ETF Evaluator:
VanEck Morningstar SMID Moat ETF ()
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(as of Aug 26)
Best Performing in Mid-Cap Blend Over the Last Year
| 58.8% | Castellan Targeted Equity ETF (CTEF) |
| 53.8% | Invesco S&P Spin-Off ETF (CSD) |
| 43.0% | Counterpoint Quantitative Equity ETF (CPAI) |
| 40.8% | Optimize Strategy Index ETF (OPTZ) |
| 37.3% | Tema U.S. Manufacturing & Reshoring ETF (WELD) |
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ETF Details
VanEck Morningstar SMID Moat ETF Overview
VanEck Morningstar SMID Moat ETF (SMOT) is a passively managed U.S. Equity Mid-Cap Blend exchange-traded fund (ETF). VanEck launched the ETF in 2022.
The investment seeks to track as closely as possible, before fees and expenses, the price and yield performance of the Morningstar® US Small-Mid Cap Moat Focus IndexSM.
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 small- and medium-capitalization companies as defined by Morningstar, that Morningstar determines have sustainable competitive advantages based on a proprietary methodology that considers quantitative and qualitative factors. It is non-diversified.
About VanEck Morningstar SMID Moat ETF (SMOT)
There are 2 members of the management team with an average tenure of 3.16 years: Peter Liao (2022) and Griffin Driscoll (2024). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: S&P 500 (TR) (1970) index with a weighting of 100% and Morningstar US SMID Moat Focus TR USD index with a weighting of 100%. VanEck Morningstar SMID Moat ETF has 111 securities in its portfolio. The top 10 holdings constitute 15.0% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
VanEck Morningstar SMID Moat ETF is part of the Equity global asset class and is within the U.S. Equity ETF group. VanEck Morningstar SMID Moat ETF has 1.4% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 98.6% There is 1.4% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). VanEck Morningstar SMID Moat ETF has 0.0% of the portfolio in cash.
Assets Under Management
The fund has $328 million in total assets, which is below the $4 billion average for the Mid-Cap Blend category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
SMOT Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The VanEck Morningstar SMID Moat ETF expense ratio is average compared to funds in the Mid-Cap Blend category. VanEck Morningstar SMID Moat ETF has an expense ratio of 0.49%, which is 9% higher than its category average, making the fund expense ratio grade a C. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. VanEck Morningstar SMID Moat ETF has a portfolio turnover rate of 77%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 84% for the Mid-Cap Blend category.
Recently, in the month of July 2026, VanEck Morningstar SMID Moat ETF returned 1.8%, which earned it a grade of A, as the Mid-Cap Blend category had an average return of -1.6%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
VanEck Morningstar SMID Moat ETF has a trailing yield of 1.26%, which is above the 0.85% category average.
The fund normally distributes its income annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
VanEck Morningstar SMID Moat ETF Grades
Year to date, the ETF has returned 9.3%, 4.7 percentage points worse than the category, which translates into a grade of F. The fund has returned 13.1% over the past year (grade of F) and 9.4% over the past three years (grade of F).
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SMOT Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| SMOT Return (NAV) | 1.8% | 5.9% | 13.1% | 9.4% | na | na |
| SMOT Return (Price) | 1.7% | 5.9% | 13.0% | 9.3% | na | na |
| NAV +/- Price Return | 0.025% | 0.061% | 0.086% | 0.040% | na | na |
| Mid-Cap Blend Avg | -1.6% | 4.4% | 20.8% | 14.8% | 8.8% | 11.6% |
| SMOT Grade (NAV) | A | B | F | F | na | na |
| +/- Category (NAV) | 3.4% | 1.6% | -7.6% | -5.4% | na | na |
| SMOT Tax-Cost Ratio | na | na | 0.6% | 0.4% | na | na |
SMOT Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| SMOT Return (NAV) | 9.3% | 6.5% | 10.8% | 17.3% | na | na | na | na | na | na | na |
| SMOT Return (Price) | 9.2% | 6.4% | 10.7% | 17.3% | na | na | na | na | na | na | na |
| NAV +/- Price Ret | -0.006% | -0.005% | -0.010% | 0.001% | na | na | na | na | na | na | na |
| Mid-Cap Blend Avg | 14.0% | 10.6% | 16.1% | 16.9% | -14.4% | 23.3% | 15.6% | 27.4% | -9.1% | 19.1% | 14.8% |
| SMOT Grade (NAV) | F | F | F | C | na | na | na | na | na | na | na |
| +/- Category | -4.7% | -4.2% | -5.3% | 0.3% | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | 1.02 |
| R-Squared: | 68% |
| Standard Deviation: | 16.2% |
| Category Risk Index: | 1.03 |
| Category Risk Rating: | Above Average |
| Total Risk Index: | 1.32 |
| Total Risk Rating: | Above Average |
| Portfolio Characteristics | |
| Yield: | 1.3% |
| Total Assets: | $ 328 Mil |
| Share Class Assets: | $ 328 Mil |
| Turnover: | 77.0% |
| Expense Ratio: | 0.49% |
| Index Fund: | Yes |
| Index Tracked: | S&P 500 (TR) (1970) |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Annually |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 3.8 years | |||
| Average Tenure: 3.2 years | |||
| Managers (Year): Liao Peter (2022), Driscoll Griffin (2024) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 111 |
| % in Top 10 Holdings: | 15.0% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 1.4% |
Portfolio Allocation |
|
| Domestic Stock: | 98.6% |
| Foreign Stock: | 1.4% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.0% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | VanEck |
| Phone Number: | 800-826-2333 |
| Website: | www.marketvectorsetfs.com |
| Inception Date: | October 4, 2022 |
Expenses and Fees
| Expense Ratio (%): | 0.49% (Rating: Avg) |
| Category Average Expense Ratio (%): | 0.45% |
