MOAT vs GBTC

Comparison between VANECK MORNINGSTAR WIDE MOAT ETF (MOAT, ETF) and Grayscale Investments LLC (GBTC, ETF).

5-Year PerformanceGBTC has outperformed MOAT, delivering a return of +8.4% compared to +8.3%

MOAT vs GBTC - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	MOAT(ETF)	GBTC(ETF)
Net Assets	$12B	$12B
Expense Ratio	0.46%	1.50%
Max Drawdown	33.31%	89.91%
Sharpe Ratio	0.83	-0.47
5Y Beta	0.82	1.29
P/E Ratio	25.58	N/A
Forward P/E	18.54	N/A
PEG Ratio	0.88	N/A
5Y Dividends CAGR	10.54%	N/A
5Y EPS CAGR	13.29%	N/A
Debt to Equity	-50.04%	N/A
P/S Ratio	3.09	N/A
P/B Ratio	4.86	N/A

Net Assets

Winner

MOAT

$12B

GBTC

$12B

Expense Ratio

Winner

MOAT

0.46%

GBTC

1.50%

Max Drawdown

Winner

MOAT

33.31%

GBTC

89.91%

Sharpe Ratio

Winner

MOAT

0.83

GBTC

-0.47

5Y Beta

Winner

MOAT

0.82

GBTC

1.29

P/E Ratio

MOAT

25.58

GBTC

N/A

Forward P/E

MOAT

18.54

GBTC

N/A

PEG Ratio

MOAT

0.88

GBTC

N/A

5Y Dividends CAGR

MOAT

10.54%

GBTC

N/A

5Y EPS CAGR

MOAT

13.29%

GBTC

N/A

Debt to Equity

MOAT

-50.04%

GBTC

N/A

P/S Ratio

MOAT

3.09

GBTC

N/A

P/B Ratio

MOAT

4.86

GBTC

N/A

MOAT vs GBTC - Holdings Comparison

MOAT and GBTC have 0 common holdings. Overlap is 0.00%

MOAT's top 25 holdings weight is 59.88%. GBTC's top 25 holdings weight is 12.55%.

Rank	MOAT	GBTC
#1	NXP SEMICONDUCTORS NV (NXPI) - 3.48%	GRAYSCALE BITCOIN MINI TRUST (BTC) (BTC) - 12.55%
#2	MASCO CORP (MAS) - 2.87%	N/A
#3	AIRBNB INC ORDINARY SHARES CLASS A (ABNB) - 2.83%	N/A
#4	MONDELEZ INTERNATIONAL INC CLASS A (MDLZ) - 2.83%	N/A
#5	FORTINET INC (FTNT) - 2.79%	N/A
#6	NVIDIA CORP (NVDA) - 2.74%	N/A
#7	CONSTELLATION BRANDS INC CLASS A (STZ) - 2.65%	N/A
#8	BRISTOL-MYERS SQUIBB CO (BMY) - 2.64%	N/A
#9	KENVUE INC (KVUE) - 2.61%	N/A
#10	BROWN-FORMAN CORP REGISTERED SHS -B- NON VTG (BF-B) - 2.52%	N/A
#11	LPL FINANCIAL HOLDINGS INC (LPLA) - 2.52%	N/A
#12	ZOETIS INC CLASS A (ZTS) - 2.42%	N/A
#13	MICROSOFT CORP (MSFT) - 2.39%	N/A
#14	ZIMMER BIOMET HOLDINGS INC (ZBH) - 2.33%	N/A
#15	OTIS WORLDWIDE CORP ORDINARY SHARES (OTIS) - 2.28%	N/A
#16	TRANSUNION (TRU) - 2.27%	N/A
#17	THE ESTEE LAUDER COMPANIES INC CLASS A (EL) - 2.21%	N/A
#18	DANAHER CORP (DHR) - 2.14%	N/A
#19	CLOROX CO (CLX) - 2.11%	N/A
#20	TYLER TECHNOLOGIES INC (TYL) - 2.10%	N/A
#21	GE HEALTHCARE TECHNOLOGIES INC COMMON STOCK (GEHC) - 1.99%	N/A
#22	BROADRIDGE FINANCIAL SOLUTIONS INC (BR) - 1.95%	N/A
#23	NIKE INC CLASS B (NKE) - 1.88%	N/A
#24	AMAZON.COM INC (AMZN) - 1.67%	N/A
#25	ENTEGRIS INC (ENTG) - 1.66%	N/A
Total Holdings	58	1

MOAT vs GBTC - Historical Returns

Returns include dividend reinvestment.

Period	MOAT	GBTC
1 month	+0.61%	+9.98%
3 months	-4.41%	+23.24%
6 months	-0.65%	-21.01%
1 year	+11.41%	-21.83%
5 years(CAGR)	+8.28%	+8.39%
10 years(CAGR)	+13.57%	+56.52%
Max(CAGR)	+13.39%	+57.77%

MOAT

+0.61%

Winner

GBTC

+9.98%

MOAT

-4.41%

Winner

GBTC

+23.24%

Winner

MOAT

-0.65%

GBTC

-21.01%

Winner

MOAT

+11.41%

GBTC

-21.83%

5Y(CAGR)

MOAT

+8.28%

Winner

GBTC

+8.39%

10Y(CAGR)

MOAT

+13.57%

Winner

GBTC

+56.52%

Max(CAGR)

MOAT

+13.39%

Winner

GBTC

+57.77%

MOAT vs GBTC - Annual Returns (2012 - 2026)

Returns include dividend reinvestment.

Year	MOAT	GBTC
2026	-3.48%	-10.48%
2025	+13.88%	-11.46%
2024	+11.05%	+100.87%
2023	+31.18%	+322.20%
2022	-14.12%	-75.81%
2021	+25.53%	-2.37%
2020	+13.81%	+301.00%
2019	+34.59%	+77.27%
2018	-2.52%	-84.05%
2017	+21.47%	+1558.98%
2016	+22.77%	+90.08%
2015	-4.92%	+50.01%
2014	+10.27%	N/A
2013	+27.51%	N/A
2012	+9.65%	N/A

MOAT vs GBTC Drawdown Comparison

The maximum drawdown for MOAT was -33.31%, occurring on Mar 23, 2020. Recovery took 80 trading sessions.

The maximum drawdown for GBTC was -89.91%, occurring on Dec 14, 2018. Recovery took 766 trading sessions.

The current MOAT drawdown is -7.20%. The current GBTC drawdown is -36.21%.

Rank	MOAT	GBTC
#1	-33.31% Feb 12, 2020 - Jun 8, 2020	-89.91% Dec 18, 2017 - Jan 5, 2021
#2	-23.95% Nov 5, 2021 - Jun 2, 2023	-86.24% Feb 19, 2021 - Mar 4, 2024
#3	-21.44% Nov 25, 2024 - Jul 10, 2025	-57.96% May 5, 2015 - Dec 8, 2015
#4	-16.11% Sep 21, 2018 - Feb 15, 2019	-49.55% Oct 6, 2025 - Feb 5, 2026
#5	-15.09% Jul 31, 2023 - Dec 13, 2023	-48.42% Aug 31, 2017 - Nov 3, 2017
#6	-14.59% Nov 21, 2014 - Apr 13, 2016	-41.48% Jun 17, 2016 - Jan 3, 2017
#7	-12.43% Jan 15, 2026 - Mar 27, 2026	-36.93% Dec 15, 2015 - Apr 21, 2016
#8	-11.96% May 1, 2012 - Aug 16, 2012	-36.68% Jun 6, 2017 - Aug 10, 2017
#9	-11.94% Jan 26, 2018 - Aug 20, 2018	-35.04% Mar 13, 2024 - Nov 11, 2024
#10	-10.46% Jun 8, 2020 - Aug 27, 2020	-30.26% Jan 7, 2021 - Feb 8, 2021
#11	-8.54% Sep 2, 2020 - Nov 9, 2020	-28.76% Jan 4, 2017 - May 1, 2017
#12	-8.17% May 3, 2019 - Jul 12, 2019	-28.45% Dec 17, 2024 - May 21, 2025
#13	-7.43% Sep 14, 2012 - Dec 18, 2012	-19.31% May 9, 2017 - May 22, 2017
#14	-7.19% Jun 6, 2016 - Jul 12, 2016	-18.18% May 9, 2016 - May 31, 2016
#15	-6.85% Jul 26, 2019 - Sep 11, 2019	-15.79% Nov 3, 2017 - Nov 20, 2017

Correlation

Correlation between MOAT and GBTC is 0.88 which considered as a strong positive correlation - the stocks tend to move together.

0.88

-101

Dividend Comparison (2012 - 2025)

MOAT vs GBTC dividend yield comparison.

Year	MOAT	GBTC
2025	1.36%	0.00%
2024	1.37%	0.00%
2023	0.86%	0.00%
2022	1.25%	0.00%
2021	1.08%	0.00%
2020	1.46%	0.00%
2019	1.31%	0.00%
2018	1.79%	0.00%
2017	1.07%	5.61%
2016	1.17%	0.00%
2015	2.13%	0.00%
2014	1.34%	0.00%
2013	0.79%	0.00%
2012	0.61%	0.00%