WisdomTree ICBCCS S&P China 500
ALTAR
Score™
8.2% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
11.9x P/Sales
ratio
1.2x
P/BV
ratio
1.7x Div.
yield
2.6%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The WisdomTree ICBCCS S&P China 500 ETF tracks a broad, cap-weighted index of large, liquid Chinese equities.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor WisdomTree
Website www.wisdomtree.com
Inception date Dec 21, 2017
Assets (mns) $18
Currency USD
Expense ratio 55 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 474
Wgt avg mkt cap (mns) $145,374
Large cap (>$10bn) 80.2%
Mid cap ($2-10bn) 18.7%
Small cap (<$2bn) 0.8%
Developed mkts 15.4%
Emerging mkts 84.6%

TOP TEN HOLDINGS
ALIBABA GROUP HOLDING LTD. SPONSOR 9.9 %
TENCENT HOLDINGS LTD 8.8 %
PING AN INSURANCE (GROUP) COMPANY 3.1 %
CHINA CONSTRUCTION BANK-H 2.4 %
KWEICHOW MOUTAI CO LTD-A 2.1 %
CHINA MERCHANTS BANK -A 2.0 %
PING AN INSURANCE GROUP CO-H 1.8 %
IND & COMM BK OF CHINA - H 1.6 %
CHINA MOBILE LIMITED 1.3 %
MEITUAN DIANPING 1.3 %
Total 34.4 %

TOP COUNTRY EXPOSURE
CHINA 91.6 %
HONG KONG 6.9 %









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.
-7.8% 6.8% -- -- -4.7%

Market Correlations
versus... Beta R-squared
S&P500 1.19 62%
MSCI EAFE 1.44 71%
MSCI Emg. Mkts. 1.21 83%

Technical Indicators
Recent close $29.31
30d moving avg. $29.31
Annualized volatility 21.7%
Short interest (ETF) 0.0%
Relative strength (RSI) 49

Liquidity measures
Avg. volume (thou.) 6
Turnover 1.0%
Bid/Ask (% of price) 0.12%
ADV underlying (mns) $34,162

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the WisdomTree ICBCCS S&P China 500 ETF based on the alternatives' overlap in portfolio holdings with WCHN. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: WCHN Expense: 55 bp ALTAR Score™: 8.2%


ALTERNATIVE ETFs BASED ON OVERLAP WITH WCHN
Ticker Fund
Name
Overlap1
vs WCHN
(%)
Expense
ratio
(bp)
Savings
vs WCHN
(bp)
ALTAR
Score™
(%)
ALTAR
vs WCHN
(%)
KALL KraneShares MSCI China All Shares 70.4 49 6 8.1 -0.1
GXC SPDR S&P China ETF 61.0 59 -4 8.4 +0.2
MCHI iShares MSCI China 57.1 59 -4 8.4 +0.3
FLCH Franklin FTSE China 54.4 19 36 8.8 +0.7
BKF iShares MSCI BRIC 51.8 67 -12 7.9 -0.3
CHIL Global X MSCI China Large-Cap 50 50.7 29 26 9.4 +1.2
CN Xtrackers Harvest MSCI All China 47.9 50 5 8.6 +0.4
CXSE WisdomTree China ex-State Owned Enterprises 47.5 32 23 6.0 -2.2
KBA KraneShares MSCI China A Int'l 44.0 60 -5 7.6 -0.6
ASHX Xtrackers MSCI China A Inclusion 43.9 60 -5 7.5 -0.6
CNYA iShares MSCI China A 43.9 65 -10 7.4 -0.7
PEK VanEck Vectors ChinaAMC A-Shares 42.0 60 -5 8.4 +0.3
ASHR Xtrackers Harvest CSI 300 China A-Shares 42.0 65 -10 7.9 -0.3
GMF SPDR S&P Emerging Asia Pacific 41.3 49 6 7.4 -0.8
EEMA iShares MSCI Emg Mkts Asia 39.8 50 5 7.8 -0.3
CNHX CSOP MSCI China A International Hedged 39.4 79 -24 8.5 +0.4
AAXJ iShares MSCI Asia ex-Japan 35.4 67 -12 7.3 -0.8
FLAX Franklin FTSE Asia Ex Japan 34.5 19 36 7.8 -0.3
PBEE Invesco PureBeta FTSE Emerging Markets 33.5 14 41 8.5 +0.4
SCHE Schwab Emerging Markets Equity 33.2 13 42 7.8 -0.4

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%.

Content on this tab for subscribers only**

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

Content on this tab for subscribers only

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 ICBCCS S&P China 500
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 14.6 %
Divided by: Fwd. P/BV 1.7 x
Less: Expense ratio 55 bp
Equals: ALTAR Score 8.2 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

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