Vaults
577 active vaults across 11 chains · $2.03B AUM · $4.04M curator fees annualized · $61.07M borrow interest captured
Vaults as asset managers · Source: Morpho GraphQL · vault_state_daily · as of 2026-09-10
Top 10 vaults by AUM
Bars colored by chain · hover for net APY delivered + curator.
Vault performance landscape
Fee rate vs net APY delivered. Bubble size = AUM, color = asset class. Each dot is one vault; the top 5 by AUM are the largest bubbles.
Vault AUM distribution
Median vault AUM $1.64K · 95% of vaults sit below $10M. A long tail under a handful of mega-vaults.
Vault directory: 788 matches
Click a header to sort, a row to copy its identifier (chain:address). Vaults with APY > 100% are dropped as non-economic.
| Chain· | Vault· | Curator· | Asset· | AUM↑ | Net APY· | Fee Rate· | Fee Take· | Borrow Int.· | AUM 30d Δ· | Util· |
|---|---|---|---|---|---|---|---|---|---|---|
| Base | Steakhouse USDM | Steakhouse Financial | wUSDM | $447.63 | 0.00% | 5.0% | 5.0% | N/A | +0.1% | N/A |
| Ethereum | Steakhouse USDR | Steakhouse Financial | USDR | $469.26 | 0.00% | 5.0% | 5.0% | N/A | -31.0% | N/A |
| Katana | Pocky's High Yield vbUSDT - Personal Vault | unattributed | vbUSDT | $504.25 | 0.00% | 0.0% | 0.0% | $0 | -0.4% | N/A |
| Arbitrum | Trinity Gold USDC Vault | unattributed | USDC | $513.82 | N/A | 0.0% | 0.0% | N/A | +69.2% | N/A |
| Polygon | Gondor Growth v1.e | unattributed | USDC | $527.46 | 0.00% | 0.0% | 0.0% | N/A | +0.0% | N/A |
| Ethereum | "Parity Core USDC" | unattributed | USDC | $528.02 | 4.27% | 0.0% | 0.0% | $22.55 | -99.6% | N/A |
| Ethereum | USDT Yield | KPK | USDT | $583.97 | 0.20% | 0.0% | 0.0% | $1.17 | +0.1% | N/A |
| Ethereum | Julian Capital Yield USDC | unattributed | USDC | $589.86 | 4.27% | 0.0% | 0.0% | $25.2 | +0.4% | N/A |
| Base | Relend ETH | B.Protocol | WETH | $616.16 | 0.00% | 10.0% | 10.0% | N/A | +32.2% | N/A |
| Base | Steakhouse sUSDS | Steakhouse Financial | sUSDS | $646.14 | 0.00% | 0.0% | 0.0% | N/A | +0.3% | N/A |
| Ethereum | Pangolins USDT | Pangolins | USDT | $648.29 | 2.24% | 10.0% | 10.0% | $16.13 | +0.3% | N/A |
| Base | Max Yield USDC | unattributed | USDC | $650.99 | 4.16% | 0.0% | 0.0% | $27.07 | +0.4% | N/A |
| Ethereum | Hadjime USDC Prime | unattributed | USDC | $662 | 2.67% | 5.0% | 5.0% | $18.62 | -99.8% | N/A |
| Monad | Steakhouse High Yield USD1 | Steakhouse Financial | USD1 | $691.21 | 0.00% | 10.0% | 10.0% | N/A | +0.0% | N/A |
| Arbitrum | Only Trust | unattributed | USDC | $701.13 | 12.44% | 0.0% | 0.0% | $87.21 | +0.0% | N/A |
Vaults are MetaMorpho's curated allocators. Depositors put capital into a vault, and the curator allocates across Morpho markets. AUM = total assets supplied to the vault. Net APY is after-fee yield delivered to depositors. Fee Rate is the curator's performance fee on yield. Fee Take Rate = curator fees ÷ borrow interest captured = the share of borrower-paid yield the curator retains (per-vault this reduces to the performance fee). Borrow interest captured = AUM × pre-fee APY.
Vaults reporting APY ≥ 100% are excluded from weighted aggregates as data artifacts (a saturated-utilization underlying market with a runaway IRM). The utilization column shows ". " until vault_allocations_daily backfills.
Datum Labs. (2026). Morpho Research Terminal: Vault directory. Retrieved September 10, 2026 from /vaults.