ETF Research Center

WisdomTree Europe Dividend Growth Fund is an exchange-traded fund incorporated in the USA. The Fund seeks to provide exposure to European listed, dividend-paying companies with growth characteristics.

FUND BASICS
Category	International Equities
Fund Sponsor	WisdomTree Asset Management
Website	www.wisdomtree.com
Inception date	May 07, 2014
Assets (mns)	$42
Currency	USD
Expense ratio	58 bp
Distributions	Quarterly

FUND STRUCTURE
Regulation	Open-End Investment Company
Custodian	Bank of New York Mellon
Weighting	Dividend
Index replication	Optimized
Uses derivatives	No
Options available	No

SECTOR BREAKDOWN

CONSTITUENT BREAKDOWN
No. of constituents	213
Wgt avg mkt cap (mns)	$83,638
Large cap (>$10bn)	82.6%
Mid cap ($2-10bn)	15.6%
Small cap (<$2bn)	1.8%
Developed mkts	99.9%
Emerging mkts	0.2%

TOP TEN HOLDINGS
Total	34.0 %
ROCHE HOLDING AG-GENUSSCHEIN	6.1 %
BRITISH AMERICAN TOBACCO PLC	4.8 %
LVMH MOET HENNESSY LOUIS VUI	3.9 %
INDITEX	3.6 %
RIO TINTO PLC	3.0 %
NOVO NORDISK A/S-B	3.0 %
UNILEVER NV	2.9 %
L'OREAL	2.4 %
SAP AG	2.3 %
BHP BILLITON PLC	1.9 %

TOP COUNTRY EXPOSURE
	BRITAIN	22.9 %
	FRANCE	15.7 %
	SWITZERLAND	15.4 %
	GERMANY	9.4 %
	NETHERLANDS	7.8 %
	DENMARK	6.1 %
	SPAIN	4.8 %
	SWEDEN	4.0 %
	FINLAND	3.8 %
	NORWAY	2.6 %

HISTORICAL PERFORMANCE info

	Custom date range	Compare to
	thru

Standardized Annual Returns (thru January 31)
Year-to-date	1 year	5 years	10 years	Since Incep.
-2.1%	17.5%	6.1%	--	3.4%

Market Correlations
versus...	Beta	R-squared
S&P500	0.77	58%
MSCI EAFE	1.03	86%
MSCI Emg. Mkts.	0.69	67%

Technical Indicators
Recent close	$26.48
30d moving avg.	$27.95
Annualized volatility	12.3%
Short interest (ETF)	0.2%
Relative strength (RSI)	48

Liquidity measures
Avg. volume (thou.)	5
Turnover	0.3%
Bid/Ask (% of price)	0.17%
ADV underlying (mns)	$7,136

Distributions

FINDING ALTERNATIVE FUNDS

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

Benchmark ticker:

EUDG

Expense:

58 bp

ALTAR Score™:

6.3%

ALTERNATIVE ETFs BASED ON OVERLAP WITH EUDG
Ticker	Fund Name	Overlap¹ vs EUDG (%)	Expense ratio (bp)	Savings vs EUDG (bp)	ALTAR Score™ (%)	ALTAR vs EUDG (%)
IQDG	WisdomTree International Quality Dividend Growth Fund	56.8	38	20	6.4	+0.1
IHDG	WisdomTree International Hedged Quality Dividend Growth Fund	56.4	58	0	6.1	-0.3
IDHQ	Invesco S&P International Developed High Quality ETF	34.0	29	29	5.3	-1.0
EFG	iShares MSCI EAFE Growth ETF	33.6	40	18	4.7	-1.6
IQLT	iShares Edge MSCI Intl Quality Factor ETF	32.1	30	28	6.2	-0.1
IEV	iShares Europe ETF	31.4	59	-1	6.5	+0.2
HFXE	IQ 50 PERCENT HEDGED FTSE EUROPE ETF	30.3	30	28	6.7	+0.4
FLEE	Franklin FTSE Europe ETF	30.2	9	49	7.0	+0.7
HEDJ	WisdomTree Europe Hedged Equity Fund	30.2	58	0	7.7	+1.4
DBEU	Xtrackers MSCI Europe Hedged Equity ETF	30.1	45	13	6.5	+0.1
GSEU	Goldman Sachs ActiveBeta Europe Equity ETF	29.9	25	33	6.6	+0.3
OEUR	O'shares FTSE Europe Quality Dividend ETF	29.7	48	10	6.6	+0.2
FLEH	Franklin FTSE Europe Hedged ETF	29.5	9	49	6.9	+0.5
IEUR	iShares Core MSCI Europe ETF	29.4	9	49	7.0	+0.7
BBEU	JPMorgan BetaBuilders Europe ETF	28.8	9	49	7.0	+0.7
FEU	SPDR Portfolio Europe ETF	28.7	9	49	7.0	+0.7
VGK	Vanguard FTSE Europe ETF	28.4	8	50	7.1	+0.7
EURZ	Xtrackers Eurozone Equity ETF	26.9	9	49	7.2	+0.8
EZU	iShares MSCI Eurozone ETF	26.8	49	9	6.8	+0.5
DBEZ	Xtrackers MSCI Eurozone Hedged Equity ETF	26.2	45	13	6.5	+0.2

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	**	**	**	**	**	**	**
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 Europe Quality Dividend Growth Fund
Relative to:	S&P500	MSCI EAFE	MSCI Emg. Mkts.	Other ETF:

UNDERWEIGHT

Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.

ALTAR Score™

Calculation of ALTAR Score™
Avg. Return on Equity	20.4	%
Divided by: Fwd. P/BV	3.0	x
Less: Expense ratio	58	bp
Equals: ALTAR Score	6.3	%

More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS

COMPOSITE RATING	1.68	CATEGORY AVERAGE	1.64

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.