Vaults
553 active vaults across 11 chains · $2.4B AUM · $6.32M curator fees annualized · $91.4M borrow interest captured
Vaults as asset managers · Source: Morpho GraphQL · vault_state_daily · as of 2026-06-10
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 $4.83K · 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· |
|---|---|---|---|---|---|---|---|---|---|---|
| Base | Moonwell Flagship USDC | Anthias Labs | USDC | $9.14M | 4.31% | 15.0% | 15.0% | $365.87K | -7.3% | N/A |
| Ethereum | Gauntlet USDT Frontier | Gauntlet | USDT | $9.13M | 3.47% | 5.0% | 5.0% | $333.7K | -65.2% | N/A |
| Ethereum | Gauntlet USDC Core | Gauntlet | USDC | $8.57M | 4.29% | 5.0% | 5.0% | $387.34K | -8.0% | N/A |
| HyperEVM | Felix USDT0 | Felix | USD₮0 | $8.34M | 5.33% | 10.0% | 10.0% | $495.58K | -9.5% | N/A |
| Base | Spark USDC Vault | SparkDAO | USDC | $7.73M | 3.60% | 10.0% | 10.0% | $309.8K | -15.4% | N/A |
| Ethereum | Vault Bridge USDT | Gauntlet | USDT | $7.62M | 3.13% | 5.0% | 5.0% | $251.33K | -76.9% | N/A |
| Ethereum | Clearstar USDC Reactor | Clearstar | USDC | $7.08M | 9.88% | 10.0% | 10.0% | $782.18K | -23.2% | N/A |
| Katana | Yearn OG USDC | Yearn | vbUSDC | $7.03M | 6.07% | 10.0% | 10.0% | $275.74K | -6.6% | N/A |
| Base | Moonwell Flagship ETH | Anthias Labs | WETH | $6.86M | 1.79% | 15.0% | 15.0% | $104.98K | -36.4% | N/A |
| Ethereum | Yearn USDT | Yearn | USDT | $5.56M | 3.52% | 5.0% | 5.0% | $206.19K | +555681261.1% | N/A |
| Katana | Yearn OG ETH | Yearn | vbETH | $5.43M | 2.92% | 10.0% | 10.0% | $36.44K | -61.5% | N/A |
| Base | Metronome msETH Vault | Gauntlet | msETH | $5.32M | 1.90% | 5.0% | 5.0% | $106.43K | -30.8% | N/A |
| Ethereum | Gauntlet USDT Prime | Gauntlet | USDT | $5.19M | 3.68% | 0.0% | 0.0% | $191.17K | -10.3% | N/A |
| Katana | Yearn OG USDT | Yearn | vbUSDT | $4.95M | 12.86% | 10.0% | 10.0% | $75.93K | +51.8% | N/A |
| Ethereum | Metronome msETH Vault | Gauntlet | msETH | $4.72M | 2.19% | 5.0% | 5.0% | $108.8K | -30.8% | 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 June 10, 2026 from /vaults.