NCTKF - U.S. Moats Ahead Despite IT Underweight
For the month Ending July 30, 2018
Performance Overview
Domestic moat companies, as represented by the Morningstar Wide Moat Focus IndexSM (MWMFTR, or "U.S. Moat Index"), once again posted strong results in July, outperforming the S&P 500 Index (4.11% vs. 3.72%, respectively) and pulled ahead on a year-to-date basis (7.15% vs. 6.47%). International moats outpaced the broad international market for the second straight month, and returned to roughly even on a year-to-date basis relative to the broad international market. The Morningstar Global ex-US Moat Focus IndexSM (MGEUMFUN, or "International Moat Index")