WisdomTree Emerging Markets ex-State-Owned Enterprises Fund
ALTAR
Score™
6.1% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
21.8x P/Sales
ratio
1.6x
P/BV
ratio
2.1x Div.
yield
1.9%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
WisdomTree Emerging Markets ex-State-Owned Enterprises Fund is an exchange-traded fund incorporated in the USA. The Fund invests in emerging markets stocks where government ownership does not exceed 20% of outstanding shares.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor WisdomTree Asset Management In
Website www.wisdomtree.com
Inception date Dec 10, 2014
Assets (mns) $1,619
Currency USD
Expense ratio 32 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-End Investment Company
Custodian WisdomTree Asset Management Inc
Weighting Market Cap
Index replication Optimized
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 509
Wgt avg mkt cap (mns) $174,596
Large cap (>$10bn) 77.1%
Mid cap ($2-10bn) 19.1%
Small cap (<$2bn) 2.9%
Developed mkts 9.3%
Emerging mkts 90.8%

TOP TEN HOLDINGS
TENCENT HOLDINGS LTD 8.8 %
ALIBABA GROUP HOLDING LTD. SPONSOR 8.6 %
TAIWAN SEMICONDUCTOR MANUFAC 5.1 %
SAMSUNG ELECTRONICS CO LTD 4.3 %
MEITUAN DIANPING 2.1 %
RELIANCE INDS-SPONS GDR 144A 1.8 %
NASPERS LTD-N SHS 1.4 %
PING AN INSURANCE GROUP CO-H 1.2 %
JD.COM INC-ADR 1.1 %
OIL COMPANY LUKOIL PJSC SPONSORED 1.0 %
Total 35.5 %

TOP COUNTRY EXPOSURE
CHINA 38.5 %
TAIWAN 12.8 %
SOUTH KOREA 12.2 %
INDIA 10.9 %
BRAZIL 4.6 %
SOUTH AFRICA 4.0 %
RUSSIA 2.9 %
MALAYSIA 2.7 %
HONG KONG 1.9 %
THAILAND 1.5 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru July 31)
Year-to-date 1 year 5 years 10 years Since Incep.
5.6% 18.6% 9.1% -- 7.3%

Market Correlations
versus... Beta R-squared
S&P500 0.98 69%
MSCI EAFE 1.12 77%
MSCI Emg. Mkts. 0.97 93%

Technical Indicators
Recent close $33.32
30d moving avg. $32.74
Annualized volatility 20.2%
Short interest (ETF) 0.0%
Relative strength (RSI) 64

Liquidity measures
Avg. volume (thou.) 323
Turnover 0.7%
Bid/Ask (% of price) 0.09%
ADV underlying (mns) $41,511

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 98 potential alternatives to the WisdomTree Emerging Markets ex-State-Owned Enterprises Fund ETF based on the alternatives' overlap in portfolio holdings with XSOE. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: XSOE Expense: 32 bp ALTAR Score™: 6.1%


ALTERNATIVE ETFs BASED ON OVERLAP WITH XSOE
Ticker Fund
Name
Overlap1
vs XSOE
(%)
Expense
ratio
(bp)
Savings
vs XSOE
(bp)
ALTAR
Score™
(%)
ALTAR
vs XSOE
(%)
EEMA iShares MSCI Emerging Markets Asia ETF 63.8 50 -18 7.4 +1.3
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 61.6 30 2 7.7 +1.6
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 61.5 65 -33 7.3 +1.2
EEM iShares MSCI Emerging Markets ETF 60.4 68 -36 7.3 +1.2
AAXJ iShares MSCI All Country Asia ex Japan ETF 59.5 68 -36 7.0 +0.8
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 58.4 36 -4 8.0 +1.9
FLAX Franklin FTSE Asia Ex Japan ETF 57.6 19 13 7.6 +1.5
JHEM John Hancock Multifactor Emerging Markets ETF 56.8 49 -17 8.3 +2.1
IEMG iShares Core MSCI Emerging Markets ETF 55.2 13 19 7.8 +1.7
SCHE Schwab Emerging Markets Equity ETF 54.9 11 21 7.9 +1.8
ESGE iShares ESG MSCI EM ETF 52.6 25 7 8.5 +2.4
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 52.5 45 -13 7.8 +1.7
PBEE Invesco PureBeta FTSE Emerging Markets ETF 51.9 15 17 8.6 +2.4
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 50.9 20 12 6.7 +0.6
SPEM SPDR Portfolio Emerging Markets ETF 50.3 11 21 7.8 +1.7
DVEM WisdomTree Emerging Markets Dividend Fund 50.1 32 0 8.1 +2.0
BKEM BNY Mellon Emerging Markets Equity ETF 50.1 11 21 8.4 +2.2
GMF SPDR S&P Emerging Asia Pacific ETF 49.1 49 -17 7.2 +1.1
VWO Vanguard FTSE Emerging Markets ETF 47.5 10 22 8.0 +1.8
BKF iShares MSCI BRIC ETF 46.0 69 -37 7.4 +1.2
CXSE WisdomTree China ex-State-Owned Enterprises Fund 40.4 32 0 6.1 -0.1
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 40.1 49 -17 7.6 +1.5
AVEM Avantis Emerging Markets Equity ETF 37.7 33 -1 8.7 +2.5
NUEM Nuveen ESG Emerging Markets Equity ETF 37.7 45 -13 7.0 +0.8
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 37.3 30 2 8.6 +2.5
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 37.2 49 -17 7.6 +1.4
EMXC iShares MSCI Emerging Markets ex China ETF 37.2 25 7 7.9 +1.8
MCHI iShares MSCI China ETF 36.6 59 -27 7.8 +1.7
GXC SPDR S&P China ETF 36.4 59 -27 8.0 +1.9
FLCH Franklin FTSE China ETF 35.5 19 13 8.3 +2.2
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 34.9 95 -63 9.2 +3.1
KALL KraneShares FTSE Emerging Markets Plus ETF 34.3 49 -17 8.1 +2.0
CN Xtrackers MSCI All China Equity ETF 33.7 50 -18 8.1 +2.0
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 32.7 32 0 8.9 +2.7
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 31.9 59 -27 10.8 +4.7
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 31.0 40 -8 7.2 +1.0
EEMO Invesco S&P Emerging Markets Momentum ETF 30.4 29 3 6.4 +0.2
CHIL Global X MSCI China Large-Cap 50 ETF 30.1 29 3 8.3 +2.2
PXH Invesco FTSE RAFI Emerging Markets ETF 30.0 50 -18 13.2 +7.1
AIA iShares Asia 50 ETF 28.3 50 -18 7.9 +1.8
ISEM Invesco Strategic Emerging Markets ETF 27.7 35 -3 10.2 +4.1
FDNI First Trust Dow Jones International Internet ETF 27.0 65 -33 2.2 -3.9
MXDE Nationwide Maximum Diversification Emerging Mkts Core Eq 26.1 64 -32 4.6 -1.6
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 25.9 86 -54 2.1 -4.0
XCEM Columbia EM Core ex-China ETF 25.7 16 16 7.0 +0.9
EMMF WisdomTree Emerging Markets Multifactor Fund 25.1 48 -16 9.3 +3.2
KWEB KraneShares CSI China Internet ETF 24.9 76 -44 1.8 -4.3
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 24.0 39 -7 12.6 +6.5
EEMV iShares Edge MSCI Min Vol Emerging Markets ETF 23.3 25 7 7.7 +1.5
CEZ VictoryShares Emerging Market Volatility Wtd Index ETF 23.3 50 -18 10.3 +4.2
FDEM Fidelity Targeted Emerging Markets Factor ETF 22.9 45 -13 9.3 +3.2
BICK First Trust BICK Index Fund 22.4 64 -32 4.3 -1.8
TTTN UP Fintech China-U.S. Internet Titans ETF 22.0 59 -27 4.1 -2.0
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 22.0 16 16 6.8 +0.7
EMGF iShares Edge MSCI Multifactor Emerging Markets ETF 21.4 45 -13 8.8 +2.7
ECON Columbia Emerging Markets Consumer ETF 21.2 59 -27 4.5 -1.7
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 20.8 44 -12 8.9 +2.7
ROAM Hartford Multifactor Emerging Markets ETF 20.2 44 -12 14.4 +8.3
RNEM Emerging Markets Equity Select ETF 18.3 75 -43 11.4 +5.2
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 18.3 40 -8 6.9 +0.8
VSGX Vanguard ESG International Stock ETF 17.9 17 15 7.0 +0.9
PIE Invesco DWA Emerging Markets Momentum ETF 17.7 90 -58 4.6 -1.5
ACWX iShares MSCI ACWI ex U.S. ETF 17.3 32 0 7.1 +1.0
FRDM Freedom 100 Emerging Markets ETF 16.8 49 -17 6.5 +0.4
IXUS ishares Core MSCI Total International Stock ETF 16.4 9 23 7.3 +1.1
OGIG O'Shares Global Internet Giants ETF 16.2 48 -16 0.7 -5.4
VEU Vanguard FTSE All-World ex-US Index Fund 15.8 8 24 7.4 +1.3
ADRE Invesco BLDRS Emerging Markets 50 ADR Index Fund 15.7 18 14 5.3 -0.8
CHIQ Global X China Consumer ETF 15.6 65 -33 7.0 +0.9
VXUS Vanguard Total International Stock Index Fund 15.2 8 24 7.4 +1.3
FNI First Trust Chindia ETF 15.2 60 -28 2.6 -3.5
CWI SPDR MSCI ACWI ex-US ETF 15.1 30 2 7.1 +0.9
UEVM VictoryShares USAA MSCI Emerging Markets Value Momentum ETF 14.8 45 -13 13.2 +7.0
PGJ Invesco Golden Dragon China ETF 14.2 70 -38 3.2 -3.0
CQQQ Invesco China Technology ETF 13.9 70 -38 3.8 -2.3
FXI iShares China Large-Cap ETF 13.7 74 -42 13.0 +6.9
WUGI Esoterica NextG Economy ETF 13.7 75 -43 1.7 -4.4
DINT Davis Select International ETF 13.2 68 -36 5.7 -0.4
GBUY Goldman Sachs Motif New Age Consumer ETF 13.0 50 -18 1.8 -4.4
VIGI Vanguard International Dividend Appreciation ETF 13.0 25 7 5.5 -0.6
EWT iShares MSCI Taiwan ETF 12.6 59 -27 5.7 -0.5
FLTW Franklin FTSE Taiwan ETF 12.4 19 13 6.1 -0.0
AIQ Global X Future Analytics Tech ETF 12.4 68 -36 4.2 -2.0
PNQI Invesco NASDAQ Internet ETF 12.3 62 -30 1.0 -5.1
SOCL Global X Social Media ETF 12.2 65 -33 1.8 -4.4
FLKR Franklin FTSE South Korea ETF 12.1 9 23 8.4 +2.3
EWY iShares MSCI South Korea ETF 12.1 59 -27 8.0 +1.9
VYMI Vanguard International High Dividend Yield ETF 11.9 32 0 9.9 +3.8
KEMQ Kraneshares Emerging Markets Consumer Technology Index ETF 11.5 80 -48 3.8 -2.3
DWLD Davis Select Worldwide ETF 11.3 63 -31 6.4 +0.3
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 11.2 60 -28 8.5 +2.4
EELV Invesco S&P Emerging Markets Low Volatility ETF 11.1 29 3 9.8 +3.7
CHIC Global X Nasdaq China Technology ETF 11.1 66 -34 3.8 -2.3
BUYZ Franklin Disruptive Commerce ETF 10.8 50 -18 -0.3 -6.4
ONLN ProShares Online Retail ETF 10.7 58 -26 0.8 -5.3
GENY Principal Millennials Index ETF 10.3 45 -13 3.7 -2.4
DEM WisdomTree Emerging Markets High Dividend Fund 9.9 63 -31 14.0 +7.8
JOYY Infusive Compounding Global Equities ETF 9.9 50 -18 3.6 -2.5

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%.

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 Emerging Markets ex-State-Owned Enterprises 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 13.2 %
Divided by: Fwd. P/BV 2.0 x
Less: Expense ratio 32 bp
Equals: ALTAR Score 6.1 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.36 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.