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The era of frictionless software scaling has violently collided with physical reality. Capital is flowing out of technology names and into the hard assets, baseload power generation, and silicon foundries required to sustain the artificial intelligence supercycle.
The VanEck Morningstar Wide Moat ETF (MOAT) was launched on April 24, 2012, and is a passively managed exchange traded fund designed to offer broad exposure to the Large Cap Blend segment of the US equity market.
Outdoor Holding Company operates GunBroker.com, the leading US firearms auction platform, now a pure-play e-commerce business after divesting its ammunition unit. POWW is gaining market share, with unit sales up 8.7% YoY and GMV rising 11.8% to $229M, outpacing industry NICS checks. Operational enhancements—FFL transfer integration, universal payments, and AI-driven tools—are expected to drive incremental sales, service revenue, and conversion rates.
Record ETF inflows and a new fee war in the Nasdaq 100 category were among the highlights on this week's ETF Prime. Host Nate Geraci welcomed Todd Rosenbluth, head of research at VettaFi, followed by Brian Walsh, head of advice and planning at SoFi.
Wall Street is caught in the midst of shifting geopolitical stances of the United States and Iran, chances of higher global inflation, weak U.S. jobs data, the possibility of stagflation in the U.S. economy, and the Fed's likely dilemma in fixing the monetary policy amid a weakening labor market and accelerating inflation. Also, the occasional selloffs in the red-hot artificial intelligence (AI) space have been a steady concern.
AI-driven moat rating downgrades played a major role in the Moat Index's Q2 review, reshaping tech exposure while surfacing attractively priced opportunities across other sectors. Key Takeaways Morningstar's March reassessment of software companies drove a larger-than-usual portion of the Index's turnover this quarter.
MOAT is comprised of two sub-portfolios of U.S. securities with low price-to-fair market value ratios and "wide moat" ratings from Morningstar. Its expense ratio is 0.46%. On the surface, MOAT's 24.34x trailing P/E ratio appears expensive for a value-oriented ETF, especially when weighed against SPY's 26.86x P/E. However, my analysis reveals a 24% "discount to itself" based on its constituents' 5Y average P/E ratios. That discount is the 16th highest among 884 U.S. Size & Style ETFs.
Investors buy the ARK Innovation ETF (NYSEARCA:ARKK) when they want concentrated exposure to disruptive innovation: electric vehicles, genomics, fintech, autonomy, and AI.
Full call transcripts — prepared remarks + analyst Q&A — with speaker-by-speaker formatting and one-click switching across every quarter on file.
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Transcripts source: company-published earnings calls. Speaker attribution and formatting are processed in-app.