Vaults
577 active vaults across 11 chains · $2.01B AUM · $4.09M curator fees annualized · $61.61M 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· |
|---|---|---|---|---|---|---|---|---|---|---|
| Ethereum | Coinshift USDC | Steakhouse Financial | USDC | $43.61K | 0.00% | 10.0% | 10.0% | N/A | -4.5% | N/A |
| Ethereum | Keyrock USDC | Keyrock | USDC | $44.48K | 31.24% | 0.0% | 0.0% | $13.9K | +0.1% | N/A |
| Base | Universal USDC | RE7 Labs | USDC | $46.27K | 0.00% | 10.0% | 10.0% | N/A | -3.3% | N/A |
| Base | Morpho eUSD | RE7 Labs | eUSD | $46.62K | 0.00% | 10.0% | 10.0% | N/A | -5.1% | N/A |
| Base | Safe x Steakhouse ETH | Steakhouse Financial | WETH | $47.33K | 1.35% | 10.0% | 10.0% | $712.94 | +26.7% | N/A |
| Base | Re7 USDC | RE7 Labs | USDC | $48.08K | 0.00% | 5.0% | 5.0% | N/A | -12.9% | N/A |
| Base | Julian Capital USDC Liquid | unattributed | USDC | $48.34K | 0.00% | 0.0% | 0.0% | N/A | +0.0% | N/A |
| Base | MEV Frontier USDC Vault | MEV Capital | USDC | $51.34K | 0.00% | 15.0% | 15.0% | N/A | +0.0% | N/A |
| Ethereum | MEV Capital Resolv USR | MEV Capital | USR | $52.86K | 0.00% | 10.0% | 10.0% | $0.01 | -11.1% | N/A |
| Ethereum | dForce USDT | unattributed | USDT | $53.83K | 2.42% | 5.0% | 5.0% | $1.37K | -13.7% | N/A |
| Ethereum | 9Summits USDC | 9Summits | USDC | $54.25K | 3.59% | 7.0% | 7.0% | $2.1K | -0.1% | N/A |
| Base | Zircuit Finance USDC on Base | unattributed | USDC | $55.31K | 4.26% | 0.0% | 0.0% | $2.36K | +500.9% | N/A |
| Ethereum | Apostro Ethena USDe | Apostro | USDe | $57.81K | 0.08% | 10.0% | 10.0% | $48.57 | -31.5% | N/A |
| Ethereum | Steakhouse PYUSD | Steakhouse Financial | PYUSD | $58.5K | 0.00% | 5.0% | 5.0% | N/A | +0.0% | N/A |
| HyperEVM | Julian Capital USDC Hype | unattributed | USDC | $58.66K | 6.14% | 0.0% | 0.0% | $3.6K | +0.6% | 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.