Vaults
553 active vaults across 11 chains · $2.39B AUM · $6.34M curator fees annualized · $91.89M borrow interest captured
Vaults as asset managers · Source: Morpho GraphQL · vault_state_daily · as of 2026-06-11
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 $5.05K · 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 | Gauntlet USDT | Gauntlet | vbUSDT | $2.07M | 13.61% | 10.0% | 10.0% | $32.88K | -96.6% | N/A |
| HyperEVM | Gauntlet USDC | Gauntlet | USDC | $2.07M | 5.32% | 10.0% | 10.0% | $122.78K | +28.0% | N/A |
| Ethereum | Gauntlet USDC Frontier | Gauntlet | USDC | $2.05M | 0.32% | 5.0% | 5.0% | $6.84K | -39.5% | N/A |
| Ethereum | Ellen Capital - USDC Safe | unattributed | USDC | $2.05M | 3.96% | 10.0% | 10.0% | $90.24K | -26.2% | N/A |
| Ethereum | ALPHA USDC Core | AlphaPing | USDC | $2.05M | 5.71% | 10.0% | 10.0% | $130.26K | -74.3% | N/A |
| Arbitrum | Not Gauntlet | unattributed | USDC | $2.01M | N/A | 0.0% | 0.0% | N/A | +54.8% | N/A |
| Base | Gauntlet USDC Core | Gauntlet | USDC | $1.92M | 3.62% | 10.0% | 10.0% | $77.15K | -5.7% | N/A |
| Base | OUSD Vault V1 | Yearn | USDC | $1.87M | 4.58% | 5.0% | 5.0% | $90.33K | +212.0% | N/A |
| Ethereum | Gauntlet DAI Core | Gauntlet | DAI | $1.79M | 4.53% | 10.0% | 10.0% | $90.14K | +32.9% | N/A |
| HyperEVM | OUSD Vault V1 | unattributed | USDC | $1.77M | 5.19% | 5.0% | 5.0% | $97.04K | +94.1% | N/A |
| Ethereum | OUSD Vault V1 | Yearn | USDC | $1.71M | 3.83% | 5.0% | 5.0% | $69.05K | -42.9% | N/A |
| Ethereum | Gauntlet EURC Core | Gauntlet | EURC | $1.71M | 1.57% | 10.0% | 10.0% | $29.79K | -34.2% | N/A |
| Ethereum | Cronos USDC | Steakhouse Financial | USDC | $1.53M | 3.69% | 0.0% | 0.0% | $56.34K | -1.0% | N/A |
| Ethereum | Safe x Steakhouse USDT | Steakhouse Financial | USDT | $1.4M | 4.08% | 10.0% | 10.0% | $63.5K | +294.5% | N/A |
| Base | Moonwell Flagship EURC | Anthias Labs | EURC | $1.38M | 1.74% | 15.0% | 15.0% | $12.44K | -17.8% | 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 11, 2026 from /vaults.