SMOT vs. MOAT

Last updated Jun 24, 2026

SMOT (VanEck Morningstar SMID Moat ETF) and MOAT (VanEck Morningstar Wide Moat ETF) are both exchange-traded funds - SMOT is a Mid Cap Blend Equities fund tracking the Morningstar US Small-Mid Cap Moat Focus, while MOAT is a Large Cap Blend Equities fund tracking the Morningstar Wide Moat Focus Index. Both are passively managed. Over the past 3 years, SMOT returned 10.86%/yr vs 10.36%/yr for MOAT. Their correlation of 0.90 suggests significant overlap in exposure. SMOT charges 0.49%/yr vs 0.47%/yr for MOAT.

Performance

SMOT vs. MOAT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Morningstar SMID Moat ETF (SMOT) 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, SMOT achieves a 5.03% return, which is significantly higher than MOAT's -2.39% return.

SMOT

• 1D: -0.42%
• 1M: 0.57%
• YTD: 5.03%
• 6M: 4.05%
• 1Y: 13.46%
• 3Y*: 10.86%
• 5Y*: —
• 10Y*: —

MOAT

• 1D: 0.09%
• 1M: -1.13%
• YTD: -2.39%
• 6M: -2.98%
• 1Y: 12.04%
• 3Y*: 10.36%
• 5Y*: 7.68%
• 10Y*: 13.64%

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

SMOT vs. MOAT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
SMOT VanEck Morningstar SMID Moat ETF	5.03%	6.46%	10.71%	17.31%	3.85%
MOAT VanEck Morningstar Wide Moat ETF	-2.39%	13.20%	10.73%	31.89%	2.73%

Correlation

The correlation between SMOT and MOAT is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.87
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (All Time) Calculated using the full available price history since Oct 6, 2022	0.90

The correlation between SMOT and MOAT has been stable across timeframes, ranging from 0.87 to 0.90 - a consistent structural relationship.

SMOT vs. MOAT - Sectors Allocation Comparison

Sectors	SMOT	MOAT
Technology	22.2%	33.8%
Healthcare	18.8%	15.9%
Consumer Cyclical	13.4%	7.3%
Industrials	11.7%	13.8%
Consumer Defensive	7.9%	17.0%
Basic Materials	7.6%	-
Financial Services	5.9%	9.0%
Energy	4.5%	-
Utilities	2.7%	-
Real Estate	2.6%	0.8%
Communication Services	2.4%	2.4%

Return for Risk

SMOT vs. MOAT — Risk / Return Rank

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

SMOT

SMOT Risk / Return Rank: 29
SMOT Sharpe Ratio Rank: 28
SMOT Sortino Ratio Rank: 28
SMOT Omega Ratio Rank: 25
SMOT Calmar Ratio Rank: 32
SMOT Martin Ratio Rank: 34

MOAT

MOAT Risk / Return Rank: 23
MOAT Sharpe Ratio Rank: 25
MOAT Sortino Ratio Rank: 24
MOAT Omega Ratio Rank: 22
MOAT Calmar Ratio Rank: 22
MOAT Martin Ratio Rank: 24

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.

SMOT vs. MOAT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Morningstar SMID Moat ETF (SMOT) 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.

	SMOT	MOAT	Difference
Sharpe ratio: Return per unit of total volatility	0.94	0.87	+0.08
Sortino ratio: Return per unit of downside risk	1.47	1.32	+0.15
Omega ratio: Gain probability vs. loss probability	1.17	1.15	+0.01
Calmar ratio: Return relative to maximum drawdown	1.52	0.97	+0.54
Martin ratio: Return relative to average drawdown	4.83	2.92	+1.90

SMOT vs. MOAT - Sharpe Ratio Comparison

The current SMOT Sharpe Ratio is 0.94, which is comparable to the MOAT Sharpe Ratio of 0.87. The chart below compares the historical Sharpe Ratios of SMOT 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

SMOT vs. MOAT - Drawdown Comparison

The maximum SMOT drawdown since its inception was -23.36%, smaller than the maximum MOAT drawdown of -33.31%. Use the drawdown chart below to compare losses from any high point for SMOT and MOAT.

Drawdown Indicators

	SMOT	MOAT	Difference
Max Drawdown Largest peak-to-trough decline	-23.36%	-33.31%	+9.95%
Max Drawdown (1Y) Largest decline over 1 year	-8.91%	-12.43%	+3.52%
Max Drawdown (3Y) Largest decline over 3 years	-23.36%	-21.44%	-1.92%
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	-2.78%	-6.12%	+3.34%
Average Drawdown Average peak-to-trough decline	-4.79%	-3.83%	-0.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.79%	4.13%	-1.34%

Volatility

SMOT vs. MOAT - Volatility Comparison

VanEck Morningstar SMID Moat ETF (SMOT) and VanEck Morningstar Wide Moat ETF (MOAT) have volatilities of 4.83% and 4.72%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SMOT	MOAT	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.83%	4.72%	+0.11%
Volatility (6M) Calculated over the trailing 6-month period	10.08%	10.23%	-0.15%
Volatility (1Y) Calculated over the trailing 1-year period	14.35%	13.99%	+0.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.44%	18.24%	+0.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.44%	18.65%	-0.21%

SMOT vs. MOAT - Expense Ratio Comparison

SMOT has a 0.49% expense ratio, which is higher than MOAT's 0.47% expense ratio.

Dividends

SMOT vs. MOAT - Dividend Comparison

SMOT's dividend yield for the trailing twelve months is around 1.31%, less than MOAT's 1.39% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MOAT VanEck Morningstar Wide Moat ETF	1.39%	1.36%	1.37%	0.86%	1.25%	1.08%	1.46%	1.31%	1.79%	1.07%	1.17%	2.13%
SMOT VanEck Morningstar SMID Moat ETF	1.31%	1.37%	1.18%	0.65%	0.24%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SMOT and MOAT in my portfolio?

SMOT and MOAT have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SMOT or MOAT?

SMOT has higher volatility (4.83%) compared to MOAT (4.72%). In terms of maximum drawdown, SMOT dropped -23.36% vs MOAT's -33.31%.

Which ETF is better, SMOT or MOAT?

On 3-year performance, SMOT leads with 10.86% vs 10.36% for MOAT. On fees, MOAT is cheaper at 0.47% per year. On volatility, MOAT has been the lower-risk option at 4.72%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SMOT or MOAT?

Over the 3-year period, SMOT has performed better with a 10.86% return vs 10.36%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SMOT or MOAT?

MOAT is cheaper with a 0.47% expense ratio, compared with 0.49% for SMOT.

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

MOAT has the higher dividend yield at 1.39%, compared with 1.31% for SMOT.

What is the main difference between SMOT and MOAT?

SMOT is categorized as Mid Cap Blend Equities, while MOAT is Large Cap Blend Equities. SMOT tracks Morningstar US Small-Mid Cap Moat Focus, while MOAT tracks Morningstar Wide Moat Focus Index. Their fees differ too: 0.49% for SMOT and 0.47% for MOAT.

Which has better risk-adjusted returns?

SMOT currently has the higher Sharpe Ratio (0.94 vs 0.87), 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.