XMPT vs. MOAT

Last updated Jun 4, 2026

XMPT (VanEck CEF Municipal Income ETF) and MOAT (VanEck Vectors Morningstar Wide Moat ETF) are both exchange-traded funds - XMPT is a High Yield Muni fund tracking the S-Network Municipal Bond Closed-End Fund 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, XMPT returned 1.94%/yr vs 13.37%/yr for MOAT. At a 0.16 correlation, their price movements are largely independent. XMPT charges 1.97%/yr vs 0.48%/yr for MOAT.

Performance

XMPT vs. MOAT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck CEF Municipal Income ETF (XMPT) 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, XMPT achieves a 2.34% return, which is significantly higher than MOAT's -0.94% return. Over the past 10 years, XMPT has underperformed MOAT with an annualized return of 1.94%, while MOAT has yielded a comparatively higher 13.37% annualized return.

XMPT

• 1D: -0.37%
• 1M: 1.78%
• YTD: 2.34%
• 6M: 2.46%
• 1Y: 11.93%
• 3Y*: 7.25%
• 5Y*: -1.17%
• 10Y*: 1.94%

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)

XMPT vs. MOAT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XMPT VanEck CEF Municipal Income ETF	2.34%	8.01%	7.01%	2.55%	-24.02%	7.94%	7.70%	20.36%	-5.85%	8.28%
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 XMPT and MOAT is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.34
Correlation (3Y) Calculated over the trailing 3-year period	0.35
Correlation (5Y) Calculated over the trailing 5-year period	0.35
Correlation (10Y) Calculated over the trailing 10-year period	0.23
Correlation (All Time) Calculated using the full available price history since Apr 26, 2012	0.16

The correlation between XMPT and MOAT shifts across timeframes, from 0.16 (all time) to 0.35 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

XMPT vs. MOAT — Risk / Return Rank

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

XMPT

XMPT Risk / Return Rank: 47
XMPT Sharpe Ratio Rank: 48
XMPT Sortino Ratio Rank: 50
XMPT Omega Ratio Rank: 53
XMPT Calmar Ratio Rank: 37
XMPT Martin Ratio Rank: 45

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.

XMPT vs. MOAT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck CEF Municipal Income ETF (XMPT) 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.

	XMPT	MOAT	Difference
Sharpe ratio Return per unit of total volatility	1.66	1.09	+0.57
Sortino ratio Return per unit of downside risk	2.46	1.64	+0.82
Omega ratio Gain probability vs. loss probability	1.33	1.19	+0.14
Calmar ratio Return relative to maximum drawdown	1.82	1.21	+0.61
Martin ratio Return relative to average drawdown	7.45	3.77	+3.68
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XMPT vs. MOAT - Sharpe Ratio Comparison

The current XMPT Sharpe Ratio is 1.66, which is higher than the MOAT Sharpe Ratio of 1.09. The chart below compares the historical Sharpe Ratios of XMPT 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

	XMPT	MOAT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.66	1.09	+0.57
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.13	0.44	-0.57
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.19	0.72	-0.53
Sharpe Ratio (All Time) Calculated using the full available price history	0.42	0.77	-0.35

Drawdowns

XMPT vs. MOAT - Drawdown Comparison

The maximum XMPT drawdown since its inception was -35.24%, which is greater than MOAT's maximum drawdown of -33.31%. Use the drawdown chart below to compare losses from any high point for XMPT and MOAT.

Drawdown Indicators

	XMPT	MOAT	Difference
Max Drawdown Largest peak-to-trough decline	-35.24%	-33.31%	-1.93%
Max Drawdown (1Y) Largest decline over 1 year	-6.57%	-12.43%	+5.86%
Max Drawdown (3Y) Largest decline over 3 years	-15.04%	-21.44%	+6.40%
Max Drawdown (5Y) Largest decline over 5 years	-35.24%	-23.96%	-11.28%
Max Drawdown (10Y) Largest decline over 10 years	-35.24%	-33.31%	-1.93%
Current Drawdown Current decline from peak	-8.94%	-4.72%	-4.22%
Average Drawdown Average peak-to-trough decline	-8.82%	-3.83%	-4.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.60%	3.98%	-2.38%

Volatility

XMPT vs. MOAT - Volatility Comparison

The current volatility for VanEck CEF Municipal Income ETF (XMPT) is 2.69%, while VanEck Vectors Morningstar Wide Moat ETF (MOAT) has a volatility of 3.82%. This indicates that XMPT experiences smaller price fluctuations and is considered to be less risky than MOAT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XMPT	MOAT	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.69%	3.82%	-1.13%
Volatility (6M) Calculated over the trailing 6-month period	6.03%	9.87%	-3.84%
Volatility (1Y) Calculated over the trailing 1-year period	7.21%	13.86%	-6.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.35%	18.18%	-8.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.36%	18.68%	-8.32%

XMPT vs. MOAT - Expense Ratio Comparison

XMPT has a 1.97% expense ratio, which is higher than MOAT's 0.48% expense ratio.

Dividends

XMPT vs. MOAT - Dividend Comparison

XMPT's dividend yield for the trailing twelve months is around 6.34%, more 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%
XMPT VanEck CEF Municipal Income ETF	6.34%	5.87%	5.35%	3.81%	5.12%	3.74%	3.79%	4.08%	5.05%	4.84%	5.35%	5.24%

Frequently Asked Questions

Can I hold both XMPT and MOAT in my portfolio?

XMPT and MOAT have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XMPT or MOAT?

MOAT has higher volatility (3.82%) compared to XMPT (2.69%). In terms of maximum drawdown, XMPT dropped -35.24% vs MOAT's -33.31%.

Which ETF is better, XMPT or MOAT?

On 10-year performance, MOAT leads with 13.37% vs 1.94% for XMPT. On fees, MOAT is cheaper at 0.48% per year. On volatility, XMPT has been the lower-risk option at 2.69%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XMPT or MOAT?

Over the 10-year period, MOAT has performed better with a 13.37% return vs 1.94%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XMPT or MOAT?

MOAT is cheaper with a 0.48% expense ratio, compared with 1.97% for XMPT.

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

XMPT has the higher dividend yield at 6.34%, compared with 1.37% for MOAT.

What is the main difference between XMPT and MOAT?

XMPT is categorized as High Yield Muni, while MOAT is Large Cap Blend Equities. XMPT tracks S-Network Municipal Bond Closed-End Fund Index, while MOAT tracks Morningstar Wide Moat Focus Index. Their fees differ too: 1.97% for XMPT and 0.48% for MOAT.

Which has better risk-adjusted returns?

XMPT currently has the higher Sharpe Ratio (1.66 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.