Wisdomtree International Hedged Equity
ALTAR
Score™
7.2% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
14.2x P/Sales
ratio
1.1x
P/BV
ratio
1.6x Div.
yield
3.2%


  • 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) $3,492
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 127
Wgt avg mkt cap (mns) $70,712
Large cap (>$10bn) 89.6%
Mid cap ($2-10bn) 9.7%
Small cap (<$2bn) 0.7%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
BANCO SANTANDER SA 5.9 %
SANOFI-AVENTIS 4.8 %
ANHEUSER-BUSCH INBEV SA/NV 4.4 %
UNILEVER NV 4.4 %
LVMH MOET HENNESSY LOUIS VUI 3.8 %
BAYER AG 3.6 %
SIEMENS AG-REG 3.1 %
BANCO BILBAO VIZCAYA ARGENTA 3.0 %
DAIMLER AG-REGISTERED SHARES 3.0 %
BASF SE 2.9 %
Total 38.8 %

TOP COUNTRY EXPOSURE
FRANCE 26.0 %
GERMANY 24.4 %
NETHERLANDS 19.0 %
SPAIN 11.9 %
BELGIUM 6.4 %
FINLAND 2.9 %
BRITAIN 1.7 %
IRELAND 1.5 %
ITALY 1.3 %
PORTUGAL 0.8 %

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.
-3.8% 14.8% 6.3% 8.0% 7.5%

Market Correlations
versus... Beta R-squared
S&P500 0.77 59%
MSCI EAFE 0.93 71%
MSCI Emg. Mkts. 0.57 47%

Technical Indicators
Recent close $71.49
30d moving avg. $70.53
Annualized volatility 12.2%
Short interest (ETF) 1.0%
Relative strength (RSI) 53

Liquidity measures
Avg. volume (thou.) 352
Turnover 0.7%
Bid/Ask (% of price) 0.02%
ADV underlying (mns) $6,243

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Wisdomtree International Hedged Equity 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™: 7.2%


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 DJ Euro Stoxx 50 49.0 29 29 6.8 -0.4
EZU iShares MSCI Euro Monetary Union 47.2 47 11 6.5 -0.8
EURZ Xtrackers Eurozone Equity 45.9 9 49 6.8 -0.4
DBEZ Xtrackers MSCI EMU Hedged 43.1 45 13 6.2 -1.1
EUDG WisdomTree Europe Dividend 30.4 58 0 6.0 -1.2
FLFR Franklin FTSE France 27.8 9 49 6.6 -0.6
EWQ iShares MSCI France 27.5 47 11 6.2 -1.0
IEV iShares S&P Europe 350 26.3 59 -1 6.2 -1.0
DBEU Xtrackers Europe Hedged 25.0 45 13 6.1 -1.1
HFXE IQ 50 PERCENT HEDGED FTSE EUROPE 24.6 30 28 6.4 -0.8
DXGE WisdomTree Germany Hedged Equity 24.4 48 10 8.6 +1.4
FLEE Franklin FTSE Europe 24.4 9 49 6.7 -0.6
FLEH Franklin FTSE Europe Hedged 23.9 9 49 6.5 -0.7
BBEU JPMorgan BetaBuilders Europe 23.5 9 49 6.7 -0.5
EWG iShares MSCI Germany 23.4 47 11 7.2 -0.0
DBGR Xtrackers MSCI Germany Hedged 23.3 45 13 7.1 -0.2
IEUR iShares Core MSCI Europe 23.2 9 49 6.7 -0.5
FLGR Franklin FTSE Germany 23.1 9 49 7.5 +0.2
QDEU SPDR MSCI Germany Quality Mix 23.0 14 44 7.7 +0.5
FEU SPDR DJ Stoxx 50 22.8 9 49 6.7 -0.5

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

  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 International Hedged Equity
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

NEUTRAL

Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 12.1 %
Divided by: Fwd. P/BV 1.6 x
Less: Expense ratio 58 bp
Equals: ALTAR Score 7.2 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.64 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.
 

 

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.