Vaults
577 active vaults across 11 chains · $2B AUM · $4.09M curator fees annualized · $61.79M borrow interest captured
Vaults as asset managers · Source: Morpho GraphQL · vault_state_daily · as of 2026-09-11
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· |
|---|---|---|---|---|---|---|---|---|---|---|
| Arbitrum | Not Gauntlet | unattributed | USDC | $5.88M | N/A | 0.0% | 0.0% | N/A | +35.7% | N/A |
| Base | Metronome msETH Vault | Gauntlet | msETH | $6.03M | 0.01% | 5.0% | 5.0% | $507.19 | +29.4% | N/A |
| Ethereum | Hakutora USDT | Hakutora | USDT | $6.28M | 2.12% | 15.0% | 15.0% | $157K | -10.4% | N/A |
| Ethereum | Gauntlet USDT Prime | Gauntlet | USDT | $6.41M | 2.50% | 0.0% | 0.0% | $159.89K | +68.2% | N/A |
| Ethereum | WETH ARM Vault | Yearn | WETH | $6.59M | 1.56% | 5.0% | 5.0% | $108.37K | +72.7% | N/A |
| Ethereum | Yearn USDC | Yearn | USDC | $7.3M | 4.42% | 0.0% | 0.0% | $322.82K | -13.5% | N/A |
| Ethereum | Gauntlet USDT Frontier | Gauntlet | USDT | $7.72M | 2.39% | 5.0% | 5.0% | $194.62K | -32.3% | N/A |
| Ethereum | Gauntlet WETH Prime | Gauntlet | WETH | $7.84M | 1.58% | 5.0% | 5.0% | $130.39K | -3.4% | N/A |
| HyperEVM | Felix USDC | Felix | USDC | $8.11M | 5.95% | 10.0% | 10.0% | $538.37K | -39.7% | N/A |
| Ethereum | Yearn OG USDC | Yearn | USDC | $9.57M | 7.00% | 5.0% | 5.0% | $633.56K | -3.2% | N/A |
| Worldchain | Re7 WLD | unattributed | WLD | $9.66M | 1.85% | 10.0% | 10.0% | $85.78 | +25.4% | N/A |
| Ethereum | SwissBorg Morpho USDC | Gauntlet | USDC | $10M | 4.04% | 5.0% | 5.0% | $425.97K | -7.5% | N/A |
| Worldchain | Re7 USDC | unattributed | USDC | $10.22M | 6.47% | 10.0% | 10.0% | $171.14K | +21.8% | N/A |
| Katana | Steakhouse Prime USDC | Steakhouse Financial | vbUSDC | $11.21M | 2.47% | 10.0% | 10.0% | $308.23K | -15.0% | N/A |
| Ethereum | Gauntlet USDC RWA | Gauntlet | USDC | $11.31M | 6.10% | 0.0% | 0.0% | $690.29K | -0.9% | 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 11, 2026 from /vaults.