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· |
|---|---|---|---|---|---|---|---|---|---|---|
| Base | Pangolins USDC | Pangolins | USDC | $11.88M | 3.83% | 10.0% | 10.0% | $506.98K | -43.6% | N/A |
| HyperEVM | Felix USDC (Frontier) | Felix | USDC | $12.14M | 5.63% | 10.0% | 10.0% | $760.86K | -67.4% | N/A |
| Ethereum | Vault Bridge USDC | Steakhouse Financial | USDC | $12.54M | 4.50% | 5.0% | 5.0% | $594.67K | -14.9% | N/A |
| Ethereum | Smokehouse USDC | Steakhouse Financial | USDC | $13.5M | 6.09% | 10.0% | 10.0% | $916.35K | -14.6% | N/A |
| Ethereum | Metronome msUSD Vault | Gauntlet | msUSD | $14.41M | 0.22% | 10.0% | 10.0% | $35.6K | -2.6% | N/A |
| Ethereum | Spark Blue Chip USDC Vault | SparkDAO | USDC | $15.47M | 4.23% | 1.0% | 1.0% | $661.12K | +32.9% | N/A |
| HyperEVM | Felix HYPE | Felix | WHYPE | $16.07M | 1.32% | 10.0% | 10.0% | $236.32K | -14.4% | N/A |
| Ethereum | Vault Bridge WETH | Gauntlet | WETH | $18.05M | 1.42% | 5.0% | 5.0% | $270.29K | +52.3% | N/A |
| Ethereum | Hakutora USDC | Hakutora | USDC | $19.69M | 3.62% | 15.0% | 15.0% | $841.82K | +18.3% | N/A |
| Base | Steakhouse Prime USDC | Steakhouse Financial | USDC | $20.61M | 4.05% | 5.0% | 5.0% | $880.27K | -14.8% | N/A |
| Ethereum | Smokehouse USDT | Steakhouse Financial | USDT | $23.23M | 4.35% | 10.0% | 10.0% | $1.13M | -0.0% | N/A |
| Base | Froge's USDC | unattributed | USDC | $26.83M | 4.27% | 0.0% | 0.0% | $1.14M | -7.9% | N/A |
| Ethereum | Vault Bridge WBTC | Gauntlet | WBTC | $27.24M | 0.00% | 5.0% | 5.0% | N/A | +10.1% | N/A |
| Ethereum | Gauntlet USDC Prime | Gauntlet | USDC | $27.81M | 4.54% | 0.0% | 0.0% | $1.26M | +0.8% | N/A |
| Ethereum | Steakhouse ETH | Steakhouse Financial | WETH | $28.86M | 1.58% | 5.0% | 5.0% | $480.84K | +24.8% | 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.