WisdomTree Global ex-US Dividend Growth Fund
ALTAR
Score™		 8.1% info Recommen-
dation		 NEUTRAL
2020E    2021E
P/E
ratio		 16.4x P/Sales
ratio		 2.7x
P/BV
ratio		 3.0x Div.
yield		 3.3%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
WisdomTree Global ex-US Growth Fund seeks investment results that closely correspond to the price and yield performance, before fees and expenses, of the WisdomTree World ex-U.S. Growth Index.

FUND BASICS
Category International Equities
Fund Sponsor WisdomTree ETFs/USA
Website www.wisdomtree.com
Inception date Jun 16, 2006
Assets (mns) $135
Currency USD
Expense ratio 58 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 No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 254
Wgt avg mkt cap (mns) $58,774
Large cap (>$10bn) 79.3%
Mid cap ($2-10bn) 19.6%
Small cap (<$2bn) 1.0%
Developed mkts 81.7%
Emerging mkts 18.4%

TOP TEN HOLDINGS
NOVO NORDISK A/S-B 7.7 %
BRITISH AMERICAN TOBACCO PLC 7.1 %
FORTESCUE METALS GROUP LTD 3.6 %
CHINA OVERSEAS LAND & INVEST 3.2 %
ASML HOLDING NV 3.2 %
CANADIAN NATL RAILWAY CO 2.9 %
REED ELSEVIER PLC 2.8 %
TELENOR ASA 2.5 %
CHUGAI PHARMACEUTICAL CO LTD 2.5 %
CSL LIMITED 2.5 %
Total 38.0 %

TOP COUNTRY EXPOSURE
BRITAIN 14.6 %
JAPAN 13.3 %
DENMARK 12.9 %
AUSTRALIA 8.2 %
SWITZERLAND 6.3 %
CANADA 5.1 %
HONG KONG 4.9 %
INDIA 3.9 %
NETHERLANDS 3.7 %
CHINA 3.3 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru May 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-6.3% 15.6% 5.4% 5.7% 3.5%

Market Correlations
versus... Beta R-squared
S&P500 0.87 85%
MSCI EAFE 0.96 89%
MSCI Emg. Mkts. 0.75 83%

Technical Indicators
Recent close $61.37
30d moving avg. $57.96
Annualized volatility 16.0%
Short interest (ETF) 0.4%
Relative strength (RSI) 64

Liquidity measures
Avg. volume (thou.) 15
Turnover 0.7%
Bid/Ask (% of price) 0.18%
ADV underlying (mns) $9,626

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 potential alternatives to the WisdomTree Global ex-US Dividend Growth Fund ETF based on the alternatives' overlap in portfolio holdings with DNL. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: DNL Expense: 58 bp ALTAR Score™: 8.1%


ALTERNATIVE ETFs BASED ON OVERLAP WITH DNL
Ticker Fund
Name		 Overlap1
vs DNL
(%)		 Expense
ratio
(bp)		 Savings
vs DNL
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs DNL
(%)
IQDG WisdomTree International Quality Dividend Growth Fund 42.4 38 20 6.7 -1.4
IHDG WisdomTree International Hedged Quality Dividend Growth Fund 42.0 58 0 6.6 -1.5
EUDG WisdomTree Europe Quality Dividend Growth Fund 25.4 58 0 6.4 -1.7
IDHQ Invesco S&P International Developed High Quality ETF 22.4 29 29 5.6 -2.5
QINT American Century Quality Diversified International ETF 21.4 39 19 6.2 -1.9
IDMO Invesco S&P International Developed Momentum ETF 20.2 25 33 4.8 -3.3
IQLT iShares Edge MSCI Intl Quality Factor ETF 20.2 30 28 6.5 -1.6
IMTM iShares Edge MSCI Intl Momentum Factor ETF 18.1 30 28 5.0 -3.0
PIZ Invesco DWA Developed Markets Momentum ETF 16.8 80 -22 4.3 -3.8
TTAI TrimTabs All Cap International Free-Cash-Flow ETF 16.4 61 -3 5.2 -2.9
GXF Global X FTSE Nordic Region ETF 15.2 58 0 11.6 +3.5
VIGI Vanguard International Dividend Appreciation ETF 14.7 25 33 6.2 -1.9
EFG iShares MSCI EAFE Growth ETF 13.5 40 18 4.9 -3.2
DWCR Arrow DWA Country Rotation ETF 13.1 95 -37 18.1 +10.0
EDEN iShares MSCI Denmark Capped ETF 12.9 53 5 6.2 -1.9
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 12.3 32 26 9.9 +1.8
RFEU First Trust Riverfront Dynamic Europe ETF 12.2 83 -25 5.1 -2.9
RFDI First Trust Riverfront Dynamic Developed International ETF 12.2 83 -25 6.7 -1.4
RFAP First Trust Riverfront Dynamic Asia Pacific ETF 11.9 83 -25 7.6 -0.5
IMOM Alpha Architect International Quantitative Momentum ETF 11.8 59 -1 4.4 -3.7
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 11.7 16 42 7.5 -0.6
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 11.7 30 28 9.7 +1.7
QEFA SPDR MSCI EAFE Quality Mix ETF 11.4 30 28 7.1 -1.0
JHEM John Hancock Multifactor Emerging Markets ETF 11.2 55 3 9.3 +1.3
VSGX Vanguard ESG International Stock ETF 10.9 17 41 7.8 -0.3
IQDY FlexShares International Quality Dividend Dynamic Index Fund 10.3 47 11 14.5 +6.4
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 10.3 40 18 7.9 -0.2
IXUS ishares Core MSCI Total International Stock ETF 10.2 9 49 8.1 -0.0
TPIF Timothy Plan International ETF 10.2 62 -4 7.4 -0.7
GSIE Goldman Sachs ActiveBeta International Equity ETF 10.1 25 33 7.2 -0.9
NUDM Nuveen ESG International Developed Markets Equity ETF 10.0 40 18 7.2 -0.9
CWI SPDR MSCI ACWI ex-US ETF 10.0 30 28 8.0 -0.1
VEU Vanguard FTSE All-World ex-US Index Fund 10.0 8 50 8.2 +0.1
EUMV iShares Edge MSCI Min Vol Europe ETF 9.9 25 33 5.7 -2.4
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 9.9 14 44 7.3 -0.7
ACWX iShares MSCI ACWI ex U.S. ETF 9.9 32 26 8.0 -0.1
VXUS Vanguard Total International Stock Index Fund 9.6 8 50 8.2 +0.2
EEMA iShares MSCI Emerging Markets Asia ETF 9.6 50 8 8.8 +0.7
AXJL WisdomTree Asia Pacific ex-Japan Fund 9.4 48 10 10.1 +2.0
SCHE Schwab Emerging Markets Equity ETF 9.3 13 45 9.1 +1.0
EEM iShares MSCI Emerging Markets ETF 9.3 68 -10 8.7 +0.7
IGRO iShares International Dividend Growth ETF 9.2 22 36 8.5 +0.5
EWU iShares MSCI United Kingdom ETF 9.2 50 8 7.4 -0.7
QGBR SPDR MSCI UK StrategicFactors ETF 9.1 14 44 7.9 -0.2
IEV iShares Europe ETF 9.1 59 -1 7.2 -0.9
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 9.0 25 33 7.0 -1.1
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 9.0 20 38 7.6 -0.5
VWO Vanguard FTSE Emerging Markets ETF 8.9 10 48 9.3 +1.2
CIL VictoryShares International Volatility Weighted Index ETF 8.9 45 13 7.1 -1.0
HFXE IQ 50 PERCENT HEDGED FTSE EUROPE ETF 8.9 30 28 7.3 -0.8
FLEE Franklin FTSE Europe ETF 8.9 9 49 7.4 -0.7
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 8.9 65 -7 8.9 +0.8
FDEV Fidelity Targeted International Factor ETF 8.9 39 19 6.8 -1.3
EUDV ProShares MSCI Europe Dividend Growers ETF 8.8 55 3 7.1 -1.0
IEMG iShares Core MSCI Emerging Markets ETF 8.8 14 44 9.2 +1.1
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 8.8 45 13 9.0 +1.0
FLAX Franklin FTSE Asia Ex Japan ETF 8.7 19 39 8.9 +0.8
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 8.7 32 26 7.2 -0.9
BBEU JPMorgan BetaBuilders Europe ETF 8.7 9 49 7.7 -0.4
AAXJ iShares MSCI All Country Asia ex Japan ETF 8.7 68 -10 8.4 +0.3
SCHF Schwab International Equity ETF 8.6 6 52 7.9 -0.2
FLGB Franklin FTSE United Kingdom ETF 8.6 9 49 7.9 -0.2
FLEH Franklin FTSE Europe Hedged ETF 8.6 9 49 7.5 -0.6
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 8.6 39 19 7.1 -1.0
IEUR iShares Core MSCI Europe ETF 8.6 9 49 7.7 -0.4
IDEV iShares Core MSCI International Developed Markets ETF 8.6 5 53 7.7 -0.4
DBEU Xtrackers MSCI Europe Hedged Equity ETF 8.5 45 13 7.1 -1.0
EFA iShares MSCI EAFE ETF 8.4 32 26 7.6 -0.4
BKF iShares MSCI BRIC ETF 8.4 69 -11 8.9 +0.8
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 8.3 95 -37 10.7 +2.6
FEU SPDR Portfolio Europe ETF 8.3 9 49 7.7 -0.4
PBDM Invesco PureBeta FTSE Developed ex-North America ETF 8.3 7 51 8.1 -0.0
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 8.3 35 23 7.5 -0.6
HFXI IQ 50 Percent Hedged FTSE International ETF 8.3 20 38 8.0 -0.1
SPDW SPDR Portfolio Developed World ex-US ETF 8.3 4 54 7.7 -0.4
OEUR O'shares FTSE Europe Quality Dividend ETF 8.3 48 10 6.8 -1.3
DOL WisdomTree International LargeCap Dividend Fund 8.2 48 10 9.0 +0.9
EMCG WisdomTree Emerging Markets Consumer Growth Fund 8.2 32 26 8.0 -0.1
IQSI IQ Candriam ESG International Equity ETF 8.1 15 43 7.7 -0.4
PDEV Principal International Multi-Factor Core Index ETF 8.1 25 33 8.4 +0.3
IEFA iShares Core MSCI EAFE ETF 8.1 7 51 7.8 -0.3
ESGD iShares MSCI EAFE ESG Optimized ETF 8.1 20 38 7.7 -0.4
JPEU JPMorgan Diversified Return Europe Equity ETF 8.0 37 21 7.2 -0.9
VGK Vanguard FTSE Europe ETF 8.0 8 50 7.8 -0.3
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 7.9 30 28 9.2 +1.1
DHDG WisdomTree Dynamic Currency Hedged Intl Quality Div Growth 7.9 48 10 0.0 -8.1
VEA Vanguard FTSE Developed Markets ETF 7.9 5 53 8.0 -0.1
AVEM Avantis Emerging Markets Equity ETF 7.9 33 25 10.0 +2.0
DWM WisdomTree International Equity Fund 7.8 48 10 8.8 +0.7
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 7.8 20 38 8.0 -0.1
SPEM SPDR Portfolio Emerging Markets ETF 7.7 11 47 9.0 +0.9
RBIN Nationwide Risk-Based International Equity ETF 7.7 42 16 6.6 -1.5
JHMD John Hancock Multifactor Developed International ETF 7.7 45 13 7.9 -0.2
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 7.7 45 13 9.4 +1.3
DOO WisdomTree International Dividend ex-Financials Fund 7.6 58 0 9.3 +1.2
GMF SPDR S&P Emerging Asia Pacific ETF 7.6 49 9 8.4 +0.3
ISZE iShares Edge MSCI Intl Size Factor ETF 7.6 30 28 7.4 -0.6
DVEM WisdomTree Emerging Markets Dividend Fund 7.6 32 26 9.5 +1.4
PXH Invesco FTSE RAFI Emerging Markets ETF 7.4 50 8 14.5 +6.4

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

  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 Global ex-US Dividend Growth Fund
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 24.6 %
Divided by: Fwd. P/BV 2.8 x
Less: Expense ratio 58 bp
Equals: ALTAR Score 8.1 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.54 CATEGORY
AVERAGE		 1.58
 
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.