Top Moat Stocks in 2020: Veeva, ServiceNow and Amazon The SM (the “Index”) finished 2020 on a strong note, outpacing the S&P 500 Index by over 3% in the fourth quarter (15.28% vs. 12.15%, respectively). Its strong performance erased much of its mid-year underperformance but wasn’t enough to close the gap for the year, ending behind the S&P 500 (15.09% vs. 18.40%, respectively). This was the first year in which the Index underperformed the S&P 500 by a notable amount since its 2014 and 2015 underperformance, which was followed by a very strong 2016 and subsequent years of impressive excess returns. Index Calendar Year Return (%) -19.58
Source: Morningstar. Data as of 12/31/2020.Performance data quoted represents past performance. Past performance is not a guarantee of future results. Index performance is not illustrative of fund performance. Prior to 4/24/2012, VanEck Vectors Morningstar Wide Moat ETF had no operating history. For fund performance current to the most recent month-end, visit vaneck.com.