WisdomTree India Ex-State-Owned Enterprises Fund
ALTAR
Score™
5.0% info Recommen-
dation
AVOID
2020E    2021E
P/E
ratio
30.7x P/Sales
ratio
2.4x
P/BV
ratio
3.0x Div.
yield
1.3%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
IXSE seeks to track the investment results of Indian companies that are not state-owned enterprises, which is defined as government ownership greater than 20%.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor WisdomTree
Website www.wisdomtree.com
Inception date Apr 04, 2019
Assets (mns) $2
Currency USD
Expense ratio 58 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 85
Wgt avg mkt cap (mns) $40,983
Large cap (>$10bn) 72.9%
Mid cap ($2-10bn) 25.1%
Small cap (<$2bn) 2.0%
Developed mkts 0.0%
Emerging mkts 100.0%

TOP TEN HOLDINGS
RELIANCE INDUSTRIES LTD 11.5 %
HOUSING DEVELOPMENT FINANCE 7.8 %
INFOSYS TECHNOLOGIES LTD 7.6 %
TATA CONSULTANCY SVS LTD 6.5 %
HINDUSTAN UNILEVER LIMITED 5.4 %
ICICI BANK LTD 4.7 %
KOTAK MAHINDRA BANK LTD 4.3 %
BHARTI AIRTEL LIMITED 3.6 %
MARUTI SUZUKI INDIA LTD 2.2 %
ASIAN PAINTS LTD 2.1 %
Total 55.7 %

TOP COUNTRY EXPOSURE
INDIA 98.4 %










HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru June 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-15.8% -13.1% -- -- -12.6%

Market Correlations
versus... Beta R-squared
S&P500 1.06 65%
MSCI EAFE 1.18 76%
MSCI Emg. Mkts. 0.94 75%

Technical Indicators
Recent close $22.16
30d moving avg. $20.81
Annualized volatility 29.0%
Short interest (ETF) 0.0%
Relative strength (RSI) 65

Liquidity measures
Avg. volume (thou.) 0
Turnover 0.0%
Bid/Ask (% of price) 0.28%
ADV underlying (mns) $280

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 potential alternatives to the WisdomTree India Ex-State-Owned Enterprises Fund ETF based on the alternatives' overlap in portfolio holdings with IXSE. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: IXSE Expense: 58 bp ALTAR Score™: 5.0%


ALTERNATIVE ETFs BASED ON OVERLAP WITH IXSE
Ticker Fund
Name
Overlap1
vs IXSE
(%)
Expense
ratio
(bp)
Savings
vs IXSE
(bp)
ALTAR
Score™
(%)
ALTAR
vs IXSE
(%)
INDA iShares MSCI India ETF 80.2 69 -11 5.3 +0.3
FLIN Franklin FTSE India ETF 75.8 19 39 5.8 +0.7
PIN Invesco India ETF 75.5 78 -20 5.7 +0.7
INDY iShares India 50 ETF 72.1 94 -36 5.7 +0.6
EPI WisdomTree India Earnings Fund 59.0 85 -27 8.9 +3.9
NFTY First Trust India NIFTY 50 Equal Weight ETF 46.6 80 -22 7.8 +2.8
MXDE Nationwide Maximum Diversification Emerging Mkts Core Eq 13.5 64 -6 4.8 -0.2
BKF iShares MSCI BRIC ETF 11.8 69 -11 7.7 +2.7
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 11.5 60 -2 8.5 +3.5
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 10.0 49 9 8.1 +3.1
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 10.0 30 28 9.0 +3.9
ECON Columbia Emerging Markets Consumer ETF 9.7 59 -1 4.6 -0.4
JHEM John Hancock Multifactor Emerging Markets ETF 9.5 49 9 8.7 +3.6
RNEM Emerging Markets Equity Select ETF 9.3 75 -17 10.5 +5.5
INCO Columbia India Consumer ETF 9.2 75 -17 3.1 -2.0
EEMA iShares MSCI Emerging Markets Asia ETF 9.1 50 8 7.9 +2.8
DVEM WisdomTree Emerging Markets Dividend Fund 8.9 32 26 8.5 +3.4
EEMO Invesco S&P Emerging Markets Momentum ETF 8.4 29 29 6.9 +1.8
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 8.2 20 38 7.1 +2.1
EEMV iShares Edge MSCI Min Vol Emerging Markets ETF 8.1 25 33 7.8 +2.8
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 8.0 32 26 6.4 +1.3
CEZ VictoryShares Emerging Market Volatility Wtd Index ETF 8.0 50 8 10.4 +5.4
EMCG WisdomTree Emerging Markets Consumer Growth Fund 7.8 32 26 7.5 +2.5
FDEM Fidelity Targeted Emerging Markets Factor ETF 7.6 45 13 9.7 +4.7
AAXJ iShares MSCI All Country Asia ex Japan ETF 7.5 68 -10 7.4 +2.3
SCHE Schwab Emerging Markets Equity ETF 7.5 11 47 8.2 +3.1
FLAX Franklin FTSE Asia Ex Japan ETF 7.4 19 39 8.0 +3.0
VIGI Vanguard International Dividend Appreciation ETF 7.2 25 33 5.6 +0.6
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 7.2 45 13 8.2 +3.1
ESGE iShares ESG MSCI EM ETF 7.2 25 33 9.0 +4.0
GMF SPDR S&P Emerging Asia Pacific ETF 7.1 49 9 7.6 +2.5
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 7.0 44 14 9.1 +4.1
VWO Vanguard FTSE Emerging Markets ETF 6.8 10 48 8.4 +3.3
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 6.7 32 26 9.2 +4.2
EEM iShares MSCI Emerging Markets ETF 6.7 68 -10 7.7 +2.7
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 6.5 95 -37 9.6 +4.5
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 6.4 36 22 8.5 +3.5
EMMF WisdomTree Emerging Markets Multifactor Fund 6.3 48 10 9.8 +4.7
IEMG iShares Core MSCI Emerging Markets ETF 6.2 13 45 8.2 +3.2
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 6.2 30 28 8.1 +3.1
NUEM Nuveen ESG Emerging Markets Equity ETF 5.5 45 13 7.6 +2.6
SPEM SPDR Portfolio Emerging Markets ETF 5.4 11 47 8.1 +3.0
EMGF iShares Edge MSCI Multifactor Emerging Markets ETF 5.4 45 13 9.5 +4.4
PXH Invesco FTSE RAFI Emerging Markets ETF 5.3 50 8 13.4 +8.4
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 5.1 65 -7 7.7 +2.7
KMED KraneShares Emerging Markets Healthcare Index ETF 4.5 79 -21 2.2 -2.8
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 4.4 40 18 7.3 +2.3
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 4.3 59 -1 11.4 +6.4
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 3.9 39 19 13.0 +8.0
AVEM Avantis Emerging Markets Equity ETF 3.7 33 25 9.2 +4.2
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 3.1 58 0 7.9 +2.9
NXTG First Trust Indxx NextG ETF 2.7 70 -12 6.2 +1.2
SMIN iShares MSCI India Small Cap ETF 2.6 76 -18 3.3 -1.7
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 2.5 16 42 7.0 +2.0
FILL iShares MSCI Global Energy Producers ETF 2.3 39 19 6.4 +1.4
FTAG First Trust Indxx Global Agriculture ETF 2.3 70 -12 6.5 +1.4
LEGR First Trust Index Digital Transaction & Process Technology E 2.0 65 -7 7.3 +2.3
AXJL WisdomTree Asia Pacific ex-Japan Fund 2.0 48 10 9.7 +4.7
ACWV iShares Edge MSCI Min Vol Global ETF 1.8 20 38 5.7 +0.7
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 1.8 40 18 7.1 +2.1
IXUS ishares Core MSCI Total International Stock ETF 1.8 9 49 7.5 +2.5
EEMS iShares MSCI Emerging Markets Small Cap ETF 1.7 69 -11 8.1 +3.0
VXUS Vanguard Total International Stock Index Fund 1.7 8 50 7.7 +2.7
BLES Inspire Global Hope Large Cap ETF 1.5 52 6 6.5 +1.5
VEU Vanguard FTSE All-World ex-US Index Fund 1.5 8 50 7.7 +2.7
FEM First Trust Emerging Markets AlphaDEX Fund 1.5 80 -22 11.4 +6.3
VSGX Vanguard ESG International Stock ETF 1.5 17 41 7.3 +2.3
UEVM VictoryShares USAA MSCI Emerging Markets Value Momentum ETF 1.5 45 13 13.8 +8.8
IGRO iShares International Dividend Growth ETF 1.3 22 36 8.1 +3.1
CWI SPDR MSCI ACWI ex-US ETF 1.3 30 28 7.3 +2.2
ACWF iShares FactorSelect MSCI Global ETF 1.2 35 23 8.1 +3.0
PICK iShares MSCI Global Metals & Mining Producers ETF 1.1 39 19 7.6 +2.5
DEM WisdomTree Emerging Markets High Dividend Fund 1.1 63 -5 14.1 +9.1
CEY VictoryShares Emerging Market High Dividend Volatility Wtd E 1.0 51 7 13.5 +8.5
XT iShares Exponential Technologies ETF 0.9 47 11 5.1 +0.1
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.8 20 38 6.2 +1.2
VEGI iShares MSCI Global Agriculture Producers ETF 0.7 39 19 6.1 +1.1
LOWC SPDR MSCI ACWI Low Carbon Target ETF 0.6 20 38 6.1 +1.1
OBOR KraneShares MSCI One Belt One Road Index ETF 0.6 79 -21 9.5 +4.4
VT Vanguard Total World Stock Index Fund 0.6 8 50 6.2 +1.2
DGS WisdomTree Emerging Markets SmallCap Dividend Fund 0.6 63 -5 12.7 +7.7
GUNR Flexshares Morningstar Global Upstream Natural Resources 0.5 46 12 5.8 +0.8
IQDE FlexShares International Quality Dividend Defensive Index Fd 0.5 47 11 12.4 +7.3
DGT SPDR Global Dow ETF 0.5 50 8 6.8 +1.7
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund 0.4 47 11 6.5 +1.5
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 0.4 86 -28 2.2 -2.8
SDG iShares Sustainable MSCI Global Impact ETF 0.3 49 9 5.9 +0.8
FEMS First Trust Emerging Markets Small Cap Alphadex Fund 0.2 80 -22 18.3 +13.2
DVYE iShares Emerging Markets Dividend ETF 0.2 49 9 16.3 +11.3
HDAW Xtrackers MSCI All World ex US High Dividend Yield Hedged 0.2 20 38 11.1 +6.1
DBAP Xtrackers MSCI Asia Pacific ex Japan Hedged Equity ETF 0.2 10 48 9.1 +4.1
VSS Vanguard FTSE All World (ex-US) Small Cap Index Fund 0.2 11 47 6.9 +1.9
DEW WisdomTree Global High Dividend Fund 0.1 58 0 9.4 +4.3
VNQI Vanguard Global ex-US Real Estate Index Fund 0.1 12 46 9.9 +4.9
VYMI Vanguard International High Dividend Yield ETF 0.1 32 26 10.3 +5.2
ACWI iShares MSCI ACWI ETF 0.1 32 26 5.9 +0.9
DRW WisdomTree Global ex-US Real Estate Fund 0.1 58 0 10.6 +5.6
IQDF FlexShares International Quality Dividend Index Fund 0.1 47 11 12.4 +7.4
ACWX iShares MSCI ACWI ex U.S. ETF 0.0 32 26 7.4 +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 India Ex-State-Owned Enterprises Fund
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

AVOID

Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may not be relevant.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 15.9 %
Divided by: Fwd. P/BV 2.8 x
Less: Expense ratio 58 bp
Equals: ALTAR Score 5.0 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.48 CATEGORY
AVERAGE
1.45
 
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.