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Description
The VanEck Vectors Morningstar Wide Moat ETF seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Morningstar Wide Moat Focus Index (MWMFTR), which is intended to track the overall performance of attractively priced companies with sustainable competitive advantages according to Morningstars equity research team. Expenses for MOAT are capped contractually at 0.49% until at least February 1, 2018. Cap excludes certain expenses, such as interest.