WisdomTree Germany Hedged Equity
ALTAR
Score™
9.5% info Recommen-
dation
SPECULATIVE
2019E    2020E
P/E
ratio
13.2x P/Sales
ratio
0.7x
P/BV
ratio
1.4x Div.
yield
3.7%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
WisdomTree Germany Hedged Equity Fund is an exchange-traded fund incorporated in the USA. The Fund seeks investment results that correspond to the WisdomTree Germany Hedged Equity Index. The Fund invests in companies that are incorporated in Germany while at the same time neutralizing exposure to fluctuations of the Euro movements relative to the U.S. dollar.

FUND BASICS
Category International Equities
Fund Sponsor WisdomTree Asset Management In
Website www.wisdomtree.com
Inception date Oct 17, 2013
Assets (mns) $45
Currency USD
Expense ratio 48 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 81
Wgt avg mkt cap (mns) $60,199
Large cap (>$10bn) 87.4%
Mid cap ($2-10bn) 11.5%
Small cap (<$2bn) 1.1%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
ALLIANZ SE-REG 8.6 %
DAIMLER AG-REGISTERED SHARES 7.9 %
SIEMENS AG-REG 7.6 %
BAYER AG 7.4 %
BASF SE 7.3 %
DEUTSCHE TELEKOM AG 7.0 %
BAYERISCHE MOTOREN WERKE AG 5.4 %
SAP AG 4.2 %
DEUTSCHE POST AG-REG 3.7 %
VOLKSWAGEN AG 3.6 %
Total 62.8 %

TOP COUNTRY EXPOSURE
GERMANY 96.9 %










HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru October 31)
Year-to-date 1 year 5 years 10 years Since Incep.
21.4% 13.0% 8.2% -- 7.6%

Market Correlations
versus... Beta R-squared
S&P500 0.76 49%
MSCI EAFE 0.98 69%
MSCI Emg. Mkts. 0.58 40%

Technical Indicators
Recent close $31.80
30d moving avg. $31.35
Annualized volatility 13.0%
Short interest (ETF) 0.0%
Relative strength (RSI) 79

Liquidity measures
Avg. volume (thou.) 5
Turnover 0.4%
Bid/Ask (% of price) 0.48%
ADV underlying (mns) $3,530

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: DXGE Expense: 48 bp ALTAR Score™: 9.5%


ALTERNATIVE ETFs BASED ON OVERLAP WITH DXGE
Ticker Fund
Name
Overlap1
vs DXGE
(%)
Expense
ratio
(bp)
Savings
vs DXGE
(bp)
ALTAR
Score™
(%)
ALTAR
vs DXGE
(%)
EWG iShares MSCI Germany 66.7 47 1 7.8 -1.7
FLGR Franklin FTSE Germany 66.3 9 39 8.1 -1.4
QDEU SPDR MSCI Germany Quality Mix 66.0 14 34 8.4 -1.2
DBGR Xtrackers MSCI Germany Hedged 65.4 45 3 7.8 -1.8
DAX Global X DAX Germany 62.6 20 28 8.8 -0.8
HEDJ Wisdomtree International Hedged Equity 26.2 58 -10 7.7 -1.8
FEZ SPDR DJ Euro Stoxx 50 26.1 29 19 7.0 -2.6
EZU iShares MSCI Euro Monetary Union 22.9 47 1 6.8 -2.7
EURZ Xtrackers Eurozone Equity 22.9 9 39 7.1 -2.5
DBEZ Xtrackers MSCI EMU Hedged 20.7 45 3 6.4 -3.1
FGM First Trust Germany 17.2 80 -32 9.1 -0.5
FTAG First Trust Indxx Global Agriculture 16.0 70 -22 8.6 -1.0
FEUZ First Trust Eurozone AlphaDex 14.5 80 -32 7.1 -2.4
HDEF Xtrackers MSCI EAFE High Div Yld Hedged 14.2 20 28 8.6 -0.9
RIDV Invesco International Ultra Dividend Revenue ETF 13.8 42 6 9.1 -0.4
CARZ First Trust NASDAQ Global Auto 12.3 70 -22 15.2 +5.7
HFXE IQ 50 PERCENT HEDGED FTSE EUROPE 11.8 30 18 6.7 -2.8
FLEE Franklin FTSE Europe 11.7 9 39 6.9 -2.6
IEV iShares S&P Europe 350 11.7 59 -11 6.4 -3.1
DBEU Xtrackers Europe Hedged 11.6 45 3 6.5 -3.0

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 Germany Hedged Equity
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 13.5 %
Divided by: Fwd. P/BV 1.3 x
Less: Expense ratio 48 bp
Equals: ALTAR Score 9.5 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.63 CATEGORY
AVERAGE
1.63
 
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.