Yield Vaults
Yield vaults evaluated across mandate accountability, exit mechanics under stress, strategy-risk honesty, and fee transparency.
7providers tracked
6ranked (methodology v2026.11.1)
12 November 2026Ranking snapshot
3 November 2026oldest read · due 18 DecIndependent. Evidence-based.We rank with a published method and sourced evidence. No one can pay to rank.How it works
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Pick a country to see which crypto yield vaults serve it. Nothing is hidden — any that does not is listed with that reason.- 🇺🇸 United States
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BalanceNot priced hereThe cut is a share of the yield, not of your balance; each row shows it.
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6 providers match your requirements
Out of 6 ranked providers. 0 excluded.
What this ranks
Ranked here: yield vaults where someone else allocates your deposit, compared on who is accountable for the mandate, exit under stress, honesty about strategy risk and fee transparency.Not ranked here: products that do not hand the allocation of your deposit to someone else.6 of the 7 assessed are ranked; 1 were turned away by name. Who, and whyRequirements narrow the list; they never change a published ChainChoice Score. How the ranking works
Yearn (v3)
How Yearn (v3) was chosen
Wins the weighted total without leading any single criterionThe original yield vault protocol
82 / 100 out of 100published score, #1 of all 6 worldwide
Evidence
High
4/4 criteria scored, with 4 dated sources quoted.Fee transparencyMandate accountability
Why it leads
- Yearn (v3) is 1 point ahead of Morpho Vaults, mainly because it scores higher on its fee transparency.
- Ahead of Morpho Vaults on fee transparency (+1.2 points)
- Provider states broad availability
Performance fee
10%
Share
#ProviderPerformance feeCompare
2
Curated lending vaults
81 / 100 out of 100
3
Multi-chain auto-compounder
77 / 100 out of 100
4
Automated leverage-looping
76 / 100 out of 100
20%
5
Tokenized-fund vaults
64 / 100 out of 100
6
UP
Institutional vaults run by appointed curators...
58 / 100 out of 100
Not confirmed (1) — not ranked until its source is read again; listed, not ruled out.
- ether.fi Liquid · Re-read pending, its terms bar automated reads: ether.fi's terms bar robots, crawlers and scrapers on its website..
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Fee transparency
Fee transparency
20% of the published criteria weight. Scored 0–10 from the published evidence; the order below is by this criterion, then the published ranking.
| Provider | Fee transparency (0–10) | ChainChoice Score |
|---|---|---|
| Yearn (v3) | 8 | 82 |
| Beefy | 8 | 77 |
| Fluid Lite | 8 | 76 |
| Morpho Vaults | 7 | 81 |
| Lagoon | 6 | 64 |
| Upshift | 5 | 58 |
Exit
Exit mechanics under stress
26% of the published criteria weight. Scored 0–10 from the published evidence; the order below is by this criterion, then the published ranking.
| Provider | Exit (0–10) | ChainChoice Score |
|---|---|---|
| Yearn (v3) | 6 | 82 |
| Morpho Vaults | 6 | 81 |
| Beefy | 6 | 77 |
| Fluid Lite | 5 | 76 |
| Lagoon | 3 | 64 |
| Upshift | 2 | 58 |
Mandate
Mandate accountability
30% of the published criteria weight. Scored 0–10 from the published evidence; the order below is by this criterion, then the published ranking.
| Provider | Mandate (0–10) | ChainChoice Score |
|---|---|---|
| Yearn (v3) | 7 | 82 |
| Morpho Vaults | 7 | 81 |
| Fluid Lite | 7 | 76 |
| Beefy | 6 | 77 |
| Lagoon | 4 | 64 |
| Upshift | 3 | 58 |
Strategy risk
Strategy risk honesty
24% of the published criteria weight. Scored 0–10 from the published evidence; the order below is by this criterion, then the published ranking.
| Provider | Strategy risk (0–10) | ChainChoice Score |
|---|---|---|
| Yearn (v3) | 7 | 82 |
| Morpho Vaults | 7 | 81 |
| Beefy | 5 | 77 |
| Fluid Lite | 4 | 76 |
| Lagoon | 4 | 64 |
| Upshift | 3 | 58 |
All 4 published criteria
Every ranked row’s score on each criterion, in the published order. Choose a column to order by it.
| Provider | ChainChoice Score | |||||
|---|---|---|---|---|---|---|
| 1 | Yearn (v3) | 7 | 6 | 7 | 8 | 82 |
| 2 | Morpho Vaults | 7 | 6 | 7 | 7 | 81 |
| 3 | Beefy | 6 | 6 | 5 | 8 | 77 |
| 4 | Fluid Lite | 7 | 5 | 4 | 8 | 76 |
| 5 | Lagoon | 4 | 3 | 4 | 6 | 64 |
| 6 | Upshift | 3 | 2 | 3 | 5 | 58 |
How this ranking works
How firm the #1 is, the per-criterion arithmetic behind each score, who pays ChainChoice, and which yield vaults were assessed and left out.
One point from changingYearn (v3) leads Morpho Vaults by 1 point
A one-point change on one criterion puts Morpho Vaults first, so read both.
See the arithmetic
Move mandate accountability — the heaviest criterion that changes it, weighted 30 — by a single point and Morpho Vaults takes first place. Both are worth reading. The published rankings file
Why this score4 published criteria · leads every one
Published criterionWtScore, and the best hereGap/10 out of 10Pts
Mandate accountability7.2·76.7
Exit mechanics under stress6.2·65.0
Strategy risk honesty5.8·75.4
Fee transparency4.8·85.1
Σ methodology points22.2/32
Each bar is the score on that criterion’s own 0–10 scale, never rescaled to the pool. The dark line is the best any product here reached on that axis. Wt is the most the criterion can add to the 86-point weighted total. Pts is weight × score × 32; the sum is the methodology score, and each weighted point behind the leader costs 2.6 on the displayed score. how these are weighted
Why it ranks first
Why Yearn (v3) leads this category right now
The original yield vault protocol — now ~4% of its 2021 peak. Strongest on fee transparency (8/10): Each Yearn vault shows its own fees live, and the displayed APY is net of them. Factory-deployed vaults charge a 10% performance fee, and single-asset vaults generally charge no management fee. Weakest on exit mechanics under stress (6/10): Criterion: 'Redemption path, queue length, and whether instant exit depends on a buffer that thins in a crisis.' The strategy-risks page (200) still names stress illiquidity in the underlying lending; there is no in-kind exit path like Morpho's. ERC-4626 redeem is instant only while the strategies hold liquidity. Published price: Yearn's yVaults overview (docs.yearn.fi, read 2026-11-03): vaults "had 20% performance fees and 2% management fees, but this has changed and yVaults now have a dynamic fee structure." It adds: "For vaults deployed by the vault factory the performance fee is…
Best for
Fee transparency — 8/10
Main tradeoff
TVL is ~4% of its 2021 peak — less scrutiny per long-tail vault than the brand implies
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Yearn's yVaults overview (docs.yearn.fi, read 3 November 2026): vaults "had 20% performance fees and 2% management fees, but this has changed and yVaults now have a dynamic fee structure." It adds: "For vaults deployed by the vault factory the performance fee is 10% instead of 20%." and "Single asset vaults generally have no management fee." Yield on yearn.fi "is displayed as net APY", so fees are already netted out. Fees are per vault; check the specific vault's live fee display. Worked tally (Yearn's ydaemon API, read 3 November 2026): of 24 v3 Ethereum vaults with at least a hundred thousand dollars deposited, 14 charge a 10% performance fee, 10 charge none, and none charges a management fee.
Recommendation summary
What should decide this category
Do you know who decides where your deposit goes — the protocol, a named curator, or a delegated desk?
Would you still accept this yield if you knew the strategy was looping or market making rather than lending?
If everyone withdrew at once, does your exit depend on a buffer that thins exactly then?
Quick picks
Strong options in this category
Start with the lead choice first, then use the shortlist only if you still need a challenger or stronger fit for a specific setup.
Best overall
Yearn (v3)
The original yield vault protocol — now ~4% of its 2021 peak
The original yield vault protocol — now ~4% of its 2021 peak. Strongest on fee transparency (8/10): Each Yearn vault shows its own fees live, and the displayed APY is net of them. Factory-deployed vaults charge a 10% performance fee, and single-asset vaults generally charge no management fee. Weakest on exit mechanics under stress (6/10): Criterion: 'Redemption path, queue length, and whether instant exit depends on a buffer that thins in a crisis.' The strategy-risks page (200) still names stress illiquidity in the underlying lending; there is no in-kind exit path like Morpho's. ERC-4626 redeem is instant only while the strategies hold liquidity. Published price: Yearn's yVaults overview (docs.yearn.fi, read 2026-11-03): vaults "had 20% performance fees and 2% management fees, but this has changed and yVaults now have a dynamic fee structure." It adds: "For vaults deployed by the vault factory the performance fee is…
Best for: Fee transparency — 8/10
Mandate accountability · weight 30%7/10Exit mechanics under stress · weight 26%6/10Strategy risk honesty · weight 24%7/10Fee transparency · weight 20%8/10
Quick pick
Morpho Vaults
Curated lending vaults — you underwrite the curator, not Morpho
Curated lending vaults — you underwrite the curator, not Morpho. Strongest on mandate accountability (7/10): A named curator sets each Morpho vault's strategy, and its risk-raising changes wait out a timelock. The vault owner can replace that curator, and Morpho's roles documentation lists the swap without a timelock. Weakest on exit mechanics under stress (6/10): Withdrawals are instant while the underlying lending markets hold idle liquidity; Morpho warns that a lack of liquidity can block withdrawals for a time. Vault V2 adds a forced exit path with a penalty of up to 2%. Published price: Morpho takes no protocol fee on vaults today (eth_call feeRecipient() on Morpho Blue returns the zero address at block 26,334,440, read 2026-11-03).
Best for: Mandate — 7/10
Mandate accountability · weight 30%7/10Exit mechanics under stress · weight 26%6/10Strategy risk honesty · weight 24%7/10Fee transparency · weight 20%7/10
Quick pick
Beefy
Multi-chain auto-compounder — you inherit the weakest underlying farm
Multi-chain auto-compounder — you inherit the weakest underlying farm. Strongest on fee transparency (8/10): Beefy nets its performance fee into each vault's displayed APY and shows the fee breakdown in the deposit and withdraw module. New vaults carry a maximum of 9.5% of harvested yield; older vaults charge less. Weakest on strategy risk honesty (5/10): Beefy vaults auto-compound third-party farm rewards, so a depositor carries the risk of the underlying farm and its tokens. Beefy's documentation names that risk and flags vaults that fail its safety checks. Published price: Performance fee on harvested yield only, already netted out of the displayed APY.
Best for: Fee transparency — 8/10
Mandate accountability · weight 30%6/10Exit mechanics under stress · weight 26%6/10Strategy risk honesty · weight 24%5/10Fee transparency · weight 20%8/10
Quick pick
Fluid Lite
Automated leverage-looping — not passive staking, whatever the APY says
Automated leverage-looping — not passive staking, whatever the APY says. Strongest on fee transparency (8/10): Fluid Lite's ETH vault charges a 20% performance fee on net profit, already netted into the displayed APY; the USD vault charges none. Both charge a 0.05% exit fee. Weakest on strategy risk honesty (4/10): Fluid Lite runs a recursive (looped) lending strategy, yet its guides present the result as passive yield and as safer than traditional lending. The looping is disclosed; the passive framing understates it. Published price: Fluid Lite guides (lite.guides.instadapp.io, read 2026-11-03): ETH vault "A **20% performance fee** is charged on net profits.
Best for: Fee transparency — 8/10
Mandate accountability · weight 30%7/10Exit mechanics under stress · weight 26%5/10Strategy risk honesty · weight 24%4/10Fee transparency · weight 20%8/10
Considered and not ranked
1 product we looked at and left out
A shortlist is only honest if it says who it turned away. It was assessed against the same published criteria as the ranked table and excluded for a stated reason — not overlooked.
We assessed 7 products here and rank 6 — 86% of what we looked at. That share is of the products we assessed, not of the category: how many exist is not something we can count, so we do not claim a number for it.
ether.fi Liquid· Terms bar bot reads
What this ranking does not assess
- Regulatory failure: no licence where you are, or a forced market exit.
- Execution failure: you get a worse price, later, or nothing.
These can still cost you money here; the ranking does not measure them, so a high place says nothing about them. Which criterion scores each family, and why the others do not apply, is in /data/risk-coverage.json.
How this ranking is built
Reviewed on mandate accountability, exit mechanics under stress, strategy risk honesty, and fee transparency.
Data checked Nov 2026 · Independent rankings · We show our work
How this page is reviewed
Reviewed means every product ranked on this page was read against its sources on or after that date; every ranked category is re-read at least every 45 days. Models research, extract and parse. A deterministic engine ranks. Every quote passes an adversarial refute pass.
Accountable for this review: Mathias Siemonsmeier, Founder.
How we review · Review calendar · Corrections log · How we make money
Direct answer
What is the best crypto yield vault in 2026?
Yearn (v3) ranks #1 overall for yield vaults on ChainChoice. The original yield vault protocol — now ~4% of its 2021 peak. It holds that rank under an affiliate-blind methodology scored across 4 published, weighted criteria — the code that ranks providers physically cannot read affiliate payouts (CI-enforced), so a payout can't move a rank. The verdict re-computes on every fee change, incident, or regulatory action; the full reasoning and the audit receipt are under Methodology.
How you can lose money here, and what the ranking scores
- Contract failure: the code holding the funds is exploited.Scored by Strategy risk honesty · 24% (Yearn (v3) 7/10, Morpho Vaults 7/10, Beefy 5/10)
- Control failure: a key or vote changes the rules, freezes or mints.Scored by Mandate accountability · 30% (Yearn (v3) 7/10, Morpho Vaults 7/10, Beefy 6/10)
- Exit failure: you cannot get out at par, on time, or with what is yours.Scored by Exit mechanics under stress · 26% (Yearn (v3) 6/10, Morpho Vaults 6/10, Beefy 6/10)
Not assessed by this ranking: Regulatory failure, Execution failure. A high place says nothing about these; the Methodology tab says what each means.
Also scored, as cost, quality or a summary of several families: Fee transparency (20%).
FAQs
4 questions readers ask before choosing yield vaults.
Frequently asked
Questions people ask before choosing yield vaults
What is the difference between staking and yield vault in crypto?
Staking pays you for helping secure a blockchain, and the return comes from the protocol itself. A yield vault hands your deposit to a strategy — lending, market-making, basis trades, or a mix — and pays you what that strategy earns after fees. The distinction that matters is accountability: staking rewards are set by public protocol rules, while a vault's return depends on a manager's decisions, so this page scores whether the mandate is accountable, whether the strategy's risks are stated honestly, and what happens to your exit when the strategy is under stress.
What does a vault curator actually do?
A curator chooses which markets your deposit is allocated to and can usually change that allocation without asking you. Whether the curator is named, and whether they can be replaced, is the single biggest determinant of what you are actually holding — which is why mandate accountability is weighted first.
What matters most when choosing a yield vault?
Who allocates and whether you can leave. Mandate accountability and exit mechanics under stress carry over half the weight, because a headline APY tells you nothing about either.
Why isn't the vault with the highest APY ranked #1?
Because a higher APY is usually compensation for risk that has been moved rather than removed. The rate is shown as a fact and never scored; what is scored is who allocates, how you exit when everyone else wants to, whether the strategy is described honestly, and whether the real fee load is knowable before you deposit.
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Best picks
Best yield vaults in 2026
The best vault depends on who you are willing to let allocate your deposit, and on how confidently you could withdraw it in a bad week. Mandate accountability and exit under stress carry over half the weight here, because a headline APY tells you nothing about either — and looping, market making and pass-through farm risk are all routinely presented as passive yield.
Best overall
Yearn (v3)
The original yield vault protocol — now ~4% of its 2021 peak
Data checked Nov 2026
The original yield vault protocol — now ~4% of its 2021 peak. Strongest on fee transparency (8/10): Each Yearn vault shows its own fees live, and the displayed APY is net of them. Factory-deployed vaults charge a 10% performance fee, and single-asset vaults generally charge no management fee. Weakest on exit mechanics under stress (6/10): Criterion: 'Redemption path, queue length, and whether instant exit depends on a buffer that thins in a crisis.' The strategy-risks page (200) still names stress illiquidity in the underlying lending; there is no in-kind exit path like Morpho's. ERC-4626 redeem is instant only while the strategies hold liquidity. Published price: Yearn's yVaults overview (docs.yearn.fi, read 2026-11-03): vaults "had 20% performance fees and 2% management fees, but this has changed and yVaults now have a dynamic fee structure." It adds: "For vaults deployed by the vault factory the performance fee is…
Best for: Fee transparency — 8/10
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Written and reviewed by Mathias Siemonsmeier, Founder
Not financial advice · For informational purposes only · Always do your own research