Vaults
576 active vaults across 11 chains · $2.02B AUM · $4.02M curator fees annualized · $61.49M borrow interest captured
Vaults as asset managers · Source: Morpho GraphQL · vault_state_daily · as of 2026-09-09
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: 787 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 | MEV Frontier USDC Vault | MEV Capital | USDC | $51.35K | 0.00% | 15.0% | 15.0% | N/A | +0.0% | N/A |
| Base | Julian Capital USDC Liquid | unattributed | USDC | $48.35K | 0.00% | 0.0% | 0.0% | N/A | +0.0% | N/A |
| Base | Re7 USDC | RE7 Labs | USDC | $48.09K | 0.00% | 5.0% | 5.0% | N/A | -12.9% | N/A |
| Base | Safe x Steakhouse ETH | Steakhouse Financial | WETH | $47.61K | 1.68% | 10.0% | 10.0% | $891.71 | +26.9% | N/A |
| Base | Morpho eUSD | RE7 Labs | eUSD | $46.55K | 0.00% | 10.0% | 10.0% | N/A | -5.1% | N/A |
| Base | Universal USDC | RE7 Labs | USDC | $46.28K | 0.00% | 10.0% | 10.0% | N/A | -3.3% | N/A |
| Ethereum | Keyrock USDC | Keyrock | USDC | $44.44K | 23.62% | 0.0% | 0.0% | $10.5K | +0.2% | N/A |
| Ethereum | Coinshift USDC | Steakhouse Financial | USDC | $43.62K | 0.00% | 10.0% | 10.0% | N/A | -4.4% | N/A |
| Ethereum | Pocky's High Yield WETH | unattributed | WETH | $43.52K | 0.04% | 0.0% | 0.0% | $18.42 | +0.0% | N/A |
| Base | Pocky's High Yield WETH V2 | unattributed | WETH | $39.13K | 1.85% | 0.0% | 0.0% | $724.51 | +0.0% | N/A |
| Ethereum | SovaBase USDC | unattributed | USDC | $39.02K | N/A | 5.0% | 5.0% | N/A | +89.6% | N/A |
| Ethereum | Coinshift USDL | Steakhouse Financial | wUSDL | $37.23K | 0.00% | 0.0% | 0.0% | N/A | N/A | N/A |
| Base | Lunar Labs Treasury USDC Vault | unattributed | USDC | $36.83K | 0.00% | 0.0% | 0.0% | N/A | +0.0% | N/A |
| Ethereum | USDU Core | AlphaPing | USDU | $34.94K | 0.00% | 0.0% | 0.0% | $0.66 | +0.0% | N/A |
| Katana | Gauntlet AUSD | Gauntlet | AUSD | $34.17K | 0.00% | 10.0% | 10.0% | $0.05 | -31.2% | 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 9, 2026 from /vaults.