Sector allocations include: information tech 25.0%, financial services 19.9%, health care 15.4%, materials 15.1%, industrials 9.9%, energy 5.2%, utilities 4.9% and consumer discretionary 4.6%.
“We’re pleased to offer this new addition to our ETF suite,” Allison Lovett, Vice President of Marketing, Market Vectors ETFs, told us. “Market Vectors is always looking for global index providers that offer compelling methodologies. In this case, Morningstar’s wide-moat stock selection process certainly stands out among broad equity approaches. We hope that investors find MOAT to be a compelling alternative to S&P-based investments.”
“The Morningstar Wide Moat Focus IndexSM leverages Morningstar’s unique, long-term approach to stock analysis, and includes a collection of undervalued high-quality businesses that are expected to generate returns on capital above their cost of capital,” Sanjay Arya, Senior V.P. of Morningstar Indexes, said in the press release.
For more information on new product launches, visit our new ETFs category.
Max Chen contributed to this article.