Launched on 04/24/2012, the VanEck Morningstar Wide Moat ETF (MOAT) is a smart beta exchange traded fund offering broad exposure to the Style Box - Large Cap Blend category of the market.What Are Smart Beta ETFs?The ETF industry has traditionally been dominated by products based on market capitalization weighted indexes that are designed to represent the market or a particular segment of the market.Market cap weighted indexes offer a low-cost, convenient, and transparent way of replicating market returns, a ...