The fund normally invests at least 80% of its total assets in securities that comprise the fund's benchmark index. The index is comprised of securities issued by companies that Morningstar, Inc. ("Morningstar") determines to have sustainable competitive advantages based on a proprietary methodology that considers quantitative and qualitative factors ("wide moat companies"). The fund is non-diversified.

LPL Financial Holdings Inc.

The Charles Schwab Corporation

Veeva Systems Inc.

Bristol-Myers Squibb Company

Microsoft Corporation

Airbnb, Inc.

Kenvue Inc.

Masco Corporation

Mondelez International, Inc.

Zimmer Biomet Holdings, Inc.

Technology

Consumer Defensive

Healthcare

Consumer Cyclical

Industrials

Financial Services

Communication Services

Real Estate

Cash & Others

VanEck Morningstar Wide Moat ETF

MOAT Holdings & Sector Breakdown