WisdomTree Emerging Markets High Dividend Fund
ALTAR
Score™
16.6% info Recommen-
dation
SPECULATIVE
2020E    2021E
P/E
ratio
7.5x P/Sales
ratio
0.6x
P/BV
ratio
0.7x Div.
yield
7.3%


  • 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) $1,624
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 491
Wgt avg mkt cap (mns) $35,482
Large cap (>$10bn) 53.5%
Mid cap ($2-10bn) 32.3%
Small cap (<$2bn) 14.1%
Developed mkts 8.9%
Emerging mkts 91.0%

TOP TEN HOLDINGS
GAZPROM OAO-SPON ADR 4.6 %
CHINA CONSTRUCTION BANK-H 3.5 %
HON HAI PRECISION INDUSTRY 3.4 %
PUBLIC JOINT STOCK COMPANY MINING 3.3 %
CHINA MOBILE LIMITED 3.1 %
OIL COMPANY LUKOIL PJSC SPONSORED 2.9 %
TATNEFT PJSC SPONSORED ADR 2.8 %
IND & COMM BK OF CHINA - H 2.3 %
SBERBANK-SPONSORED ADR 1.9 %
CHINA PETROLEUM & CHEMICAL-H 1.9 %
Total 29.8 %

TOP COUNTRY EXPOSURE
TAIWAN 25.3 %
CHINA 23.6 %
RUSSIA 19.5 %
HONG KONG 8.1 %
SOUTH AFRICA 4.5 %
SOUTH KOREA 3.0 %
BRAZIL 2.8 %
INDIA 2.1 %
MALAYSIA 1.8 %
MEXICO 1.7 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru March 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-29.5% -22.7% -1.2% -0.7% 0.8%

Market Correlations
versus... Beta R-squared
S&P500 0.94 58%
MSCI EAFE 1.07 73%
MSCI Emg. Mkts. 0.98 90%

Technical Indicators
Recent close $32.16
30d moving avg. $35.33
Annualized volatility 18.8%
Short interest (ETF) 0.1%
Relative strength (RSI) 36

Liquidity measures
Avg. volume (thou.) 942
Turnover 1.9%
Bid/Ask (% of price) 0.26%
ADV underlying (mns) $7,287

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the WisdomTree Emerging Markets High Dividend Fund 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™: 16.6%


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
(%)
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 34.2 39 24 15.3 -1.3
PXH Invesco FTSE RAFI Emerging Markets ETF 29.9 50 13 16.0 -0.6
CEY VictoryShares Emerging Market High Dividend Volatility Wtd E 27.0 51 12 20.4 +3.8
JHEM John Hancock Multifactor Emerging Markets ETF 24.0 55 8 10.8 -5.8
LVHE Legg Mason Emerging Markets Low Volatility High Dividend ETF 23.2 51 12 13.8 -2.8
CEZ Victory CEMP Emerging Market Volatility Wtd Index ETF 23.0 50 13 12.6 -4.0
AXJL WisdomTree Asia Pacific ex-Japan Fund 23.0 48 15 11.0 -5.6
ROAM Hartford Multifactor Emerging Markets ETF 22.4 44 19 17.8 +1.2
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 21.6 45 18 10.6 -6.0
EWT iShares MSCI Taiwan ETF 21.3 59 4 7.7 -8.9
FLTW Franklin FTSE Taiwan ETF 20.4 19 44 8.1 -8.5
AVEM Avantis Emerging Markets Equity ETF 20.4 33 30 11.7 -4.9
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 20.4 30 33 10.8 -5.8
EELV Invesco S&P Emerging Markets Low Volatility ETF 19.7 29 34 12.5 -4.1
GXC SPDR S&P China ETF 19.5 59 4 10.1 -6.5
GMF SPDR S&P Emerging Asia Pacific ETF 19.5 49 14 9.4 -7.2
MCHI iShares MSCI China ETF 19.2 59 4 10.2 -6.4
SPEM SPDR Portfolio Emerging Markets ETF 19.1 11 52 10.2 -6.4
RSX VanEck Vectors Russia ETF 19.1 65 -2 16.3 -0.3
RNEM Emerging Markets Equity Select ETF 19.1 75 -12 11.6 -4.9
EEMA iShares MSCI Emerging Markets Asia ETF 18.8 50 13 10.1 -6.5
FLCH Franklin FTSE China ETF 18.6 19 44 10.4 -6.2
FXI iShares China Large-Cap ETF 18.4 74 -11 14.6 -2.0
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 18.1 59 4 13.2 -3.4
EDIV SPDR S&P Emerging Markets Dividend ETF 17.7 49 14 13.3 -3.3
ISEM Invesco Strategic Emerging Markets ETF 17.3 35 28 11.9 -4.7
VWO Vanguard FTSE Emerging Markets ETF 17.2 10 53 10.5 -6.1
SCHE Schwab Emerging Markets Equity ETF 17.1 13 50 10.3 -6.3
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 16.7 32 31 11.4 -5.2
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 16.7 30 33 10.4 -6.2
EMMF WisdomTree Emerging Markets Multifactor Fund 16.5 48 15 11.8 -4.7
AIA iShares Asia 50 ETF 16.4 50 13 10.1 -6.5
HDAW Xtrackers MSCI All World ex US High Dividend Yield Hedged 16.3 20 43 13.0 -3.6
ECOW Pacer Emerging Markets Cash Cows 100 ETF 16.1 70 -7 15.5 -1.1
PBEE Invesco PureBeta FTSE Emerging Markets ETF 15.9 14 49 11.3 -5.3
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 15.6 65 -2 10.0 -6.6
EEM iShares MSCI Emerging Markets ETF 15.6 68 -5 10.0 -6.6
BKF iShares MSCI BRIC ETF 15.5 69 -6 10.0 -6.6
IEMG iShares Core MSCI Emerging Markets ETF 15.4 14 49 10.5 -6.1
FLAX Franklin FTSE Asia Ex Japan ETF 15.3 19 44 10.0 -6.6
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 15.3 49 14 11.1 -5.5
DVYE iShares Emerging Markets Dividend ETF 15.2 49 14 15.1 -1.5
DVEM WisdomTree Emerging Markets Dividend Fund 15.1 32 31 11.0 -5.6
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 15.1 45 18 10.3 -6.3
AAXJ iShares MSCI All Country Asia ex Japan ETF 15.1 68 -5 9.4 -7.2
KALL KraneShares FTSE Emerging Markets Plus ETF 15.0 49 14 10.1 -6.5
EMGF iShares Edge MSCI Multifactor Emerging Markets ETF 15.0 45 18 11.8 -4.8
CHIL Global X MSCI China Large-Cap 50 ETF 14.5 29 34 10.6 -6.0
EEMV iShares Edge MSCI Min Vol Emerging Markets ETF 14.5 25 38 9.7 -6.8
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 14.1 95 -32 12.3 -4.3
WCHN WisdomTree ICBCCS S&P China 500 Fund 14.0 55 8 9.8 -6.8
UEVM VictoryShares USAA MSCI Emerging Markets Value Momentum ETF 13.4 45 18 16.3 -0.3
EDOG ALPS Emerging Sector Dividend Dogs ETF 13.2 60 3 13.1 -3.5
DGS WisdomTree Emerging Markets SmallCap Dividend Fund 13.2 63 0 16.2 -0.3
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 13.1 40 23 8.9 -7.7
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 13.1 49 14 10.3 -6.3
CN Xtrackers MSCI All China Equity ETF 12.9 50 13 10.5 -6.1
EMXC iShares MSCI Emerging Markets ex China ETF 12.8 49 14 10.3 -6.2
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 12.7 20 43 9.2 -7.4
FRDM Freedom 100 Emerging Markets ETF 12.4 49 14 9.2 -7.4
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 12.4 32 31 8.5 -8.1
FDEM Fidelity Targeted Emerging Markets Factor ETF 12.2 45 18 11.6 -5.0
ESGE iShares ESG MSCI EM ETF 11.9 25 38 11.6 -5.0
XCEM Columbia EM Core ex-China ETF 11.7 16 47 9.7 -6.9
FEM First Trust Emerging Markets AlphaDEX Fund 10.7 80 -17 14.7 -1.9
VYMI Vanguard International High Dividend Yield ETF 10.5 32 31 12.4 -4.2
CHIX Global X China Financials ETF 10.2 65 -2 19.4 +2.8
DEW WisdomTree Global High Dividend Fund 10.1 58 5 11.6 -5.0
NUEM Nuveen ESG Emerging Markets Equity ETF 9.2 45 18 9.3 -7.3
MXDE Nationwide Maximum Diversification Emerging Mkts Core Eq 9.1 64 -1 7.7 -8.9
IQDY FlexShares International Quality Dividend Dynamic Index Fund 9.1 47 16 17.4 +0.8
FCA First Trust China AlphaDEX Fund 9.1 80 -17 16.7 +0.1
IQDE FlexShares International Quality Dividend Defensive Index Fd 8.7 47 16 15.5 -1.1
VIDI Vident International Equity Fund 8.4 59 4 15.1 -1.5
EWX SPDR S&P Emerging Markets Small Cap ETF 8.2 65 -2 8.7 -7.9
EEMS iShares MSCI Emerging Markets Small Cap ETF 8.0 69 -6 9.9 -6.7
IQDF FlexShares International Quality Dividend Index Fund 7.9 47 16 16.2 -0.4
EYLD Cambria Emerging Shareholder Yield ETF 7.8 66 -3 20.6 +4.0
EMCG WisdomTree Emerging Markets Consumer Growth Fund 7.6 32 31 9.2 -7.4
BICK First Trust BICK Index Fund 7.4 64 -1 6.4 -10.2
SDEM Global X SuperDividend Emerging Markets ETF 7.2 67 -4 26.0 +9.4
ACWF iShares FactorSelect MSCI Global ETF 7.1 35 28 10.2 -6.4
SDIV Global X SuperDividend ETF 6.7 58 5 25.1 +8.5
LVIN Hartford Multifactor Low Volatility International Equity ETF 6.4 29 34 14.7 -1.9
PIE Invesco DWA Emerging Markets Momentum ETF 6.3 90 -27 7.1 -9.5
DNL WisdomTree Global ex-US Dividend Growth Fund 6.3 58 5 9.5 -7.1
EEMD AAM S&P Emerging Markets High Dividend Value ETF 6.1 50 13 25.2 +8.6
ECON Columbia Emerging Markets Consumer ETF 5.9 59 4 5.8 -10.8
MOTI VanEck Vectors Morningstar International Moat ETF 5.7 57 6 10.6 -6.0
HAP VanEck Vectors Natural Resources ETF 5.4 50 13 8.5 -8.1
GNR SPDR S&P Global Natural Resources ETF 5.4 40 23 8.7 -7.9
CHIE Global X China Energy ETF 5.2 66 -3 11.2 -5.3
DTH WisdomTree DEFA Equity Income Fund 5.1 58 5 12.5 -4.1
FLLA Franklin FTSE Latin America ETF 4.9 19 44 9.4 -7.2
DGT SPDR Global Dow ETF 4.7 50 13 8.8 -7.8
VEU Vanguard FTSE All-World ex-US Index Fund 4.7 8 55 9.7 -6.9
FILL iShares MSCI Global Energy Producers ETF 4.6 39 24 8.5 -8.1
ACWX iShares MSCI ACWI ex U.S. ETF 4.6 32 31 9.4 -7.2
IXUS ishares Core MSCI Total International Stock ETF 4.3 9 54 9.5 -7.1
KBA KraneShares Bosera MSCI China A Share ETF 4.3 60 3 8.7 -7.9

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

  2015 2016 2017 2018 2019 2020E 2021E
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
  2019 2020E 2021E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:
WisdomTree Emerging Markets High Dividend Fund
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 11.8 %
Divided by: Fwd. P/BV 0.7 x
Less: Expense ratio 63 bp
Equals: ALTAR Score 16.6 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.51 CATEGORY
AVERAGE
1.45
 
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.