WMW Tracks This Index: Morningstar Wide Moat Focus Total Return Index
Description: The Index is derived from the universe of companies that Morningstar determines have wide moats. A wide-moat company is one that has a maintainable return on invested capital exceeding cost of capital and a sustainable competitive advantage. The Index is comprised of the common stocks of the twenty eligible companies within the Morningstar Wide Moat universe that have the highest ratio of fair value to stock price. The Index is a subset of the Morningstar US Market Index, a market index representing approximately 97% of U.S. equity market capitalization.