Vaults
576 active vaults across 11 chains · $2.04B AUM · $4.29M curator fees annualized · $64.77M borrow interest captured
Vaults as asset managers · Source: Morpho GraphQL · vault_state_daily · as of 2026-09-08
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· |
|---|---|---|---|---|---|---|---|---|---|---|
| Ethereum | Yearn WBTC | Yearn | WBTC | $3.73M | 0.03% | 0.0% | 0.0% | $1.13K | +20.3% | N/A |
| Ethereum | Metronome msETH Vault | Gauntlet | msETH | $3.2M | 3.58% | 5.0% | 5.0% | $120.66K | -20.3% | N/A |
| Ethereum | Clearstar Yield USDC | Clearstar | USDC | $3.1M | 0.00% | 0.0% | 0.0% | N/A | +0.0% | N/A |
| Ethereum | Safe x Steakhouse USDT | Steakhouse Financial | USDT | $3.09M | 3.20% | 10.0% | 10.0% | $109.96K | +66.6% | N/A |
| Ethereum | Vault Bridge USDT | Gauntlet | USDT | $3.07M | 3.27% | 5.0% | 5.0% | $105.92K | -45.9% | N/A |
| Ethereum | OUSD Vault V1 | Yearn | USDC | $2.97M | 7.50% | 5.0% | 5.0% | $235.26K | +19.4% | N/A |
| Base | Steakhouse High Yield USDC v1.1 | Steakhouse Financial | USDC | $2.56M | 4.80% | 0.0% | 0.0% | $122.59K | -1.1% | N/A |
| Ethereum | Gauntlet LRT Core | Gauntlet | WETH | $2.46M | 1.51% | 10.0% | 10.0% | $41.38K | -12.5% | N/A |
| Ethereum | Gauntlet WBTC Core | Gauntlet | WBTC | $2.45M | 0.06% | 10.0% | 10.0% | $1.56K | -14.9% | N/A |
| Arbitrum | Steakhouse High Yield USDC | Steakhouse Financial | USDC | $2.37M | 4.42% | 10.0% | 10.0% | $116.56K | +15.6% | N/A |
| Ethereum | Yearn USDT | Yearn | USDT | $2.28M | 3.36% | 5.0% | 5.0% | $80.57K | -18.2% | N/A |
| Ethereum | Gauntlet DAI Core | Gauntlet | DAI | $2.2M | 4.86% | 10.0% | 10.0% | $118.93K | -5.7% | N/A |
| HyperEVM | Gauntlet USDC | Gauntlet | USDC | $2.19M | 5.24% | 10.0% | 10.0% | $128K | -41.5% | N/A |
| Ethereum | Steakhouse Ethena USDtb | Steakhouse Financial | USDtb | $2.17M | 1.50% | 5.0% | 5.0% | $34.25K | -85.0% | N/A |
| Ethereum | Usual Boosted USDC | MEV Capital | USDC | $2.12M | 5.93% | 10.0% | 10.0% | $140.07K | -40.1% | 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 8, 2026 from /vaults.