ETF Research Center

WisdomTree U.S. Dividend Growth Fund is an exchange-traded fund incorporated in the USA. The fund seeks to track the price and yield performance of the WisdomTree U.S. Dividend Growth Index. The fund invest in U.S. companies that pay regular cash dividends on shares of their commons stock.

FUND BASICS
Category	US Equities
Fund Sponsor	WisdomTree Asset Management In
Website	www.wisdomtree.com
Inception date	May 22, 2013
Assets (mns)	$3,077
Currency	USD
Expense ratio	28 bp
Distributions	Monthly

FUND STRUCTURE
Regulation	Unknown
Custodian
Weighting	Dividend
Index replication	Unknown
Uses derivatives	No
Options available	Yes

SECTOR BREAKDOWN

CONSTITUENT BREAKDOWN
No. of constituents	299
Wgt avg mkt cap (mns)	$235,593
Large cap (>$10bn)	93.8%
Mid cap ($2-10bn)	6.2%
Small cap (<$2bn)	0.0%
Developed mkts	100.0%
Emerging mkts	0.0%

TOP TEN HOLDINGS
Total	33.4 %
VERIZON COMMUNICATIONS INC	5.0 %
MICROSOFT CORP	4.5 %
APPLE INC	4.5 %
PROCTER & GAMBLE CO/THE	3.9 %
MERCK & CO. INC.	2.9 %
ALTRIA GROUP INC	2.9 %
PEPSICO INC	2.9 %
INTEL CORP	2.4 %
BRISTOL-MYERS SQUIBB CO	2.2 %
UNITEDHEALTH GROUP INC	2.2 %

TOP COUNTRY EXPOSURE
	UNITED STATES	99.8 %

HISTORICAL PERFORMANCE info

	Custom date range	Compare to
	thru

Standardized Annual Returns (thru January 31)
Year-to-date	1 year	5 years	10 years	Since Incep.
-1.5%	20.0%	12.2%	--	12.9%

Market Correlations
versus...	Beta	R-squared
S&P500	1.00	96%
MSCI EAFE	0.91	65%
MSCI Emg. Mkts.	0.60	49%

Technical Indicators
Recent close	$43.99
30d moving avg.	$48.83
Annualized volatility	12.4%
Short interest (ETF)	0.3%
Short interest (Underlying)	2.5%
Relative strength (RSI)	35

Liquidity measures
Avg. volume (thou.)	308
Turnover	0.4%
Bid/Ask (% of price)	0.03%
ADV underlying (mns)	$77,725

Distributions

FINDING ALTERNATIVE FUNDS

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

Benchmark ticker:

DGRW

Expense:

28 bp

ALTAR Score™:

7.4%

ALTERNATIVE ETFs BASED ON OVERLAP WITH DGRW
Ticker	Fund Name	Overlap¹ vs DGRW (%)	Expense ratio (bp)	Savings vs DGRW (bp)	ALTAR Score™ (%)	ALTAR vs DGRW (%)
DGRO	iShares Core Dividend Growth ETF	48.1	8	20	6.8	-0.6
OVOL	Invesco Russell 1000 Low Volatility Factor ETF	45.5	19	9	5.3	-2.2
OQAL	Invesco Russell 1000 Quality Factor ETF	43.6	19	9	4.7	-2.7
OUSA	O'Shares FTSE US Quality Dividend ETF	42.3	48	-20	6.2	-1.3
PFM	Invesco Dividend Achievers ETF	41.9	54	-26	5.6	-1.9
SPXN	ProShares S&P 500 Ex-Financials ETF	41.8	27	1	5.9	-1.6
DLN	WisdomTree U.S. LargeCap Dividend Fund	41.6	28	0	6.9	-0.5
IUS	Invesco Strategic US ETF	41.1	19	9	6.2	-1.3
EPS	WisdomTree U.S. Earnings 500 Fund	41.0	8	20	7.2	-0.2
QUS	SPDR MSCI USA StrategicFactors ETF	40.6	15	13	6.2	-1.2
OMOM	Invesco Russell 1000 Momentum Factor ETF	40.0	19	9	4.9	-2.6
SPYX	SPDR S&P 500 Fossil Fuel Reserves Free ETF	39.9	20	8	6.1	-1.4
SPXE	ProShares S&P 500 Ex-Energy ETF	39.7	27	1	6.0	-1.5
PBP	Invesco S&P 500 BuyWrite ETF	39.4	49	-21	5.6	-1.8
MGC	Vanguard Mega Cap Index Fund	39.3	7	21	5.9	-1.5
HSPX	Global X S&P 500 Covered Call ETF	39.2	65	-37	5.5	-1.9
SPLG	SPDR Portfolio Large Cap ETF	39.2	3	25	6.1	-1.3
SPY	SPDR S&P 500 ETF Trust	39.2	9	19	6.1	-1.4
IVV	iShares Core S&P 500 ETF	39.1	4	24	6.1	-1.3
DIVB	iShares U.S. Dividend & Buyback ETF	39.1	25	3	6.9	-0.5

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

	2015	2016	2017	2018	2019	2020E	2021E
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

	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 U.S. Quality Dividend Growth Fund
Relative to:	S&P500	MSCI EAFE	MSCI Emg. Mkts.	Other ETF:

OVERWEIGHT

Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.

ALTAR Score™

Calculation of ALTAR Score™
Avg. Return on Equity	26.9	%
Divided by: Fwd. P/BV	3.5	x
Less: Expense ratio	28	bp
Equals: ALTAR Score	7.4	%

More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS

COMPOSITE RATING	1.55	CATEGORY AVERAGE	1.56

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.