WisdomTree Emerging Markets ex-State-Owned Enterprises Fund
ALTAR
Score™
7.1% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
14.8x P/Sales
ratio
1.3x
P/BV
ratio
2.0x Div.
yield
2.7%


  • 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) $905
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 541
Wgt avg mkt cap (mns) $131,198
Large cap (>$10bn) 72.2%
Mid cap ($2-10bn) 26.3%
Small cap (<$2bn) 1.1%
Developed mkts 7.5%
Emerging mkts 92.4%

TOP TEN HOLDINGS
ALIBABA GROUP HOLDING LTD. SPONSOR 7.9 %
TENCENT HOLDINGS LTD 7.3 %
SAMSUNG ELECTRONICS CO LTD 4.8 %
TAIWAN SEMICONDUCTOR MANUFAC 4.1 %
OIL COMPANY LUKOIL PJSC SPONSORED 1.7 %
NASPERS LTD-N SHS 1.6 %
PING AN INSURANCE GROUP CO-H 1.5 %
RELIANCE INDS-SPONS GDR 144A 1.4 %
HOUSING DEVELOPMENT FINANCE 1.3 %
MEITUAN DIANPING 1.0 %
Total 32.5 %

TOP COUNTRY EXPOSURE
CHINA 33.0 %
SOUTH KOREA 12.2 %
TAIWAN 12.1 %
INDIA 11.2 %
BRAZIL 6.2 %
SOUTH AFRICA 5.0 %
RUSSIA 3.9 %
MEXICO 2.5 %
MALAYSIA 2.3 %
INDONESIA 2.1 %

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.
-4.3% 8.1% 5.7% -- 5.9%

Market Correlations
versus... Beta R-squared
S&P500 1.04 61%
MSCI EAFE 1.28 77%
MSCI Emg. Mkts. 1.08 94%

Technical Indicators
Recent close $29.10
30d moving avg. $31.13
Annualized volatility 16.1%
Short interest (ETF) 0.2%
Relative strength (RSI) 37

Liquidity measures
Avg. volume (thou.) 395
Turnover 1.3%
Bid/Ask (% of price) 0.18%
ADV underlying (mns) $26,743

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 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™: 7.1%


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 60.5 50 -18 8.7 +1.6
EEM iShares MSCI Emerging Markets ETF 58.7 68 -36 8.6 +1.5
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 58.6 65 -33 8.6 +1.5
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 57.4 30 2 8.8 +1.7
JHEM John Hancock Multifactor Emerging Markets ETF 57.1 55 -23 9.2 +2.1
AAXJ iShares MSCI All Country Asia ex Japan ETF 55.0 68 -36 8.1 +1.0
FLAX Franklin FTSE Asia Ex Japan ETF 54.8 19 13 8.6 +1.5
SCHE Schwab Emerging Markets Equity ETF 53.9 13 19 8.7 +1.6
IEMG iShares Core MSCI Emerging Markets ETF 53.7 14 18 9.0 +1.9
PBEE Invesco PureBeta FTSE Emerging Markets ETF 50.5 14 18 9.4 +2.3
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 49.8 45 -13 9.2 +2.1
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 48.8 20 12 7.8 +0.7
VWO Vanguard FTSE Emerging Markets ETF 47.4 10 22 9.0 +1.9
SPEM SPDR Portfolio Emerging Markets ETF 47.1 11 21 8.8 +1.7
GMF SPDR S&P Emerging Asia Pacific ETF 46.4 49 -17 8.1 +1.0
ESGE iShares ESG MSCI EM ETF 46.0 25 7 9.4 +2.3
BKF iShares MSCI BRIC ETF 42.1 69 -37 8.8 +1.7
DVEM WisdomTree Emerging Markets Dividend Fund 41.9 32 0 12.5 +5.4
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 41.9 49 -17 8.7 +1.6
EMXC iShares MSCI Emerging Markets ex China ETF 41.8 49 -17 8.9 +1.8

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 14.3 %
Divided by: Fwd. P/BV 1.9 x
Less: Expense ratio 32 bp
Equals: ALTAR Score 7.1 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.39 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.