WisdomTree Emerging Markets ex-State-Owned Enterprises Fund
ALTAR
Score™
5.7% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
22.6x P/Sales
ratio
1.7x
P/BV
ratio
2.4x Div.
yield
1.8%


  • 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) $2,309
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 519
Wgt avg mkt cap (mns) $200,785
Large cap (>$10bn) 77.1%
Mid cap ($2-10bn) 19.2%
Small cap (<$2bn) 2.4%
Developed mkts 9.5%
Emerging mkts 90.5%

TOP TEN HOLDINGS
ALIBABA GROUP HOLDING LTD. SPONSOR 11.0 %
TENCENT HOLDINGS LTD 8.9 %
TAIWAN SEMICONDUCTOR MANUFAC 5.2 %
SAMSUNG ELECTRONICS CO LTD 4.5 %
MEITUAN DIANPING 2.6 %
RELIANCE INDS-SPONS GDR 144A 1.6 %
NASPERS LTD-N SHS 1.4 %
JD.COM INC-ADR 1.4 %
PING AN INSURANCE GROUP CO-H 1.2 %
INFOSYS TECHNOLOGIES-SP ADR 1.0 %
Total 38.8 %

TOP COUNTRY EXPOSURE
CHINA 41.7 %
TAIWAN 12.2 %
SOUTH KOREA 11.8 %
INDIA 11.3 %
BRAZIL 4.1 %
SOUTH AFRICA 3.8 %
RUSSIA 2.5 %
MALAYSIA 2.2 %
HONG KONG 1.8 %
MEXICO 1.6 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru September 30)
Year-to-date 1 year 5 years 10 years Since Incep.
8.7% 23.3% 13.1% -- 7.6%

Market Correlations
versus... Beta R-squared
S&P500 0.94 68%
MSCI EAFE 1.10 76%
MSCI Emg. Mkts. 0.97 93%

Technical Indicators
Recent close $34.99
30d moving avg. $34.33
Annualized volatility 20.3%
Short interest (ETF) 0.1%
Relative strength (RSI) 56

Liquidity measures
Avg. volume (thou.) 357
Turnover 0.5%
Bid/Ask (% of price) 0.07%
ADV underlying (mns) $35,798

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™: 5.7%


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
(%)
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 63.1 65 -33 7.4 +1.8
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 62.5 30 2 7.6 +2.0
EEMA iShares MSCI Emerging Markets Asia ETF 62.5 50 -18 7.7 +2.0
EEM iShares MSCI Emerging Markets ETF 61.2 68 -36 7.4 +1.7
AAXJ iShares MSCI All Country Asia ex Japan ETF 60.4 68 -36 7.0 +1.4
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 59.1 36 -4 7.3 +1.6
FLAX Franklin FTSE Asia Ex Japan ETF 58.0 19 13 7.7 +2.0
IEMG iShares Core MSCI Emerging Markets ETF 56.2 13 19 7.9 +2.2
SCHE Schwab Emerging Markets Equity ETF 55.3 11 21 7.9 +2.2
JHEM John Hancock Multifactor Emerging Markets ETF 55.2 49 -17 8.7 +3.1
ESGE iShares ESG MSCI EM ETF 54.1 25 7 8.5 +2.9
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 53.2 45 -13 7.5 +1.9
DVEM WisdomTree Emerging Markets Dividend Fund 52.9 32 0 7.3 +1.6
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 52.5 20 12 6.7 +1.1
PBEE Invesco PureBeta FTSE Emerging Markets ETF 51.8 15 17 8.4 +2.8
SPEM SPDR Portfolio Emerging Markets ETF 51.8 11 21 7.7 +2.1
GMF SPDR S&P Emerging Asia Pacific ETF 51.3 49 -17 7.1 +1.4
BKF iShares MSCI BRIC ETF 48.8 69 -37 7.4 +1.8
BKEM BNY Mellon Emerging Markets Equity ETF 48.6 11 21 8.3 +2.6
EEMO Invesco S&P Emerging Markets Momentum ETF 48.1 29 3 4.0 -1.6
VWO Vanguard FTSE Emerging Markets ETF 47.5 10 22 8.0 +2.3
CXSE WisdomTree China ex-State-Owned Enterprises Fund 43.5 32 0 11.4 +5.8
NUEM Nuveen ESG Emerging Markets Equity ETF 40.7 45 -13 6.8 +1.1
GXC SPDR S&P China ETF 40.0 59 -27 7.7 +2.1
MCHI iShares MSCI China ETF 39.7 59 -27 7.6 +2.0
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 39.0 49 -17 8.0 +2.3
FLCH Franklin FTSE China ETF 38.8 19 13 8.2 +2.5
AVEM Avantis Emerging Markets Equity ETF 38.8 33 -1 8.8 +3.2
KALL KraneShares FTSE Emerging Markets Plus ETF 38.3 49 -17 8.0 +2.3
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 37.7 30 2 8.8 +3.1
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 37.6 95 -63 8.1 +2.4
CN Xtrackers MSCI All China Equity ETF 36.8 50 -18 8.0 +2.4
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 36.7 40 -8 7.3 +1.6
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 36.6 49 -17 7.7 +2.1
EMXC iShares MSCI Emerging Markets ex China ETF 35.2 25 7 8.1 +2.5
CHIL Global X MSCI China Large-Cap 50 ETF 32.9 29 3 7.5 +1.9
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 32.4 59 -27 11.1 +5.4
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 32.2 32 0 9.0 +3.4
PXH Invesco FTSE RAFI Emerging Markets ETF 30.5 50 -18 13.3 +7.6
FDEM Fidelity Targeted Emerging Markets Factor ETF 30.0 45 -13 8.5 +2.9
ISEM Invesco Strategic Emerging Markets ETF 29.2 35 -3 10.7 +5.0
FDNI First Trust Dow Jones International Internet ETF 29.1 65 -33 2.1 -3.6
AIA iShares Asia 50 ETF 28.9 50 -18 7.8 +2.1
EMMF WisdomTree Emerging Markets Multifactor Fund 28.7 48 -16 9.7 +4.0
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 27.6 86 -54 2.1 -3.5
KWEB KraneShares CSI China Internet ETF 27.4 76 -44 2.0 -3.6
XCEM Columbia EM Core ex-China ETF 24.7 16 16 7.1 +1.5
EEMV iShares Edge MSCI Min Vol Emerging Markets ETF 24.0 25 7 8.0 +2.3
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 23.7 39 -7 13.4 +7.7
CEZ VictoryShares Emerging Market Volatility Wtd Index ETF 23.2 50 -18 10.4 +4.7
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 22.8 16 16 7.0 +1.3
EMGF iShares Edge MSCI Multifactor Emerging Markets ETF 22.6 45 -13 9.1 +3.5
TTTN UP Fintech China-U.S. Internet Titans ETF 22.4 59 -27 4.3 -1.4
ECON Columbia Emerging Markets Consumer ETF 22.2 59 -27 4.9 -0.7
BICK First Trust BICK Index Fund 22.1 64 -32 4.7 -1.0
ROAM Hartford Multifactor Emerging Markets ETF 21.7 44 -12 13.1 +7.5
VSGX Vanguard ESG International Stock ETF 21.5 17 15 7.1 +1.4
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 20.9 44 -12 9.2 +3.5
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 19.3 40 -8 7.1 +1.5
ADRE Invesco BLDRS Emerging Markets 50 ADR Index Fund 18.7 18 14 4.9 -0.8
CHIQ Global X China Consumer ETF 18.2 65 -33 6.8 +1.2
ACWX iShares MSCI ACWI ex U.S. ETF 18.1 32 0 7.3 +1.7
RNEM Emerging Markets Equity Select ETF 18.0 75 -43 11.7 +6.1
IXUS ishares Core MSCI Total International Stock ETF 17.1 9 23 7.4 +1.7
VEU Vanguard FTSE All-World ex-US Index Fund 16.5 8 24 7.6 +1.9
FNI First Trust Chindia ETF 16.4 60 -28 2.5 -3.2
FRDM Freedom 100 Emerging Markets ETF 16.0 49 -17 6.6 +0.9
OGIG O'Shares Global Internet Giants ETF 15.8 48 -16 0.5 -5.1
CWI SPDR MSCI ACWI ex-US ETF 15.4 30 2 7.2 +1.6
PIE Invesco DWA Emerging Markets Momentum ETF 15.4 90 -58 5.0 -0.7
PEK VanEck Vectors ChinaAMC CSI 300 ETF 15.3 60 -28 4.0 -1.7
VXUS Vanguard Total International Stock Index Fund 14.9 8 24 7.6 +1.9
DINT Davis Select International ETF 14.7 68 -36 5.7 +0.1
FXI iShares China Large-Cap ETF 14.7 74 -42 13.1 +7.5
PGJ Invesco Golden Dragon China ETF 14.4 70 -38 3.4 -2.3
UEVM VictoryShares USAA MSCI Emerging Markets Value Momentum ETF 14.3 45 -13 14.5 +8.8
GBUY Goldman Sachs Motif New Age Consumer ETF 13.9 50 -18 1.7 -4.0
VIGI Vanguard International Dividend Appreciation ETF 13.8 20 12 5.6 -0.1
CQQQ Invesco China Technology ETF 13.4 70 -38 6.1 +0.5
AIQ Global X Future Analytics Tech ETF 13.4 68 -36 4.0 -1.6
WUGI Esoterica NextG Economy ETF 13.0 75 -43 1.5 -4.2
PNQI Invesco NASDAQ Internet ETF 12.8 60 -28 0.9 -4.7
DWLD Davis Select Worldwide ETF 12.7 63 -31 6.4 +0.7
VYMI Vanguard International High Dividend Yield ETF 12.4 27 5 10.2 +4.5
FLTW Franklin FTSE Taiwan ETF 12.1 19 13 6.2 +0.5
EWT iShares MSCI Taiwan ETF 12.0 59 -27 6.1 +0.4
FLKR Franklin FTSE South Korea ETF 11.7 9 23 8.8 +3.1
EWY iShares MSCI South Korea ETF 11.6 59 -27 8.4 +2.7
BUYZ Franklin Disruptive Commerce ETF 11.5 50 -18 -0.2 -5.9
KEMQ Kraneshares Emerging Markets Consumer Technology Index ETF 11.4 60 -28 4.5 -1.2
SOCL Global X Social Media ETF 11.4 65 -33 1.6 -4.1
GIGE SoFi Gig Economy ETF 11.1 59 -27 -0.8 -6.5
CHIC Global X Nasdaq China Technology ETF 10.9 66 -34 4.2 -1.5
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 10.9 61 -29 9.0 +3.3
GENY Principal Millennials Index ETF 10.6 45 -13 3.7 -2.0
EELV Invesco S&P Emerging Markets Low Volatility ETF 10.4 29 3 10.1 +4.4
ESPO VanEck Vectors Video Gaming & eSports ETF 10.1 55 -23 2.7 -2.9
JOYY Infusive Compounding Global Equities ETF 10.1 50 -18 3.6 -2.0

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 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 13.7 %
Divided by: Fwd. P/BV 2.3 x
Less: Expense ratio 32 bp
Equals: ALTAR Score 5.7 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.32 CATEGORY
AVERAGE
1.43
 
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.