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 | Gauntlet sUSDS Core | Gauntlet | sUSDS | $714.9 | 0.14% | 0.0% | 0.0% | $1 | +3.3% | N/A |
| HyperEVM | Hyperstable HWHLP/USH | unattributed | USH | $761.63 | 0.07% | 50.0% | 50.0% | $1 | +4.4% | N/A |
| Ethereum | LeadBlock USDC RWA | unattributed | USDC | $766.46 | 0.84% | 50.0% | 50.0% | $12.91 | +0.2% | N/A |
| Base | base-test | unattributed | USDC | $794.78 | N/A | 0.0% | 0.0% | N/A | +91.5% | N/A |
| HyperEVM | MYRMIDONS USDT0 | unattributed | USD₮0 | $814.08 | 1.49% | 0.0% | 0.0% | $12.11 | +0.1% | N/A |
| Arbitrum | Yearn OG WETH | Yearn | WETH | $852.12 | 0.09% | 5.0% | 5.0% | $0.76 | +32.5% | N/A |
| Katana | Clearstar USDC Reactor | Clearstar | vbUSDC | $867.73 | 4.73% | 20.0% | 20.0% | $51.57 | -14.1% | N/A |
| Base | TFT USDC | unattributed | USDC | $903.56 | 3.50% | 0.0% | 0.0% | $31.61 | N/A | N/A |
| Ethereum | Re7 FRAX | RE7 Labs | FRAX | $937.06 | 0.00% | 2.0% | 2.0% | N/A | +0.2% | N/A |
| HyperEVM | Hyperstable SUSDE/USH | unattributed | USH | $988.46 | 0.00% | 50.0% | 50.0% | N/A | -13.7% | N/A |
| Arbitrum | Parity High Yield USDC | unattributed | USDC | $1.01K | 4.90% | 0.0% | 0.0% | $49.61 | +0.4% | N/A |
| Ethereum | BOLD Reactor | Clearstar | BOLD | $1.01K | 0.24% | 4.0% | 4.0% | $2.58 | -4.2% | N/A |
| Ethereum | MEV Capital cbBTC | MEV Capital | cbBTC | $1.03K | 3.24% | 10.0% | 10.0% | $37 | +23.0% | N/A |
| Katana | Re7 uSOL | RE7 Labs | uSOL | $1.1K | 0.00% | 10.0% | 10.0% | N/A | +9.5% | N/A |
| Ethereum | Gauntlet MKR Blended | Gauntlet | USDC | $1.12K | 4.27% | 0.0% | 0.0% | $48.08 | +0.4% | 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.