WisdomTree Europe Hedged Equity Fund
ALTAR
Score™
6.6% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
24.0x P/Sales
ratio
1.1x
P/BV
ratio
1.9x Div.
yield
2.5%


  • 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) $1,873
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 102
Wgt avg mkt cap (mns) $83,099
Large cap (>$10bn) 89.3%
Mid cap ($2-10bn) 10.1%
Small cap (<$2bn) 0.3%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
SANOFI-AVENTIS 6.2 %
UNILEVER NV 5.6 %
LVMH MOET HENNESSY LOUIS VUI 5.3 %
SIEMENS AG-REG 4.7 %
DAIMLER AG-REGISTERED SHARES 4.3 %
ANHEUSER-BUSCH INBEV SA/NV 4.3 %
ASML HOLDING NV 3.6 %
BAYER AG 3.6 %
L'OREAL 3.5 %
BASF SE 3.4 %
Total 44.5 %

TOP COUNTRY EXPOSURE
FRANCE 31.0 %
GERMANY 30.5 %
NETHERLANDS 18.3 %
BELGIUM 5.9 %
FINLAND 3.9 %
SPAIN 2.0 %
BRITAIN 2.0 %
IRELAND 1.9 %
ITALY 0.9 %
SWITZERLAND 0.8 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru August 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-11.3% -3.5% 5.2% 7.2% 6.2%

Market Correlations
versus... Beta R-squared
S&P500 0.87 76%
MSCI EAFE 1.02 87%
MSCI Emg. Mkts. 0.71 66%

Technical Indicators
Recent close $64.15
30d moving avg. $62.50
Annualized volatility 17.6%
Short interest (ETF) 0.8%
Relative strength (RSI) 59

Liquidity measures
Avg. volume (thou.) 298
Turnover 1.0%
Bid/Ask (% of price) 0.02%
ADV underlying (mns) $4,960

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 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™: 6.6%


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 44.4 29 29 7.0 +0.4
EZU iShares MSCI Eurozone ETF 43.3 49 9 6.4 -0.2
EURZ Xtrackers Eurozone Equity ETF 41.9 9 49 6.9 +0.3
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 39.7 45 13 6.5 -0.1
EUDG WisdomTree Europe Quality Dividend Growth Fund 31.6 58 0 5.8 -0.8
DXGE WisdomTree Germany Hedged Equity Fund 30.5 48 10 8.2 +1.7
FLFR Franklin FTSE France ETF 30.4 9 49 6.5 -0.0
EWQ iShares MSCI France ETF 30.1 50 8 6.1 -0.5
EWG iShares MSCI Germany ETF 27.4 49 9 6.6 0.0
DBGR Xtrackers MSCI Germany Hedged Equity ETF 27.2 45 13 6.6 +0.1
QDEU SPDR MSCI Germany Quality Mix ETF 26.8 14 44 7.1 +0.6
FLGR Franklin FTSE Germany ETF 26.6 9 49 6.9 +0.3
DAX Global X DAX Germany ETF 24.4 21 37 7.1 +0.6
IEV iShares Europe ETF 24.0 59 -1 6.7 +0.1
HFXE IQ 50 PERCENT HEDGED FTSE EUROPE ETF 22.9 30 28 0.0 -6.6
DBEU Xtrackers MSCI Europe Hedged Equity ETF 22.6 45 13 6.5 -0.1
FLEE Franklin FTSE Europe ETF 22.3 9 49 6.8 +0.3
FLEH Franklin FTSE Europe Hedged ETF 21.8 9 49 7.0 +0.4
IQDG WisdomTree International Quality Dividend Growth Fund 21.5 42 16 6.1 -0.4
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 21.4 25 33 6.3 -0.3
IHDG WisdomTree International Hedged Quality Dividend Growth Fund 21.4 58 0 6.0 -0.6
BBEU JPMorgan BetaBuilders Europe ETF 21.1 9 49 7.2 +0.6
IEUR iShares Core MSCI Europe ETF 21.0 9 49 7.1 +0.5
FEU SPDR Portfolio Europe ETF 20.5 9 49 7.1 +0.5
VGK Vanguard FTSE Europe ETF 19.9 8 50 7.2 +0.7
EWN iShares MSCI Netherlands ETF 18.1 50 8 5.1 -1.5
FEUZ First Trust Eurozone AlphaDEX ETF 17.7 80 -22 7.1 +0.5
DOL WisdomTree International LargeCap Dividend Fund 17.4 48 10 8.6 +2.0
EFG iShares MSCI EAFE Growth ETF 17.3 40 18 4.4 -2.2
IGRO iShares International Dividend Growth ETF 16.7 22 36 7.9 +1.3
IMTM iShares Edge MSCI Intl Momentum Factor ETF 16.7 30 28 4.3 -2.3
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 15.8 20 38 6.9 +0.3
OEUR O'shares FTSE Europe Quality Dividend ETF 15.3 48 10 6.5 -0.0
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 14.7 14 44 6.8 +0.2
EFA iShares MSCI EAFE ETF 14.6 32 26 6.9 +0.3
VIGI Vanguard International Dividend Appreciation ETF 14.5 20 38 5.5 -1.1
RFEU First Trust Riverfront Dynamic Europe ETF 14.4 83 -25 5.7 -0.9
IQIN IQ 500 International ETF 14.3 25 33 8.5 +1.9
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 14.3 35 23 6.7 +0.2
NUDM Nuveen ESG International Developed Markets Equity ETF 14.2 40 18 6.6 +0.0
DWM WisdomTree International Equity Fund 14.2 48 10 8.2 +1.6
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 14.2 35 23 8.5 +1.9
IQSI IQ Candriam ESG International Equity ETF 14.0 15 43 7.2 +0.6
CEFA Global X S&P Catholic Values Developed ex-U.S. ETF 13.8 35 23 6.8 +0.2
GSID Goldman Sachs MarketBeta International Equity ETF 13.7 20 38 7.1 +0.6
ESGD iShares MSCI EAFE ESG Optimized ETF 13.7 20 38 6.8 +0.2
IDRV iShares Self-driving EV & Tech ETF 13.6 47 11 6.8 +0.2
SCID Global X Scientific Beta Europe ETF 13.6 39 19 6.3 -0.3
HFXI IQ 50 Percent Hedged FTSE International ETF 13.5 20 38 7.3 +0.7
JHMD John Hancock Multifactor Developed International ETF 13.4 39 19 7.2 +0.7
IDY Pacific Global International Equity Income ETF 13.3 39 19 7.9 +1.3
DOO WisdomTree International Dividend ex-Financials Fund 13.2 58 0 8.7 +2.2
IDMO Invesco S&P International Developed Momentum ETF 13.2 26 32 4.5 -2.1
PBDM Invesco PureBeta FTSE Developed ex-North America ETF 12.9 7 51 7.4 +0.8
DHDG WisdomTree Dynamic Currency Hedged Intl Quality Div Growth 12.9 30 28 0.0 -6.6
IEFA iShares Core MSCI EAFE ETF 12.9 7 51 7.1 +0.6
DWCR Arrow DWA Country Rotation ETF 12.8 95 -37 13.9 +7.3
IDHQ Invesco S&P International Developed Quality ETF 12.7 29 29 4.9 -1.6
BKIE BNY Mellon International Equity ETF 12.5 4 54 7.3 +0.7
DTH WisdomTree DEFA Equity Income Fund 12.4 58 0 9.7 +3.2
GSIE Goldman Sachs ActiveBeta International Equity ETF 12.3 25 33 6.6 -0.0
QEFA SPDR MSCI EAFE Quality Mix ETF 12.2 30 28 6.7 +0.2
FIVA Fidelity International Value Factor ETF 12.0 39 19 9.6 +3.1
SCHF Schwab International Equity ETF 12.0 6 52 7.2 +0.6
EFV iShares MSCI EAFE Value ETF 11.9 39 19 9.5 +2.9
ISDX Invesco Strategic Developed ex-US ETF 11.8 23 35 7.2 +0.6
HDEF Xtrackers MSCI EAFE High Dividend Yield Hedged Equity ETF 11.7 20 38 9.6 +3.0
IVLU iShares Edge MSCI Intl Value Factor ETF 11.7 30 28 11.3 +4.7
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 11.6 45 13 8.7 +2.1
IQLT iShares Edge MSCI Intl Quality Factor ETF 11.1 30 28 5.9 -0.7
SPDW SPDR Portfolio Developed World ex-US ETF 11.0 4 54 7.0 +0.4
PDEV Principal International Multi-Factor Core Index ETF 11.0 25 33 7.7 +1.1
IDEV iShares Core MSCI International Developed Markets ETF 11.0 5 53 7.1 +0.5
FEP First Trust Europe AlphaDEX Fund 10.7 80 -22 7.1 +0.6
KXI iShares Global Consumer Staples ETF 10.7 46 12 5.2 -1.4
FNDF Schwab Fundamental International Large Co. Index ETF 10.7 25 33 8.6 +2.1
MXI iShares Global Materials ETF 10.4 45 13 5.5 -1.1
RNDM Developed International Equity Select ETF 10.4 65 -7 6.2 -0.4
VEA Vanguard FTSE Developed Markets ETF 10.4 5 53 7.3 +0.7
RFDI First Trust Riverfront Dynamic Developed International ETF 10.3 83 -25 5.6 -1.0
CWI SPDR MSCI ACWI ex-US ETF 10.2 30 28 7.1 +0.5
EKAR Innovation Shares NextGen Vehicles & Technology ETF 10.1 95 -37 6.9 +0.4
FGM First Trust Germany AlphaDEX Fund 9.9 80 -22 5.7 -0.9
RBIN Nationwide Risk-Based International Equity ETF 9.9 42 16 6.0 -0.6
PQIN PGIM QMA Strategic Alpha International Equity ETF 9.9 29 29 7.4 +0.9
CIZ VictoryShares Developed Enhanced Volatility Weighted Index E 9.8 45 13 6.5 -0.0
CIL VictoryShares International Volatility Weighted Index ETF 9.8 45 13 6.6 -0.0
HDMV First Trust Horizon Managed Volatility Developed Intl ETF 9.7 80 -22 6.4 -0.1
HDAW Xtrackers MSCI All World ex US High Dividend Yield Hedged 9.4 20 38 11.2 +4.6
ACWX iShares MSCI ACWI ex U.S. ETF 9.4 32 26 7.2 +0.6
IDOG ALPS International Sector Dividend Dogs ETF 9.3 50 8 10.9 +4.3
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 9.2 40 18 7.0 +0.4
IQDY FlexShares International Quality Dividend Dynamic Index Fund 9.1 47 11 9.0 +2.5
QINT American Century Quality Diversified International ETF 9.1 39 19 6.0 -0.5
RXI iShares Global Consumer Discretionary ETF 9.1 46 12 4.9 -1.7
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 9.1 16 42 6.8 +0.3
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 8.9 39 19 6.4 -0.1
FIDI Fidelity International High Dividend ETF 8.7 39 19 11.1 +4.6
VEU Vanguard FTSE All-World ex-US Index Fund 8.5 8 50 7.5 +0.9

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

  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 13.0 %
Divided by: Fwd. P/BV 1.8 x
Less: Expense ratio 58 bp
Equals: ALTAR Score 6.6 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.58 CATEGORY
AVERAGE
1.59
 
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.