WisdomTree Emerging Markets Dividend
ALTAR
Score™
11.2% info Recommen-
dation
SPECULATIVE
2019E    2020E
P/E
ratio
10.2x P/Sales
ratio
0.8x
P/BV
ratio
1.2x Div.
yield
4.7%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The WisdomTree Emerging Markets Dividend Fund tracks an index of emerging market stocks across the market-cap spectrum. The index holds only dividend-paying stocks, weighted by annual cash dividends paid.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor WisdomTree
Website www.wisdomtree.com
Inception date Apr 07, 2016
Assets (mns) $53
Currency USD
Expense ratio 32 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting Dividend
Index replication
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 749
Wgt avg mkt cap (mns) $60,886
Large cap (>$10bn) 64.2%
Mid cap ($2-10bn) 28.7%
Small cap (<$2bn) 6.7%
Developed mkts 7.8%
Emerging mkts 92.2%

TOP TEN HOLDINGS
TAIWAN SEMICONDUCTOR MANUFAC 5.0 %
SAMSUNG ELECTRONICS CO LTD 4.6 %
GAZPROM OAO-SPON ADR 2.5 %
CHINA CONSTRUCTION BANK-H 2.0 %
TATNEFT PJSC SPONSORED ADR 1.6 %
OIL COMPANY LUKOIL PJSC SPONSORED 1.5 %
HON HAI PRECISION INDUSTRY 1.4 %
CHINA MOBILE LIMITED 1.3 %
IND & COMM BK OF CHINA - H 1.3 %
PUBLIC JOINT STOCK COMPANY MINING 1.3 %
Total 22.5 %

TOP COUNTRY EXPOSURE
TAIWAN 20.3 %
CHINA 19.5 %
SOUTH KOREA 11.2 %
RUSSIA 10.3 %
HONG KONG 6.7 %
INDIA 5.7 %
SOUTH AFRICA 4.9 %
BRAZIL 4.4 %
MALAYSIA 2.9 %
MEXICO 2.8 %

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.
12.2% 7.8% -- -- 8.2%

Market Correlations
versus... Beta R-squared
S&P500 0.81 53%
MSCI EAFE 1.03 71%
MSCI Emg. Mkts. 0.93 93%

Technical Indicators
Recent close $31.30
30d moving avg. $31.44
Annualized volatility 13.4%
Short interest (ETF) 0.0%
Relative strength (RSI) 50

Liquidity measures
Avg. volume (thou.) 7
Turnover 0.4%
Bid/Ask (% of price) 0.34%
ADV underlying (mns) $18,070

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: DVEM Expense: 32 bp ALTAR Score™: 11.2%


ALTERNATIVE ETFs BASED ON OVERLAP WITH DVEM
Ticker Fund
Name
Overlap1
vs DVEM
(%)
Expense
ratio
(bp)
Savings
vs DVEM
(bp)
ALTAR
Score™
(%)
ALTAR
vs DVEM
(%)
JHEM John Hancock Multifactor Emerging Markets 54.3 55 -23 8.7 -2.5
DEM WisdomTree Emerg Mkts High Yield Equity 50.2 63 -31 12.3 +1.0
EEMA iShares MSCI Emg Mkts Asia 50.2 50 -18 8.6 -2.6
EEM iShares MSCI Emerging Markets 48.0 67 -35 8.4 -2.8
DBEM Xtrackers MSCI Emg. Mkts. Hedged 47.1 65 -33 8.3 -2.9
IEMG iShares Core MSCI Emerging Markets 46.0 14 18 8.6 -2.7
AAXJ iShares MSCI Asia ex-Japan 44.9 67 -35 8.1 -3.1
FLAX Franklin FTSE Asia Ex Japan 44.8 19 13 8.6 -2.7
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free 44.7 30 2 8.4 -2.9
PXH Invesco FTSE-RAFI Emerging Markets 44.4 50 -18 12.2 +1.0
QEMM SPDR MSCI Emerging Markets Quality Mix 43.7 30 2 9.0 -2.2
SCHE Schwab Emerging Markets Equity 43.5 13 19 8.6 -2.7
AXJL WisdomTree Asia Pacific Ex-Japan 43.2 48 -16 9.2 -2.1
REEM Invesco Emerging Markets Revenue ETF 42.6 46 -14 11.8 +0.5
XSOE WisdomTree Emg Mkt ex-SOE 41.5 32 0 6.8 -4.5
PBEE Invesco PureBeta FTSE Emerging Markets 41.4 14 18 9.2 -2.1
EMXC iShares MSCI Emerging Markets ex China 41.0 49 -17 8.6 -2.7
FNDE Schwab Fundamental Emg Mkt Large Cap 40.2 39 -7 11.0 -0.2
GEM Goldman Sachs ActiveBeta Emg Mkts Equity 40.1 45 -13 9.0 -2.3
SPEM SPDR Portfolio Emerging Markets 39.3 11 21 8.4 -2.9

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

  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 Emerging Markets Dividend
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 12.6 %
Divided by: Fwd. P/BV 1.1 x
Less: Expense ratio 32 bp
Equals: ALTAR Score 11.2 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.49 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.
 

 

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.