WisdomTree Emerg Mkts High Yield Equity
ALTAR
Score™
12.3% info Recommen-
dation
SPECULATIVE
2019E    2020E
P/E
ratio
8.4x P/Sales
ratio
0.7x
P/BV
ratio
1.0x Div.
yield
6.3%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Fund seeks investment results that correspond to the price and yield performance, before fees and expenses, of the WisdomTree Emerging Markets High Yield Index, comprised of stocks with the highest 30% of yields in the WT Emerging Markets Dividend Index, and is weighted by the dollar value of dividends.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor WisdomTree
Website www.wisdomtree.com
Inception date Jul 13, 2007
Assets (mns) $2,237
Currency USD
Expense ratio 63 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian Bank of New York Mellon
Weighting Dividend
Index replication Optimized
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 505
Wgt avg mkt cap (mns) $36,856
Large cap (>$10bn) 58.0%
Mid cap ($2-10bn) 31.1%
Small cap (<$2bn) 10.6%
Developed mkts 7.3%
Emerging mkts 92.6%

TOP TEN HOLDINGS
GAZPROM OAO-SPON ADR 5.4 %
HON HAI PRECISION INDUSTRY 3.2 %
OIL COMPANY LUKOIL PJSC SPONSORED 3.1 %
TATNEFT PJSC SPONSORED ADR 3.1 %
PUBLIC JOINT STOCK COMPANY MINING 2.7 %
CHINA CONSTRUCTION BANK-H 2.7 %
SBERBANK-SPONSORED ADR 2.2 %
CHINA MOBILE LIMITED 2.2 %
IND & COMM BK OF CHINA - H 1.8 %
CNOOC LTD 1.7 %
Total 28.0 %

TOP COUNTRY EXPOSURE
TAIWAN 22.4 %
RUSSIA 20.1 %
CHINA 18.9 %
SOUTH AFRICA 6.8 %
HONG KONG 6.5 %
BRAZIL 4.2 %
INDIA 3.5 %
SOUTH KOREA 3.4 %
MEXICO 2.3 %
MALAYSIA 1.8 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru November 30)
Year-to-date 1 year 5 years 10 years Since Incep.
11.7% 9.1% 3.1% 3.1% 3.1%

Market Correlations
versus... Beta R-squared
S&P500 0.74 44%
MSCI EAFE 0.97 61%
MSCI Emg. Mkts. 0.90 84%

Technical Indicators
Recent close $43.43
30d moving avg. $43.53
Annualized volatility 13.6%
Short interest (ETF) 0.7%
Relative strength (RSI) 50

Liquidity measures
Avg. volume (thou.) 207
Turnover 0.4%
Bid/Ask (% of price) 0.08%
ADV underlying (mns) $5,335

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the WisdomTree Emerg Mkts High Yield Equity ETF based on the alternatives' overlap in portfolio holdings with DEM. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: DEM Expense: 63 bp ALTAR Score™: 12.3%


ALTERNATIVE ETFs BASED ON OVERLAP WITH DEM
Ticker Fund
Name
Overlap1
vs DEM
(%)
Expense
ratio
(bp)
Savings
vs DEM
(bp)
ALTAR
Score™
(%)
ALTAR
vs DEM
(%)
DVEM WisdomTree Emerging Markets Dividend 50.2 32 31 11.2 -1.0
FNDE Schwab Fundamental Emg Mkt Large Cap 31.1 39 24 11.0 -1.2
PXH Invesco FTSE-RAFI Emerging Markets 28.9 50 13 12.2 -0.0
CEY VictoryShares Emg. Mkt. High Dividend Volatility Wtd. 26.2 50 13 13.3 +1.1
JHEM John Hancock Multifactor Emerging Markets 24.6 55 8 8.7 -3.5
REEM Invesco Emerging Markets Revenue ETF 24.2 46 17 11.8 -0.5
CEZ Victory CEMP Emerging Market Volatility Weighted 22.1 50 13 9.2 -3.1
ROAM Hartford Multifactor Emerging Markets 22.1 44 19 11.1 -1.2
AXJL WisdomTree Asia Pacific Ex-Japan 21.4 48 15 9.2 -3.1
AVEM Avantis Emerging Markets Equity 21.2 33 30 8.4 -3.9
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity 21.1 49 14 8.8 -3.4
JPEM JPMorgan Diversified Rtn Emg Mkt Equity 21.1 45 18 8.8 -3.5
QEMM SPDR MSCI Emerging Markets Quality Mix 20.1 30 33 9.0 -3.2
RSX VanEck Vectors Russia ETF 19.8 65 -2 12.4 +0.1
SPEM SPDR Portfolio Emerging Markets 19.3 11 52 8.4 -3.9
LVHE Legg Mason Emerging Markets Low Volatility High Dividend 19.2 51 12 12.4 +0.1
GMF SPDR S&P Emerging Asia Pacific 19.2 49 14 8.0 -4.2
EWT iShares MSCI Taiwan 19.0 59 4 6.6 -5.7
EEMA iShares MSCI Emg Mkts Asia 18.5 50 13 8.6 -3.6
FLTW Franklin FTSE Taiwan 18.3 19 44 6.9 -5.4

1Overlap is the percentage of holdings by weight that are identical. For example, if Fund A has a 2% position in Apple, Inc. (AAPL) and Fund B has a 5% position, their overlapping position in AAPL is 2%.

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RESULTS & ESTIMATES

  2014 2015 2016 2017 2018 2019E 2020E
Sales per share ** ** ** ** ** ** **
Earnings per share ** ** ** ** ** ** **
Dividends per share info ** ** ** ** ** ** **
Book value per share ** ** ** ** ** ** **

 

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

OTHER FUNDAMENTAL METRICS

Long term EPS growth est. **%   Debt-to-equity **x
Asset turnover **%   Assets-to-equity **x

Return on equity

Revision activity*
*Six months ago = 100

Net margins

Compound annual growth rates

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VALUATION METRICS
  2018 2019E 2020E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:
WisdomTree Emerg Mkts High Yield Equity
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

SPECULATIVE

Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 12.2 %
Divided by: Fwd. P/BV 0.9 x
Less: Expense ratio 63 bp
Equals: ALTAR Score 12.3 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.53 CATEGORY
AVERAGE
1.49
 
The composite rating is a weighted average of analysts' consensus recommendations for individual ETF constituents, based on the following scale:

BUY = 1; OVERWEIGHT = 1.5, HOLD = 2; UNDERWEIGHT = 2.5; and SELL = 3.

Readers are cautioned that because analyst ratings tend to be inflated, the composite score may be more useful as a relative measure of sentiment between funds rather than as a stand-alone recommendation.
 

 

See RATING tab for calculation of ALTAR Score™
Risk & reward. Uses std. dev. as proxy for risk, ALTAR Score™ for return forecast.
Dividends paid by constituents to the fund. May differ from actual distributions to shareholders due to constituent changes, timing issues or other factors.
Monthly returns based on changes in price plus dividends. May differ from daily returns reported by funds. See below for standardized returns.