WisdomTree Emerging Markets Multifactor Fund
ALTAR
Score™
10.0% info Recommen-
dation
OVERWEIGHT
2019E    2020E
P/E
ratio
10.6x P/Sales
ratio
0.9x
P/BV
ratio
1.3x Div.
yield
4.0%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The WisdomTree Emerging Markets Multifactor Fund is an actively managed fund that invests in emerging-market firms that score highly on multiple factors. It may hedge foreign currency exposure. The fund seeks capital appreciation.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor WisdomTree
Website www.wisdomtree.com
Inception date Aug 10, 2018
Assets (mns) $22
Currency USD
Expense ratio 48 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 223
Wgt avg mkt cap (mns) $17,554
Large cap (>$10bn) 35.2%
Mid cap ($2-10bn) 60.4%
Small cap (<$2bn) 4.1%
Developed mkts 8.1%
Emerging mkts 91.3%

TOP TEN HOLDINGS
CHINA COAL ENERGY CO - H 1.2 %
CHINA SHENHUA ENERGY CO - H 1.1 %
CHINA CONSTRUCTION BANK-H 1.1 %
OIL COMPANY LUKOIL PJSC SPONSORED 1.0 %
BANK OF COMMUNICATIONS CO-H 1.0 %
CHINA MOBILE LIMITED 1.0 %
ROSNEFT OJSC-REG S GDR 1.0 %
CHONGQING RURAL COMMERCIAL-H 0.9 %
CHINA TELECOM CORP. LTD. CLASS H 0.9 %
LI NING CO LTD 0.9 %
Total 10.1 %

TOP COUNTRY EXPOSURE
CHINA 20.2 %
TAIWAN 12.9 %
INDIA 9.7 %
BRAZIL 9.4 %
THAILAND 7.8 %
HONG KONG 7.2 %
SOUTH KOREA 6.5 %
RUSSIA 5.9 %
MEXICO 4.1 %
MALAYSIA 3.6 %

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.
-1.9% -5.1% -- -- -7.9%

Market Correlations
versus... Beta R-squared
S&P500 0.53 65%
MSCI EAFE 0.68 77%
MSCI Emg. Mkts. 0.63 89%

Technical Indicators
Recent close $21.87
30d moving avg. $22.12
Annualized volatility 11.4%
Short interest (ETF) 0.0%
Relative strength (RSI) 46

Liquidity measures
Avg. volume (thou.) 4
Turnover 0.4%
Bid/Ask (% of price) 0.33%
ADV underlying (mns) $4,568

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: EMMF Expense: 48 bp ALTAR Score™: 10.0%


ALTERNATIVE ETFs BASED ON OVERLAP WITH EMMF
Ticker Fund
Name
Overlap1
vs EMMF
(%)
Expense
ratio
(bp)
Savings
vs EMMF
(bp)
ALTAR
Score™
(%)
ALTAR
vs EMMF
(%)
DGRE WisdomTree Emg Mkt Dividend Growth 29.7 32 16 9.1 -0.9
EMCG WisdomTree Emg Mkts Consumer Growth 29.2 32 16 6.7 -3.3
ROAM Hartford Multifactor Emerging Markets 27.9 44 4 11.2 +1.2
GEM Goldman Sachs ActiveBeta Emg Mkts Equity 25.2 45 3 9.1 -1.0
EELV Invesco S&P Emg Mkts Low Volatility 24.9 29 19 10.2 +0.2
EEMV iShares MSCI Emerg Mkt Minimum Volatility 24.4 25 23 9.0 -1.1
QLVE FlexShares Emerging Markets Quality Low Volatility 23.2 40 8 8.4 -1.6
UEVM USAA MSCI Emerging Markets Value Momentum Blend Index 23.0 45 3 13.4 +3.4
QEMM SPDR MSCI Emerging Markets Quality Mix 22.7 30 18 9.1 -1.0
DVEM WisdomTree Emerging Markets Dividend 22.4 32 16 11.4 +1.3
JHEM John Hancock Multifactor Emerging Markets 22.1 55 -7 8.8 -1.2
CEZ Victory CEMP Emerging Market Volatility Weighted 22.0 50 -2 9.2 -0.8
EMGF iShares Edge MSCI Multifactor Emerging Markets 21.9 45 3 10.0 -0.0
JPEM JPMorgan Diversified Rtn Emg Mkt Equity 21.7 45 3 8.9 -1.2
RNEM First Trust Emerging Markets Equity Select 21.1 75 -27 9.6 -0.4
FEM First Trust Emerging Markets AlphaDEX 21.0 80 -32 10.8 +0.8
MXDE Nationwide Maximum Diversification Emg Mkts Core 20.3 64 -16 5.2 -4.8
FDEM Fidelity Targeted Emerging Markets Factor 18.4 45 3 8.9 -1.2
PXH Invesco FTSE-RAFI Emerging Markets 17.8 50 -2 12.3 +2.3
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free 17.8 30 18 8.5 -1.5

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

  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 Multifactor 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 12.4 %
Divided by: Fwd. P/BV 1.2 x
Less: Expense ratio 48 bp
Equals: ALTAR Score 10.0 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.53 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.