VANECK MORNINGSTAR US SMID MOAT UCITS ETF

Benchmark

The Morningstar US Small-Mid Cap Moat Focus Index is designed to provide exposure to companies in the Morningstar US Small-Mid Cap Index with Morningstar Economic Moat™ Ratings of wide or narrow that are trading at the lowest current market price/fair value ratios. Moat ratings and fair value estimates are determined through independent research conducted by the Morningstar Equity Research team.

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