GOAT - VanEck Vectors Morningstar World ex Australia Wide Moat ETF
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VanEck Vectors Morningstar World ex Australia Wide Moat ETF GOAT

Fund description: GOAT gives investors exposure to a diversified portfolio of attractively priced international 'wide moat' companies with sustainable competitive advantages for 20 years or more. GOAT aims to provide investment returns before fees and other costs which track the performance of the Index.

Index description: The Morningstar® Developed Markets ex-Australia Wide Moat Focus Index is a rules-based index intended to track the overall performance of attractively priced developed markets ex-Australia companies with sustainable competitive advantages according to Morningstar's equity research team.      

Management style: Replication

Country of domicile: Australia

 as at 26-Feb-21

  • Exchange

    ASX
  • ASX code

    GOAT
  • Bloomberg index code

    MSDIWFNA
  • Index provider

    Morningstar
  • NAV1

    $20.74
  • Units outstanding1

    500,000
  • Net assets1

    $10.4M
  • Number of holdings1

    71
  • Inception date2

    08-Sep-20
  • ASX commencement

    10-Sep-20
1As of the close of the previous trading day.
2The date the ETF was seeded prior to quotation on ASX.

as at 26-Feb-21

The NAV is generally calculated daily after all markets are closed for that day based on the closing price of the securities on the relevant foreign stock exchange. The NAV is then converted to AUD based on the relevant London WM Reuters 4pm exchange rate. This means, due to Australia’s time zone, that the NAV will generally not be updated until around 12pm next business day.
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Key points

Underlying Index 
Morningstar® Developed Markets ex-Australia Wide Moat Focus Index

The Index Composition
The Index contains at least 50 and up to 100 international companies with sustainable competitive advantages trading at attractive valuations according to Morningstar.

Companies eligible for inclusion in the Index

  • Derived from Morningstar® Developed Markets ex-Australia Index™ (Parent Index)
  • Assigned an Economic Moat™ rating of 'wide' by Morningstar's equity research team
  • Assigned a fair value estimate by Morningstar's equity research team


Methodology highlights

Momentum screen: securities in the bottom 20% as ranked by 12-month price change at the time of review are excluded

Staggered reconstitution

Index is divided into two equally-weighted sub-portfolios, and each is reconstituted and rebalanced semi-annually on alternating quarters.

Each sub-portfolio will contain 50 equally-weighted securities at its semi-annual reconstitution and weights will vary with market prices until the next reconstitution date.

Each sub-portfolio is reweighted to 50% of the total index every six months.

Buffer rule

At each quarterly review, current index constituents ranked within the top 100 of the eligible universe based on current market price/fair value ratio are given preference for inclusion

From among the remaining eligible securities, those with the lowest current market price/fair value ratios are included in the index.

Sector/country cap: The greater of 40% or corresponding weight in Parent Index +10%


Index provider
Morningstar Australasia Pty Ltd. Morningstar is not a related body corporate of VanEck.

The Morningstar® Developed Markets ex-Australia Wide Moat Focus Index and the Morningstar® Developed Markets ex-Australia Index ('The Morningstar Indices') are created and maintained by Morningstar, Inc. Morningstar, Inc. does not sponsor, endorse, issue, sell, or promote GOAT and bears no liability with respect to GOAT or any security. Morningstar®, the Morningstar Indices and Morningstar Economic Moat are trademarks of Morningstar, Inc. and have been licensed for use by VanEck.

Index profile  

  • Bloomberg index code

    MSDIWFNA
  • Base date

    21-Dec-07
  • Rebalance frequency

    Semi-annually, Staggered quarterly

Top ten index constituents (%) as at 31-Jan-21

Total constituents: 71
Constituent name
TIcker
Weightings (%)
NABTESCO CORP
6268 JP
2.48
CORTEVA INC
CTVA US
2.32
POLARIS INDUSTRIES INC
PII US
2.30
JULIUS BAER GROUP LTD
BAER VX
2.27
ABB LTD-REG
ABBN VX
2.18
MICROSOFT CORP
MSFT US
2.09
CERNER CORP
CERN US
2.09
ZIMMER HOLDINGS INC
ZMH US
2.08
EMERSON ELECTRIC CO
EMR US
2.06
COMCAST CORP-CLASS A
CMCSA US
2.06
Top ten total (%) 21.93
These are not recommendations to buy or to sell any security. Securities and holdings may vary.

Index country weightings (%) as of 31-Jan-21

  • Country

    Weightings (%)
  • United States

    66.5
  • Switzerland

    9.5
  • United Kingdom

    6.6
  • Japan

    5.7
  • Canada

    4.0
  • Germany

    2.8
  • France

    1.8
  • Sweden

    1.1
  • Denmark

    1.0
  • Ireland

    1.0
  • Total

    100.0

Index sector weightings (%) as at 31-Jan-21

  • Sector

    Weightings (%)
  • Health Care

    24.2
  • Industrials

    16.9
  • Consumer Staples

    14.0
  • Information Technology

    13.9
  • Financials

    10.4
  • Consumer Discretionary

    8.4
  • Communication Services

    5.2
  • Materials

    4.2
  • Utilities

    1.8
  • Energy

    1.0
  • Total

    100.0