WisdomTree Dividend Ex-Financials
ALTAR
Score™
7.8% info Recommen-
dation
SPECULATIVE
2019E    2020E
P/E
ratio
15.3x P/Sales
ratio
1.2x
P/BV
ratio
2.0x Div.
yield
3.9%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
WisdomTree Dividend ex-Financials Fund seeks investment results that correspond to the performance of the WT Dividend ex-Financial Index.

FUND BASICS
Category US Equities
Fund Sponsor WisdomTree ETFs/USA
Website www.wisdomtree.com
Inception date Jun 16, 2006
Assets (mns) $841
Currency USD
Expense ratio 38 bp
Distributions Monthly

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 101
Wgt avg mkt cap (mns) $64,297
Large cap (>$10bn) 94.1%
Mid cap ($2-10bn) 5.9%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
OCCIDENTAL PETROLEUM CORP 2.6 %
CENTURYTEL INC 1.9 %
WILLIAMS COS INC 1.8 %
ALTRIA GROUP INC 1.8 %
FORD MOTOR CO 1.7 %
PHILIP MORRIS INTERNATIONAL 1.5 %
VENTAS INC 1.5 %
SIMON PROPERTY GROUP INC 1.5 %
MEDICAL PROPERTIES TRUST INC 1.5 %
AT&T INC 1.4 %
Total 17.3 %

TOP COUNTRY EXPOSURE
UNITED STATES 99.2 %










HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru December 31)
Year-to-date 1 year 5 years 10 years Since Incep.
24.4% 24.4% 7.5% 12.3% 8.4%

Market Correlations
versus... Beta R-squared
S&P500 1.00 90%
MSCI EAFE 0.94 66%
MSCI Emg. Mkts. 0.61 48%

Technical Indicators
Recent close $93.93
30d moving avg. $91.74
Annualized volatility 12.7%
Short interest (ETF) 0.2%
Short interest (Underlying) 3.7%
Relative strength (RSI) 76

Liquidity measures
Avg. volume (thou.) 21
Turnover 0.2%
Bid/Ask (% of price) 0.04%
ADV underlying (mns) $28,156

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: DTN Expense: 38 bp ALTAR Score™: 7.8%


ALTERNATIVE ETFs BASED ON OVERLAP WITH DTN
Ticker Fund
Name
Overlap1
vs DTN
(%)
Expense
ratio
(bp)
Savings
vs DTN
(bp)
ALTAR
Score™
(%)
ALTAR
vs DTN
(%)
RNDV US Equity Dividend Select 47.9 50 -12 7.3 -0.5
SPYD SPDR Portfolio S&P 500 High Dividend 46.9 7 31 8.8 +1.1
CDL Victory CEMP US Large Cap High Div Volatility Wtd 42.9 35 3 7.5 -0.3
CDC Victory CEMP US EQ Income Enhanced Volatility Wtd 42.9 35 3 7.5 -0.3
SDOG ALPS Sector Dividend Dogs 41.4 40 -2 9.6 +1.8
SPHD Invesco S&P 500 High Dividend 39.7 30 8 7.5 -0.3
USDY Pacific Global US Equity Income 39.3 29 9 7.1 -0.7
OYLD Invesco Russell 1000 Yield Factor ETF 37.9 19 19 6.8 -0.9
DLN WisdomTree Large Cap Dividend 37.4 28 10 6.3 -1.5
DHS WisdomTree Equity Income 37.1 38 0 7.6 -0.1
SPDV AAM S&P 500 High Dividend Value 37.0 29 9 10.3 +2.5
DVY iShares Select Dividend 36.5 39 -1 7.6 -0.1
VYM Vanguard High Dividend Yield ETF 36.1 6 32 6.9 -0.8
JDIV JPMorgan U.S. Dividend 35.2 12 26 7.0 -0.7
FDRR Fidelity Dividend for Rising Rates 34.8 29 9 7.3 -0.5
DTD WisdomTree Total Dividend 34.1 28 10 6.4 -1.3
FDVV Fidelity Core Dividend 34.0 29 9 6.9 -0.8
EQWL Invesco Fundamental Pure Large Core 32.8 25 13 6.0 -1.8
OUSA O'Shares FTSE U.S. Quality Dividend 32.6 48 -10 5.7 -2.1
FLQL Franklin LibertyQ U.S. Equity 32.3 15 23 6.4 -1.4

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 Dividend Ex-Financials
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 15.4 %
Divided by: Fwd. P/BV 1.9 x
Less: Expense ratio 38 bp
Equals: ALTAR Score 7.8 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.66 CATEGORY
AVERAGE
1.55
 
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.