Vaults
553 active vaults across 11 chains · $2.36B AUM · $6.11M curator fees annualized · $87.67M borrow interest captured
Vaults as asset managers · Source: Morpho GraphQL · vault_state_daily · as of 2026-06-12
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 $4.7K · 95% of vaults sit below $10M. A long tail under a handful of mega-vaults.
Vault directory: 768 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· |
|---|---|---|---|---|---|---|---|---|---|---|
| Katana | Pocky's High Yield vbUSDT | unattributed | vbUSDT | $497.49 | 15.91% | 0.0% | 0.0% | $19.42 | +1.2% | N/A |
| Base | Steakhouse USDM | Steakhouse Financial | wUSDM | $449.31 | 0.00% | 5.0% | 5.0% | N/A | N/A | N/A |
| Base | Relend ETH | B.Protocol | WETH | $415.72 | 0.00% | 10.0% | 10.0% | N/A | -27.1% | N/A |
| Ethereum | MaxEarn USDC | unattributed | USDC | $394.76 | 0.01% | 10.0% | 10.0% | $0.06 | -0.0% | N/A |
| Ethereum | Pendlend USDT | unattributed | USDT | $378.62 | N/A | 10.0% | 10.0% | N/A | -61.3% | N/A |
| Base | Steakhouse EURA | Steakhouse Financial | EURA | $364.35 | 0.00% | 0.0% | 0.0% | N/A | -0.9% | N/A |
| Ethereum | Steakhouse Prime EURC | Steakhouse Financial | EURC | $359.65 | 0.00% | 5.0% | 5.0% | N/A | -1.5% | N/A |
| Ethereum | M11C USDC | unattributed | USDC | $350.22 | N/A | 5.0% | 5.0% | N/A | +75.1% | N/A |
| HyperEVM | Hyperstable WHLP/USH | unattributed | USH | $333.68 | 0.64% | 50.0% | 50.0% | $4.31 | -49.2% | N/A |
| Base | 0xequity RWA USDC | unattributed | USDC | $331.17 | 0.25% | 0.0% | 0.0% | $0.83 | +0.1% | N/A |
| Ethereum | Relend cbBTC | unattributed | cbBTC | $324.09 | 0.00% | 10.0% | 10.0% | $0.01 | -21.4% | N/A |
| Unichain | MEV Capital USDC | unattributed | USDC | $323.95 | 34.00% | 10.0% | 10.0% | $124.51 | -21.0% | N/A |
| Ethereum | alpha8USDC | unattributed | USDC | $322.16 | N/A | 10.0% | 10.0% | N/A | +63.5% | N/A |
| Base | Gneiss Pioneer USDC | unattributed | USDC | $309.86 | 0.01% | 0.0% | 0.0% | $0.03 | N/A | N/A |
| Polygon | Brazilian Power House | unattributed | BRLA | $303.44 | 0.23% | 0.0% | 0.0% | $0.69 | N/A | 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 June 12, 2026 from /vaults.