
Volatility (1Y) Calculated over the trailing 1-year period	20.49%	13.86%	+6.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.12%	18.18%	+6.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.73%	18.68%	+7.05%

SMOG vs. MOAT - Expense Ratio Comparison

SMOG has a 0.61% expense ratio, which is higher than MOAT's 0.48% expense ratio.

Dividends

SMOG vs. MOAT - Dividend Comparison

SMOG's dividend yield for the trailing twelve months is around 1.33%, less than MOAT's 1.37% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MOAT VanEck Vectors Morningstar Wide Moat ETF	1.37%	1.36%	1.37%	0.86%	1.25%	1.08%	1.46%	1.31%	1.79%	1.07%	1.17%	2.13%
SMOG VanEck Low Carbon Energy ETF	1.33%	1.57%	1.64%	1.58%	1.32%	0.44%	0.06%	0.00%	0.62%	1.25%	2.12%	0.56%

Frequently Asked Questions

Can I hold both SMOG and MOAT in my portfolio?

SMOG and MOAT have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SMOG or MOAT?

SMOG has higher volatility (7.43%) compared to MOAT (3.82%). In terms of maximum drawdown, SMOG dropped -84.39% vs MOAT's -33.31%.

Which ETF is better, SMOG or MOAT?

On 10-year performance, MOAT leads with 13.37% vs 12.70% for SMOG. On fees, MOAT is cheaper at 0.48% per year. On volatility, MOAT has been the lower-risk option at 3.82%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SMOG or MOAT?

Over the 10-year period, MOAT has performed better with a 13.37% return vs 12.70%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SMOG or MOAT?

MOAT is cheaper with a 0.48% expense ratio, compared with 0.61% for SMOG.

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

MOAT has the higher dividend yield at 1.37%, compared with 1.33% for SMOG.

What is the main difference between SMOG and MOAT?

SMOG is categorized as Alternative Energy Equities, while MOAT is Large Cap Blend Equities. SMOG tracks MVIS Global Low Carbon Energy Index, while MOAT tracks Morningstar Wide Moat Focus Index. Their fees differ too: 0.61% for SMOG and 0.48% for MOAT.

Which has better risk-adjusted returns?

SMOG currently has the higher Sharpe Ratio (2.07 vs 1.09), 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.