WisdomTree Europe Hedged Equity Fund
ALTAR
Score™
6.3% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
20.3x P/Sales
ratio
1.2x
P/BV
ratio
2.1x Div.
yield
2.6%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
WisdomTree Europe Hedged Equity Fund is an exchange-traded fund incorporated in the USA. The Fund seeks investment results that correspond to the performance of the WisdomTree Europe Hedged Equity Index. The Fund seeks to provide exposure to Eurozone stocks while neutralizing currency risk relative to the US Dollar.

FUND BASICS
Category International Equities
Fund Sponsor WisdomTree Investments Inc
Website www.wisdomtree.com
Inception date Dec 31, 2009
Assets (mns) $1,906
Currency USD
Expense ratio 58 bp
Distributions Quarterly

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 104
Wgt avg mkt cap (mns) $64,377
Large cap (>$10bn) 79.1%
Mid cap ($2-10bn) 11.6%
Small cap (<$2bn) 1.6%
Developed mkts 92.8%
Emerging mkts 0.0%

TOP TEN HOLDINGS
LINDE PLC 6.8 %
ASML HOLDING NV 4.5 %
KONE OYJ-B 4.0 %
ROYAL AHOLD DELHAIZE N.V. 3.9 %
L'OREAL 3.8 %
BASF SE 3.7 %
SANOFI-AVENTIS 3.7 %
LVMH MOET HENNESSY LOUIS VUI 3.4 %
DEUTSCHE TELEKOM AG 3.3 %
BAYER AG 3.2 %
Total 40.1 %

TOP COUNTRY EXPOSURE
GERMANY 26.7 %
FRANCE 25.1 %
NETHERLANDS 15.4 %
FINLAND 7.1 %
UNITED KINGDOM 6.8 %
SPAIN 4.4 %
BELGIUM 3.4 %
IRELAND 3.4 %
ITALY 1.2 %
SWITZERLAND 0.5 %

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.
-4.4% -3.1% 4.9% 7.5% 6.8%

Market Correlations
versus... Beta R-squared
S&P500 0.90 79%
MSCI EAFE 0.97 89%
MSCI Emg. Mkts. 0.74 66%

Technical Indicators
Recent close $65.85
30d moving avg. $63.60
Annualized volatility 19.0%
Short interest (ETF) 3.3%
Relative strength (RSI) 57

Liquidity measures
Avg. volume (thou.) 330
Turnover 1.1%
Bid/Ask (% of price) 0.02%
ADV underlying (mns) $7,177

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 98 potential alternatives to the WisdomTree Europe Hedged Equity Fund ETF based on the alternatives' overlap in portfolio holdings with HEDJ. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: HEDJ Expense: 58 bp ALTAR Score™: 6.3%


ALTERNATIVE ETFs BASED ON OVERLAP WITH HEDJ
Ticker Fund
Name
Overlap1
vs HEDJ
(%)
Expense
ratio
(bp)
Savings
vs HEDJ
(bp)
ALTAR
Score™
(%)
ALTAR
vs HEDJ
(%)
FEZ SPDR EURO STOXX 50 ETF 47.7 29 29 6.2 -0.1
EZU iShares MSCI Eurozone ETF 40.4 49 9 6.1 -0.2
EURZ Xtrackers Eurozone Equity ETF 38.9 9 49 6.5 +0.2
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 37.9 45 13 6.3 -0.0
EUDG WisdomTree Europe Quality Dividend Growth Fund 35.7 58 0 6.7 +0.4
DXGE WisdomTree Germany Hedged Equity Fund 26.6 48 10 8.3 +2.0
DBGR Xtrackers MSCI Germany Hedged Equity ETF 25.9 45 13 6.8 +0.5
EWG iShares MSCI Germany ETF 25.9 49 9 7.0 +0.6
QDEU SPDR MSCI Germany Quality Mix ETF 25.5 14 44 7.2 +0.9
FLGR Franklin FTSE Germany ETF 25.5 9 49 7.3 +1.0
FLFR Franklin FTSE France ETF 24.5 9 49 6.1 -0.2
EWQ iShares MSCI France ETF 24.1 50 8 5.6 -0.7
DAX Global X DAX Germany ETF 22.3 21 37 7.3 +0.9
IEV iShares Europe ETF 22.3 59 -1 6.4 +0.1
DBEU Xtrackers MSCI Europe Hedged Equity ETF 21.9 45 13 6.2 -0.1
EWN iShares MSCI Netherlands ETF 21.9 50 8 4.6 -1.8
IHDG WisdomTree International Hedged Quality Dividend Growth Fund 21.5 58 0 6.2 -0.1
BBEU JPMorgan BetaBuilders Europe ETF 21.3 9 49 6.9 +0.6
IQDG WisdomTree International Quality Dividend Growth Fund 21.2 42 16 6.4 +0.0
FLEH Franklin FTSE Europe Hedged ETF 21.1 9 49 6.8 +0.4
FLEE Franklin FTSE Europe ETF 20.9 9 49 6.6 +0.3
FEU SPDR Portfolio Europe ETF 20.7 9 49 7.0 +0.7
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 20.4 25 33 6.1 -0.2
IEUR iShares Core MSCI Europe ETF 20.1 9 49 6.8 +0.4
VGK Vanguard FTSE Europe ETF 19.0 8 50 6.9 +0.6
DOL WisdomTree International LargeCap Dividend Fund 17.9 48 10 7.4 +1.1
OEUR O'shares FTSE Europe Quality Dividend ETF 16.8 48 10 6.5 +0.2
IGRO iShares International Dividend Growth ETF 16.6 22 36 7.8 +1.5
IMTM iShares Edge MSCI Intl Momentum Factor ETF 16.2 30 28 4.3 -2.0
EFG iShares MSCI EAFE Growth ETF 16.2 40 18 4.3 -2.0
RFEU First Trust Riverfront Dynamic Europe ETF 15.5 83 -25 5.8 -0.5
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 14.9 35 23 7.6 +1.3
DWM WisdomTree International Equity Fund 14.8 48 10 7.4 +1.1
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 14.8 20 38 6.6 +0.3
IQSI IQ Candriam ESG International Equity ETF 14.5 15 43 6.6 +0.3
VIGI Vanguard International Dividend Appreciation ETF 14.2 20 38 5.3 -1.1
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 14.1 14 44 6.3 -0.0
IDY Pacific Global International Equity Income ETF 14.0 39 19 7.6 +1.3
CEFA Global X S&P Catholic Values Developed ex-U.S. ETF 13.9 35 23 6.3 -0.0
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 13.7 35 23 6.3 +0.0
EFA iShares MSCI EAFE ETF 13.7 32 26 6.5 +0.2
FEUZ First Trust Eurozone AlphaDEX ETF 13.6 80 -22 7.4 +1.1
DWCR Arrow DWA Country Rotation ETF 13.3 95 -37 5.6 -0.8
GSID Goldman Sachs MarketBeta International Equity ETF 13.1 20 38 6.5 +0.2
IDHQ Invesco S&P International Developed Quality ETF 13.0 29 29 4.8 -1.5
ESGD iShares MSCI EAFE ESG Optimized ETF 12.9 20 38 6.3 +0.0
NUDM Nuveen ESG International Developed Markets Equity ETF 12.7 40 18 6.2 -0.1
IQIN IQ 500 International ETF 12.6 25 33 7.9 +1.6
JHMD John Hancock Multifactor Developed International ETF 12.5 39 19 6.8 +0.4
DMXF iShares ESG Advanced MSCI EAFE ETF 12.4 12 46 6.4 +0.1
HFXI IQ 50 Percent Hedged FTSE International ETF 12.3 20 38 6.8 +0.5
IEFA iShares Core MSCI EAFE ETF 12.2 7 51 6.7 +0.4
QEFA SPDR MSCI EAFE Quality Mix ETF 12.2 30 28 6.3 +0.0
RESD WisdomTree International ESG Fund 12.1 30 28 6.4 +0.1
PBDM Invesco PureBeta FTSE Developed ex-North America ETF 12.0 7 51 7.0 +0.6
BKIE BNY Mellon International Equity ETF 11.8 4 54 6.8 +0.5
DTH WisdomTree DEFA Equity Income Fund 11.8 58 0 9.0 +2.7
GSIE Goldman Sachs ActiveBeta International Equity ETF 11.7 25 33 6.2 -0.1
PDEV Principal International Multi-Factor Core Index ETF 11.5 25 33 7.3 +1.0
HDMV First Trust Horizon Managed Volatility Developed Intl ETF 11.5 80 -22 6.1 -0.2
IQLT iShares Edge MSCI Intl Quality Factor ETF 11.2 30 28 5.7 -0.7
IDMO Invesco S&P International Developed Momentum ETF 11.2 26 32 3.9 -2.4
SCHF Schwab International Equity ETF 11.2 6 52 6.8 +0.5
DFAI Dimensional International Core Equity Market ETF 10.8 18 40 6.7 +0.4
EFV iShares MSCI EAFE Value ETF 10.7 39 19 8.7 +2.4
IDEV iShares Core MSCI International Developed Markets ETF 10.6 5 53 6.6 +0.3
MXI iShares Global Materials ETF 10.6 45 13 5.4 -0.9
IDRV iShares Self-driving EV & Tech ETF 10.6 47 11 5.6 -0.7
JIG JPMorgan International Growth ETF 10.5 55 3 2.7 -3.6
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 10.3 45 13 7.9 +1.6
SPDW SPDR Portfolio Developed World ex-US ETF 10.3 4 54 6.5 +0.2
ISDX Invesco Strategic Developed ex-US ETF 10.0 23 35 6.7 +0.4
RBIN Nationwide Risk-Based International Equity ETF 9.9 42 16 6.3 -0.1
IDOG ALPS International Sector Dividend Dogs ETF 9.9 50 8 9.9 +3.5
VEA Vanguard FTSE Developed Markets ETF 9.7 5 53 6.8 +0.5
RNDM Developed International Equity Select ETF 9.7 65 -7 5.9 -0.4
FNDF Schwab Fundamental International Large Co. Index ETF 9.5 25 33 8.0 +1.7
LVHI Legg Mason International Low Volatility High Dividend ETF 9.5 40 18 8.9 +2.6
IVLU iShares Edge MSCI Intl Value Factor ETF 9.4 30 28 10.5 +4.2
DOO WisdomTree International Dividend ex-Financials Fund 9.4 58 0 8.1 +1.8
CIL VictoryShares International Volatility Weighted Index ETF 9.3 45 13 6.5 +0.2
CWI SPDR MSCI ACWI ex-US ETF 9.3 30 28 6.7 +0.4
CIZ VictoryShares Developed Enhanced Volatility Weighted Index E 9.3 45 13 6.5 +0.2
EFAV iShares Edge MSCI Min Vol EAFE ETF 9.2 20 38 5.2 -1.1
KXI iShares Global Consumer Staples ETF 9.0 46 12 5.3 -1.0
TTAI TrimTabs All Cap International Free-Cash-Flow ETF 8.9 61 -3 4.9 -1.5
IQDY FlexShares International Quality Dividend Dynamic Index Fund 8.9 47 11 8.7 +2.4
FIVA Fidelity International Value Factor ETF 8.9 39 19 9.1 +2.8
EUSC WisdomTree Europe Hedged SmallCap Equity Fund 8.8 58 0 7.9 +1.6
QLVD FlexShares Developed Markets ex-US Quality Low Volatility Id 8.8 32 26 5.8 -0.5
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 8.7 40 18 6.5 +0.2
ACWX iShares MSCI ACWI ex U.S. ETF 8.7 32 26 6.8 +0.5
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 8.7 16 42 6.4 +0.1
FGM First Trust Germany AlphaDEX Fund 8.7 80 -22 5.6 -0.8
RXI iShares Global Consumer Discretionary ETF 8.6 46 12 4.6 -1.7
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 8.6 39 19 6.0 -0.3
QINT American Century Quality Diversified International ETF 8.4 39 19 6.0 -0.4
HDEF Xtrackers MSCI EAFE High Dividend Yield Hedged Equity ETF 8.2 20 38 8.6 +2.3

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 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
  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 Hedged Equity 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 13.7 %
Divided by: Fwd. P/BV 2.0 x
Less: Expense ratio 58 bp
Equals: ALTAR Score 6.3 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.55 CATEGORY
AVERAGE
1.54
 
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.