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· |
|---|---|---|---|---|---|---|---|---|---|---|
| HyperEVM | OUSD Vault V1 | Yearn | USDC | $1.04M | 5.50% | 5.0% | 5.0% | $60.42K | +0.6% | N/A |
| Ethereum | Resolv USDC | Gauntlet | USDC | $1.03M | 0.00% | 10.0% | 10.0% | N/A | +0.0% | N/A |
| OP Mainnet | Gauntlet USDC Prime | Gauntlet | USDC | $962.17K | 3.42% | 10.0% | 10.0% | $36.66K | -12.9% | N/A |
| Polygon | Compound USDC | Gauntlet | USDC | $931.85K | 2.69% | 10.0% | 10.0% | $27.93K | +0.1% | N/A |
| Arbitrum | frobUSDC | unattributed | USDC | $926.53K | N/A | 0.0% | 0.0% | N/A | +66.4% | N/A |
| Base | Clearstar USDC Reactor | Clearstar | USDC | $913.77K | 3.28% | 25.0% | 25.0% | $40.2K | -28.4% | N/A |
| Arbitrum | Gauntlet USDC Core | Gauntlet | USDC | $908.82K | 3.66% | 10.0% | 10.0% | $36.99K | +9.3% | N/A |
| Ethereum | Waterline infiniFi USDC | Waterline | USDC | $883.68K | 5.33% | 5.0% | 5.0% | $49.67K | -27.0% | N/A |
| HyperEVM | MEV Capital HYPE | MEV Capital | WHYPE | $880.23K | 4.11% | 10.0% | 10.0% | $40.3K | -12.4% | N/A |
| Ethereum | IMF USDS | unattributed | USDS | $819.46K | 0.37% | 10.0% | 10.0% | $3.38K | +0.0% | N/A |
| Base | Yield Clearstar USDC | Clearstar | USDC | $792.4K | 3.94% | 25.0% | 25.0% | $41.88K | +17.9% | N/A |
| Ethereum | MEV Capital Elixir USDC | MEV Capital | USDC | $789.2K | N/A | 10.0% | 10.0% | N/A | +91.1% | N/A |
| Base | Jarvis jEUR | unattributed | jEUR | $774.66K | 8.05% | 10.0% | 10.0% | $15.54K | +8.5% | N/A |
| Base | Seamless WETH Vault | unattributed | WETH | $772.91K | 0.00% | 15.0% | 15.0% | N/A | +11.1% | N/A |
| Base | Seamless USDC Vault | unattributed | USDC | $737.61K | 0.00% | 15.0% | 15.0% | N/A | -1.5% | 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.