ETF Research Center

WisdomTree Emerging Markets Dividend Growth Fund is an exchange-traded fund incorporated in the USA. The Fund seeks investment results that correspond to the WisdomTree Emerging Markets Dividend Growth Index. The Fund invests in dividend-paying companies with growth characteristics that are incorporated in emerging markets.

FUND BASICS
Category	Emerging Market Equities
Fund Sponsor	WisdomTree Asset Management In
Website	www.wisdomtree.com
Inception date	Aug 01, 2013
Assets (mns)	$69
Currency	USD
Expense ratio	32 bp
Distributions	Quarterly

FUND STRUCTURE
Regulation	Open-Ended Fund
Custodian	WisdomTree Asset Management Inc
Weighting	Dividend
Index replication	Optimized
Uses derivatives	No
Options available	No

SECTOR BREAKDOWN

CONSTITUENT BREAKDOWN
No. of constituents	278
Wgt avg mkt cap (mns)	$45,088
Large cap (>$10bn)	47.4%
Mid cap ($2-10bn)	48.5%
Small cap (<$2bn)	3.7%
Developed mkts	9.3%
Emerging mkts	90.7%

TOP TEN HOLDINGS
Total	14.2 %
TENCENT HOLDINGS LTD	3.2 %
TAIWAN SEMICONDUCTOR MANUFAC	3.0 %
SAMSUNG ELECTRONICS CO LTD	2.6 %
PING AN INSURANCE GROUP CO-H	1.0 %
OIL COMPANY LUKOIL PJSC SPONSORED	0.8 %
SBERBANK-SPONSORED ADR	0.8 %
ITAU UNIBANCO HOLDING SA	0.8 %
HYNIX SEMICONDUCTOR INC	0.7 %
INFOSYS TECHNOLOGIES LTD	0.7 %
PUBLIC JOINT STOCK COMPANY MINING	0.6 %

TOP COUNTRY EXPOSURE
	CHINA	22.6 %
	TAIWAN	11.1 %
	SOUTH KOREA	9.7 %
	INDIA	8.7 %
	HONG KONG	8.5 %
	BRAZIL	7.3 %
	INDONESIA	6.6 %
	SOUTH AFRICA	4.4 %
	RUSSIA	4.3 %
	THAILAND	3.7 %

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.
11.4%	8.0%	1.5%	--	3.1%

Market Correlations
versus...	Beta	R-squared
S&P500	0.79	51%
MSCI EAFE	0.98	65%
MSCI Emg. Mkts.	0.90	88%

Technical Indicators
Recent close	$24.61
30d moving avg.	$24.60
Annualized volatility	13.4%
Short interest (ETF)	0.0%
Relative strength (RSI)	52

Liquidity measures
Avg. volume (thou.)	6
Turnover	0.2%
Bid/Ask (% of price)	0.43%
ADV underlying (mns)	$8,225

Distributions

FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the WisdomTree Emg Mkt Dividend Growth ETF based on the alternatives' overlap in portfolio holdings with DGRE. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker:

DGRE

Expense:

32 bp

ALTAR Score™:

9.0%

ALTERNATIVE ETFs BASED ON OVERLAP WITH DGRE
Ticker	Fund Name	Overlap¹ vs DGRE (%)	Expense ratio (bp)	Savings vs DGRE (bp)	ALTAR Score™ (%)	ALTAR vs DGRE (%)
EMCG	WisdomTree Emg Mkts Consumer Growth	48.9	32	0	6.7	-2.3
JHEM	John Hancock Multifactor Emerging Markets	38.3	55	-23	8.8	-0.3
GEM	Goldman Sachs ActiveBeta Emg Mkts Equity	37.4	45	-13	9.0	-0.0
QEMM	SPDR MSCI Emerging Markets Quality Mix	33.7	30	2	9.0	0.0
EEMX	SPDR MSCI Emerging Markets Fossil Fuel Free	32.8	30	2	8.4	-0.6
EEMA	iShares MSCI Emg Mkts Asia	32.4	50	-18	8.7	-0.4
XSOE	WisdomTree Emg Mkt ex-SOE	31.5	32	0	6.8	-2.2
EEM	iShares MSCI Emerging Markets	31.4	67	-35	8.5	-0.6
DVEM	WisdomTree Emerging Markets Dividend	31.2	32	0	11.3	+2.2
DBEM	Xtrackers MSCI Emg. Mkts. Hedged	30.6	65	-33	8.3	-0.7
EMMF	WisdomTree Emerging Markets Multifactor Fund	29.6	48	-16	10.1	+1.0
IEMG	iShares Core MSCI Emerging Markets	29.6	14	18	8.6	-0.4
AAXJ	iShares MSCI Asia ex-Japan	28.7	67	-35	8.2	-0.8
JPEM	JPMorgan Diversified Rtn Emg Mkt Equity	28.4	45	-13	8.8	-0.2
FLAX	Franklin FTSE Asia Ex Japan	27.8	19	13	8.6	-0.4
ESGE	iShares MSCI EM ESG Optimized	27.6	25	7	9.2	+0.2
CEZ	Victory CEMP Emerging Market Volatility Weighted	27.5	50	-18	9.2	+0.2
SCHE	Schwab Emerging Markets Equity	27.1	13	19	8.6	-0.4
EMGF	iShares Edge MSCI Multifactor Emerging Markets	26.9	45	-13	9.9	+0.9
RFEM	First Trust Riverfront Dynamic Emerging Markets	25.5	95	-63	10.5	+1.5

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	**	**	**	**	**	**	**
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 Emg Mkt Dividend Growth
Relative to:	S&P500	MSCI EAFE	MSCI Emg. Mkts.	Other ETF:

NEUTRAL

Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.

ALTAR Score™

Calculation of ALTAR Score™
Avg. Return on Equity	14.4	%
Divided by: Fwd. P/BV	1.5	x
Less: Expense ratio	32	bp
Equals: ALTAR Score	9.0	%

More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS

COMPOSITE RATING	1.47	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.